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Percent of Budget Spent for KPIs

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We are trying to setup KPI's that will alert PPM users when their project actuals hit certain thresholds of their budget (eg. 75% spent, 90% spent). Is this accomplished by defining a KPI using the "ITD actual spent cost (%)" measure with multiple thresholds defined for the KPI (eg. 75-> 90; 90->100)?

Thanks,

Brian

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