Oracle Projects Status Inquiry Details

Oracle Projects provides a default configuration for the displayed columns in Project Status Inquiry (also known as PSI). With Project Status Inquiry (PSI), you can review the current status of your projects and then drill down to commitments, actuals, and events detail for tasks and resources for more detailed review of a project and its tasks.

Run the Update Project Summary Amounts process for your projects. The Project Status window uses the data that is summarized by this process.

Project and Task PSI Columns

Column Prompt	Column Description
Project or Task	Project Number or Task Number
Over Bgt	Over Budget: Displays an asterisk (*) if the ITD actual burdened cost is greater than 110%  of the ITD burdened cost budget amount; if not over budget, column is blank.
ITD - Rev Bgt	ITD (Inception-to date) revenue budget amount
ITD - Act Rev	ITD actual revenue
ITD - Cost Bgt	ITD current burdened cost budget amount
ITD - Act Cost	ITD actual burdened cost
PTD - Cost Bgt	PTD current burdened cost budget amount
PTD - Act Cost	PTD actual burdened cost
ITD - Bgt Hrs	ITD current labor hours budget amount
ITD - Act Hrs	ITD actual labor hours
PTD - Bgt Hrs	PTD current labor hours budget amount
Fin % Complete	Financial percentage complete: ITD actual burdened cost / total current burdened cost budget amount * 100
Hrs % Complete	Hours percentage complete: ITD actual labor hours / (Total current budget labor hours * 100)
Est. to Complete	Estimate to Complete: Total current burdened cost budget amount - (ITD actual burdened cost + PTD commitment burdened cost)

Navigation : Project Status Enquiry à Project Status Inquiry à Enter Project number

1. Navigate to the Project Status window.

2. Enter the search criteria to find the project(s) you want to review.

3. Choose the Find button.

4. To view totals for the project rows returned based on your search criteria, Choose totals.

Oracle Projects displays only the projects with a current budget that is summarized or with summarized actuals and commitments. This window displays the Current Period as the current reporting period by which Oracle Projects calculates the values for projects. Amounts for all summarization brackets (period–to–date, prior period, year–to–date, and inception–to–date) are calculated as of the current reporting period.

To review actuals details for a task or resource:

1. Navigate to the Project Status window.

2. Find the project(s) you want in the Find Project Status window.

3. Choose the Actuals button from either the Task Status or Resource Status window.

By default, Project Status Inquiry displays expenditure items incurred in the last period that was summarized for the project. To view expenditure items from prior periods in the Expenditure Items window, change the default date range using the Find Expenditure Items window. You can set the start date to the earliest possible date by choosing the Clear button.

To drill down to the Oracle Payables Invoice Overview window:

1. Navigate to the Project Status window.

2. Find the project(s) you want in the Find Project Status window.

3. Choose the Actuals button from the Task Status window. Use the Find Expenditure Items window to reduce the number of expenditure items that appear in the Expenditure Item Details window.

4. Choose the AP Invoice button to view the related invoice in the Oracle Payables Invoice Overview form.

The AP Invoice button is only enabled (1) for expenditure items whose expenditure type class is either Supplier Invoices or Expense Reports and (2 if function security is implemented in such a way that the user is able to see the button.

Oracle Project Creation Steps

Navigation: Double click on the projects menu in the Navigator

The Projects screen will be displayed.

Select the project template using which you need to create project and click on find button

Select” Copy To” Button

Enter the project details in the quick entry fields, fields marked as ‘Required’ are  to be mandatory entered

Click OK to complete project creation process.

Approve the Project

Project need to be approved before any transactions are raised against it. Click on the Change Status button and select the status approve.

 

Project Options

You specify project and task options to control how Oracle Projects processes your projects. Project and Task options are available at various levels of your financial and/or work plan structure. Use the Projects and Tasks windows to specify project and task options.

Mandatory Project Options for Costing and Capitalization Project

STRUCTURES

Use this setup option to perform the following tasks for a project template or project:

·         Enable a work plan structure and a financial structure, and define their integration

·         Enable program management

·         Enable deliverables

TASKS

In Tasks you need to enter the following details

1.      Task Number needs to be entered.

2.      Task Name needs to be entered.

3.      Description of the Task can be its name.

4.      Task Start Date is mandatory and cannot be prior to the Project Start Date.

5.      Task End Date needs to be within the active dates of the Project.

6.      In the Task Details window ensure that Allow Charges Checkbox is enabled in order to incur costs against a particular task

7.      In the Task Details window, ensure that Capitalizable Checkbox is enabled in order to capitalize the assets booked under a particular task.

