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Oracle Project Presentation Roles and Responsibilities (Identifications of Core Team) Implementation Strategy (which Projects / Locations) Training Strategy (Key User and End user)
You track activity on a project by comparing actual activity with expected activity. Record actual activity as actuals (transactions). Record expected activity in a budget.
Oracle Projects Features Oracle Projects has many features that address common business needs: Project-tracking tools Cost collection and calculation capabilities Allocations and allocation sets features Project asset creation functions Flexible revenue accrual and invoicing functions Online reporting and hard-copy reporting Full adjustment capabilities Oracle and non-Oracle applications integration
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How to Use Oracle Projects The following is a typical process flow using Oracle projects:
Create a project Enter a budget Collect actuals (transactions) Process cost, revenue, and invoice transactions Capitalize asset costs Perform analysis/reporting
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Overview of Oracle Projects You define a project and work breakdown structure (WBS) to record work and process transactions as you require. Project definitions can be simple or complex, depending on your requirements. Project definitions can include:
Classification information Work breakdown structures Charge controls Costing overrides Revenue and billing information Single- or multipleorganization usage Function or project security controls
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Project Definition A project is a unit of work made up of one or more tasks. For example, you can use projects to track:
Indirect Work
Indirect projects Research and Development
Product/Asset Development
Services
Cost of product/asset Customer billing development Professional services consulting Cost capitalization Capital projects Construction/ engineering Government contractors Contract projects
Project Classes
You can use three predefined project classes to track the following types of information: Indirect projects: Track overhead activities and costs. Capital projects: Track product/asset development activities and costs. Costs are capitalized as one or more assets. Contract projects: Track activities, cost, revenue, and billing for work performed for and reimbursed by an internal or external customer.
are the actual costs incurred? (labor, expenses, materials, and usages) What are the outstanding committed costs? What are the forecasted costs over future time periods?
Labor utilization
What
types of skills are used on projects? What percent of employees are billable? Can labor costs be recovered?
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have we allocated customer funding to projects? How much revenue have we accrued to date?
Customer invoice
Did
we invoice for the latest completed deliverable? What is the total project billing?
Asset utilization
Are
the costs of nonlabor company assets recovered with current bill rates or markups? Are all costs allocated from service centers to served organizations?
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Oracle Projects Costing Project Costing provides: A central cost collections system A bridge between project management and financial accounting A mechanism for providing timely, detailed cost information to project managers and financial accountants
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Oracle Projects Billing Project Billing provides: Simplified customer invoicing Flexible revenue accrual Profitability and performance measurements Integration with Oracle Receivables
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Project-Tracking Tools Project managers use Oracle Projects to track detailed costs, manage within budget, and stay on schedule while achieving project objectives.
Transaction 10 hours of labor on Monday, May 13, 2007 on project XYZ, task 1
Company-Cost CenterAccount 01-100-5153 Amount $220
Financial analysts require the details to manage the overall business. Oracle Projects translates project details into financial transactions so the financial analysts have the details they require.
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Your project, which consists of one or more tasks, can be as simple or detailed as you want it to be. You can define an unlimited hierarchy of tasks, called a work breakdown structure (WBS), to organize and monitor project activities.
Project
Task 1
Task 2
Task 1.1
Task 1.2
Task 2.1
Task 2.2
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Types of Cost
You record transactions against a project to record actual work performed or cost incurred. For example: Timecards Expense reports Usage logs Posted supplier invoice (posted to GL) You also record committed costs. For example: Requisitions Purchase orders Pending supplier invoices (not posted to GL)
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Cost Calculations
Processed transactions can have the following costs:
Raw cost: The costs that are directly attributable to work performed (also referred to as direct cost). Burden cost: The cost of running the business that supports the raw cost (also referred to as indirect cost). Total Burdened Cost: Raw Cost + Burden Cost
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Capitalization of Project Costs You can easily manage all project related construction-in-process (CIP) costs and expenses for capital projects. Oracle Projects becomes the CIP subledger for project related CIP costs. Work breakdown structures (WBS) provide an efficient mechanism for managing the project and tracking asset costs as they accumulate over time.
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Capitalization of Project Costs With Oracle Projects, you can: Associate project assets with a work breakdown structure Collect actual project costs Capitalize the assets Use the Oracle Assets Mass Additions functionality to allow project information to flow directly from Oracle Projects to Oracle Assets Easily adjust asset costs, even after capitalization
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Billing Controls You can control which transactions are billable for projects and tasks. Billable means that you can accrue revenue and bill your customers. Nonbillable means that you cannot accrue revenue or bill your customers.
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External Transaction
Project Management
Actuals
Fixed Assets
Assets
Import
Plan
Oracle Inventory
Usages Issues and Receipts
Oracle Projects
Reference Customers Invoices Adjustments
Post Cash
Accounts Receivable
Purchasing
Accounts Payable
Post Actual Expense
General Ledger
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Thank You !
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