Thursday, 16 July 2015

Project Accounting – Overview of Oracle Apps R12

A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and resources.
And a project is unique in that it is not a routine operation, but a specific set of operations designed to accomplish a singular goal.
Project management processes fall into five groups:
  • Initiating
  • Planning
  • Executing
  • Monitoring and Controlling
  • Closing
Oracle Projects consists of the following products:
  • Oracle Project Costing
  • Oracle Project Billing
  • Oracle Project Resource Management
  • Oracle Project Management
  • Oracle Project Collaboration
  • Oracle Daily Business Intelligence for Projects
  • Oracle Project Portfolio Analysis
The key features of Oracle Project Costing are:
  • Versatile template-driven project definition
  • Multiple currency financial plan and budget creation
  • Diverse accrual and expenditure capture
  • Robust expenditure control, collection, and adjustment functionality, integrated with other Oracle applications
  • Powerful burdening functionality
  • Rule-based general ledger account functionality
  • Comprehensive reporting functionality with drilldown capability
  • Capable asset creation and CIP cost collection
The key features of Oracle Project Billing are:
  • Robust contract project creation functionality, enabling distinction between project types, revenue accrual and invoice methods, billing cycles, and contacts
  • Flexible agreements in multiple currencies with either hard or soft limits
  • Budgeting for revenue in multiple currencies, separately from cost
  • Organization-level and project-specific billing rate schedules and overrides
  • Versatile billing retention and tax functionality
  • Flexible revenue accrual calculation
  • Optional capability to create invoices using invoice methods differently from the way revenue is accrued
  • Optional capability, using Date-Effective Funds Consumption, to have revenue and invoice generation use the same logic to determine what funding to consume
  • Optional capability to apply receipts to an agreement as advance amounts, and reduce the balance on the advance when expenditure or event transactions are invoiced
  • Several powerful invoice management features, including holds, currency selection, and review/approve/release functionality
  • Robust adjustment functionality, including billable status change, selective recalculation and write-off management
  • Reports for unbilled receivables and unearned revenue
  • Integration between Oracle Project Billing and other Oracle applications
The key features of Oracle Project Resource Management are:
  • Comprehensive, shared resource repository with Oracle HRMS
  • Shared schedules and availability
  • Concise requirements definition
  • Targeted searches
  • Automated approval processing
  • Self-service staffing functions grouped by role
  • Global resource deployment
  • Actual and scheduled utilization
  • Project financial forecasts
  • Capture time and expense
  • Integration with the Oracle Projects Foundation
Key features of Oracle Project Management are:
  • Integrated project planning and tracking
  • Issue and change management
  • Budget and forecast oversight
  • Real-time project performance management through visual status indicators for key performance areas and individual measures
  • Configurable project performance reporting packs periodically generated and distributed to recipients by e-mail
  • Robust project security and access
  • Intuitive and easily personalizable user interface
  • Integration with everyday Project Management tools
Key features of Oracle Project Collaboration are:
  • Access to structured workspaces such as the Team Member Home page
  • Collaborate toward issue and change resolution by sharing information and assigning actions to appropriate people
  • Documentation of progress against assigned work
  • Management of documents and deliverables
  • Secure and intuitive user interface
Key features of Oracle Daily Business Intelligence for Projects are:
  • Simple setup and out-of-the-box reporting
  • Project profitability reporting through portal pages
  • Reporting of key performance indicators across the business cycle
  • HTML-based reports that display summary and trend information, and provide drill-down to detail information
  • Data access secured by organization and operating unit
  • Cross-project reporting in different reporting dimensions
  • Reporting for multiple calendar types — enterprise, fiscal, and project
  • Display of information by year, quarter, month, and week periods
  • Comparison of current actual amounts to prior year, prior period, and budgets
  • Reporting by enterprise and functional currency
Key features of Oracle Project Portfolio Analysis include:
  • Creation and management of portfolios made up of projects
  • Comprehensive portfolio analysis tools
  • Periodic and ad hoc planning cycles
  • Dynamic project weighting and scoring based upon defined selection criteria
  • Ability to create multiple project assessment scenarios for individual portfolios
  • Full range of portfolio analysis reports, charts, and graphs
  • Robust project portfolio approval workflow

1 comment:

  1. Regards
    Sridevi Koduru (Senior Oracle Apps Trainer
    LinkedIn profile -
    Please Contact for One to One Online Training on Oracle Apps Technical, Financials, SCM, Oracle Manufacturing, BI Publisher, OAF, ADF, SQL, PL/SQL, D2K at | +91 - 9581017828.