Currency

When a new project is created, the default value for the project currency code is copied from the functional currency defined in the Implementation Options for the project-owning operating unit. You can override the default currency code and enter default conversion attributes for the project in the Costing tab of the Currency window.

 

Costing Currency Options

You can optionally define costing conversion attribute default values for the Project Functional Currency and Project Currency.

These attributes are default values, and entry is optional. The attributes you select are displayed as the defaults during expenditure entry, and are used as defaults for imported transactions.

Resource List Assignments

You assign resource lists to a project to indicate which resource lists you want to use for summarizing project actual amounts for project status tracking. When you open the Resource List Assignments window for a project, Oracle Projects automatically displays the default resource list assignment from the project type, and you can enter additional assignments if necessary. Note that you can choose only one assignment as the drilldown default.

Resource List Assignments Window

You can enter the following information in the Default Resource List Assignment window:

Resource List: Choose the resource list you want to assign to this project. The resource list defaults from the project type.

Use: Indicates the purpose or use of the resource list, such as Status Reporting. Oracle Projects determines this value after you use a resource list in a budget.

Drilldown Default: Choose this check box if you want to automatically drilldown by resource list for project status tracking. If you enter additional assignments, only one assignment can be the drilldown default.

Assets

You can define assets for capital projects to account for capital assets and retirement adjustment assets. You define capital assets to account for assets that you plan to build or place in service during the course of the project work. You define retirement adjustment assets to account for costs and proceeds of sale associated with the retirement of group assets in Oracle Assets.

In Oracle Projects, you can define all of the information that is required to classify capital and retirement adjustment assets, and interface the assets, along with the associated costs and proceeds of sale amounts, to Oracle Assets as asset lines. For information on the attributes that you can define for an asset.

You can define assets for a capital project in the Assets window. To access the Assets window from the Projects, Templates window, select and expand Asset Information from the list of options.

 

Asset Assignments

After you define a capital asset or a retirement adjustment asset for a capital project, you can assign the asset to the project level, or to one or more tasks. You assign an asset to the project or to a task to associate the asset with the underlying costs or proceeds of sale. You can assign assets to top tasks and lowest tasks.

You must enter the Asset Name you want to assign to the project or task, and specify whether you want to use a Grouping Level for Specific Assets or Common Costs.

To enter asset assignments in the Asset Assignments window, you must select and expand Asset Information from the list of options in the Projects, Templates window.

Oracle Projects Profile Options

Profile	Value
GL Set of Books Name	Vision Operations (USA)
MO: Operating Unit	Vision Operations
HR: User Type	HR User
PA: Licensed to use Project Billing	Yes
PA: Licensed to use Project Costing	Yes (Oracle Projects allows you to perform all Project Collaboration functions)
PA: Licensed to use Project Management	Yes
PA Time:  Allow Entry of Negative Hours	Yes
PA: Expenditure Items Per Set	Yes
PA: Allow Project Time and Expense Entry	Yes
PA: Auto Approve Timesheets	No
PA: Debug Log Directory	/usr/tmp
PA: Debug Mode	Yes
PA: Default Burden Schedule Type	Firm
PA: Default Calendar	Vision Operations
PA: Default Public Sector	No
PA: Display Find Tasks Window	Yes
PA: Enable Budget Integration and Budgetary Control Feature	Yes
PA: Enable Enhanced Period Processing	Yes
PA: Expenditure Items Per Set	100
PA: Global Week Start Day	Monday
PA: Highlight Starting Tasks: Number of Days	7
PA: Require Work Type Entry for Expenditures	Yes
PA: Summarize Expense Report Lines	Yes
PA: Tasks to Display for Expenditure Entry	Chargeable tasks
PA: Transfer DFF with PO	Yes
PA: Cost Distribution Lines Per Set	Yes
PA: Allow Override of PA Distributions in AP/PO	Yes
PA: Default Expenditure Organization in AP/PO	Yes

Oracle Projects Expenditure Details

You charge expenditures to a project to record actual work performed or cost incurred. Actual expenditure could be timecards, expense reports, usage logs, and supplier invoices.

