Oracle Cloud Project Portfolio Management (PPM) is a comprehensive solution designed to manage the financial and operational aspects of projects. One of its core functionality is Project Control.
Project control plays a important role in planning, managing, and monitoring project financials across the project lifecycle.
It enables organizations to control project budgets, track costs, manage forecasts, and ensure compliance with financial governance policies.
Project Control Model
PPM usesOracle Fusion Project control setup mainly to Manage Project Plan,Progress,budgeting and forecasting.
PPM handles Two business process which are vital to project management through Project Control Configuration
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Project Control serves as the financial backbone of project management in Oracle Cloud PPM. It provides a structured and integrated approach to monitor project finances and performance, helping project managers, accountants, and stakeholders make informed decisions. By using this function, businesses can:
- Set and maintain budgets and forecasts.
- Track actual costs against planned expenditures.
- Enforce budgetary control and governance.
- Monitor project financial health through real-time dashboards and reports.
This ensures that projects are delivered on budget, align with financial objectives, and meet regulatory compliance.
Planning Project:Mainly focuses on Project scope,Schedule,Resources and budget
Controlling Project:Capturing actual amounts and track progress,Generate forecasts and managing project Performance
Setup Task for Project Control Configuration
1.Manage Period Profile: Define this setup to decide how time periods are grouped.and displayed .
This is required for editing budgets,forecasts,and project plan cost
2.Manage Spread Curves:This setup is used to distribute quantity,cost and revenue amount automatically across a range of accounting or Project accounting periods
3.Manage Resource Classes Spread Curves: It is used to review and update resource classes to specify the spread curve to be used
4.Manage Financial Plan Type: This setup decides how to control planning scenarios for Project budgeting and forecasting
5.Manage Project Plan Type: here we provide the default planning option .
This actually cascade down to the template and project levels
will explain all the above setup in details in my next post.Stay tuned
watch here collection process in Oracle fusion planning