Expenditure on the project can be through various methods

1.      Preapproved Batches

      Preapproved Batches can be entered for 

• Timecards

• Expense reports

• Usage logs

• Miscellaneous transactions

• Burden transactions

• Inventory transactions

• Work in process transactions

                            

2.      Events

3.      Import from other modules:

Purchasing and Payables: - Oracle Projects fully integrates with Oracle Purchasing  Oracle Payables and allows you to enter project–related Requisitions, purchase orders, and supplier invoices using those Products

Assets : - Oracle Projects integrates with Oracle Assets, allowing you to manage capital projects in Oracle Projects and update your   fixed assets records when assets are ready to be placed in service

Project Manufacturing: Oracle Project Manufacturing is a solution for companies that manufacture products using projects or contracts. When used as a part of the Project Manufacturing functionality, Oracle Projects acts as a cost repository for manufacturing-related activities

Project Expenditure- Preapproved Batch-Time Cards

Nà ExpendituresàPre-Approved Batchesà Enter

1.                  Operating Unit: This is a new feature in R12. It gets defaulted from Profile Options.

       It’s a new feature in R12. You can define your Implementation options based on your    Operating Units. It means that from a single responsibility you can Define/Query Multiple Operating Unit based Implementation Options Set Ups. The same feature was not available in previous releases.

2.                  Batch. Enter a unique Batch name to identify this set of expenditures.

3.                  Ending Date. Enter the expenditure Ending Date for the batch. If you enter a date that is not the last day of an expenditure week, the system automatically updates the date to the next valid week ending date.

4.                  Description. Optionally enter a Description of the batch, or leave the field blank to use the name of the expenditure type class.

5.                  Class. Choose the expenditure type class for this batch.

6.                  Amounts. Optionally enter Control Totals and Control Count in the Amounts region. Use the Running Totals and Counts and the Difference column to verify actual versus entered totals.

7.                  Employee and Organization. In the Expenditures window, enter the employee or organization that incurred the cost.

For each expenditure item, enter the following information:

1.                  Expenditure Item Date. The date of the expenditure item.

2.                   Project Number. The Project Number to charge for this expenditure item.

3.                   Task Number. The lowest level Task Number to charge for this expenditure item.

4.                   Assignment Name. When Oracle Project Resource Management is installed, you can associate labor and expense report expenditures to scheduled work assignments.

5.                  Work Type. You can choose any active work type.

6.                  Expenditure Type. You can choose any expenditure type within the current expenditure type class.

7.                  Non-Labor Resource and Non-Labor Organization. If the expenditure type class for the batch is Usages, enter the non-labor resource and its owning organization. This enables you to track usage of company-owned assets.

8.                  Currency Fields. You can optionally display and enter the currency fields.

9.                  Quantity. The quantity of units (the unit of measure is determined by the expenditure type). For example, on a timecard, you enter the quantity for professional labor in hours. You can enter a mixture of units, such as currency and miles, for an expense report.

Project Expenditure – Preapproved Batch- Miscellaneous Transactions

Miscellaneous Transactions are similar to a journal entry in the GL.  They are used to make entries that may or may not have an employee or non-labor resource attached to them. 

Miscellaneous Transactions are used to track miscellaneous project costs. This expenditure type class is similar to usages. The difference is that, for miscellaneous transactions expenditure items, you are not required to specify a non–labor resource or a non–labor resource organization, as you are for usage expenditure items. Miscellaneous transactions may be used for the following costs:

– Fixed assets depreciation

– Allocations

– Interest charges

  Navigate to Expenditure à Preapproved Batchesà Enter

1.                                                 Batch: Enter a unique Batch name to identify this set of expenditures.

2.                                                 Ending Date: Enter the expenditure Ending Date for the batch. If you enter a date that is not the last day of an expenditure week, the system automatically updates the date to the next valid week ending date.

3.                                                 Class: Choose the Miscellaneous type class

4.                                                 In Expenditure entry screen window, enter the employee or organization that incurred the cost.

5.                                                 Organization:  It is the organization that is ordering or has ordered the goods or services, which may be different from the project owning organization.

           

Enter the Project, Task, Expenditure and quantity Information

Submit and Release the Batch.

Generate Cost

In order to compute various expenditures that are booked for a project Oracle Projects uses Distribution Processes.

Distribute Labor Costs: The process computes the labor costs for timecard hours and determines the GL account to which to post the cost.

Distribute Usage and Miscellaneous Costs: The process computes the costs and determines the GL account to which to post the cost for expenditure items with the following expenditure type classes:

Usages, Miscellaneous Transactions, Inventory and WIP transactions not already costed or accounted

Distribute Expense Report Costs:  The process computes the costs of expense report expenditure items, including adjustments, and determines the account to which to post the cost.