Project Partners Blog


Archive for the ‘Services’ Category

Author: Wendy Lamar | Managing Principal Consultant | Project Partners
Oracle E-Business Suite R12 Project Certified Implementation Specialist


Through this three (3) part educational web-series, Project Partners will arm you with critical steps and insight into a Project Financials cost-effective solution. This unique solution offering will assist administratively burdened organizations like yours to effectively manage Project Financials around Capital spend through all phases of the Capital Lifecycle (Concept Definition, Funding Approvals, Execution, Reporting, and Managing Project Costs).

WHY CAPITAL PROJECTS? – WEBINAR REGISTRATION INFORMATION

CLICK TO REGISTER HERE for our FINAL PART (3) of the three (3) part series as we explore how Project Partners has addressed the pain associated with AFE’s and the manual efforts.  We will showcase how we’ve developed an easy to use Authorization for Expenditure solution that extends the functionality of Oracle EBS Projects applications and walk you through the solution focused around project costing to your specific business requirements, robust functionality, and use of authorizations for expenditures to further efficiency gains and extensive return on investments.

MISSED PART 2?  Don’t Worry…CLICK HERE to get a downloadable recording so you will be up-to-speed!   

Have Questions?
Simply reach out to us and our experts will immediately assist, provide additional information, and ensure you have associated playbacks. We look forward to your attendance, and will set up a call to fully understand your needs, and offer next steps around a Project Financials cost-effective solution that best fits your organization.

P: #1.650.712.6203 Email: cfryc@projectp.com

Through this three (3) part educational web-series, Project Partners will arm you with critical steps and insight into a Project Financials cost-effective solution. This unique solution offering will assist administratively burdened organizations like yours to effectively manage Project Financials around Capital spend through all phases of the Capital Lifecycle (Concept Definition, Funding Approvals, Execution, Reporting, and Managing Project Costs).

WHY CAPITAL PROJECTS? – WEBINAR REGISTRATION

CLICK TO REGISTER HERE for PART 2 of the three (3) part series as we explore the WHY and HOW to leverage EBS Project Financials for Capital Projects. We’ll walk you through the solution focused around project costing to your specific business requirements, robust functionality, and use of authorizations for expenditures to further efficiency gains and extensive return on investments.

MISSED PART 1?  Don’t Worry…CLICK HERE to get a downloadable recording so you will be up-to-speed!   

Have Questions?
Simply reach out to us and our experts will immediately assist, provide additional information, and ensure you have associated playbacks. We look forward to your attendance, and will set up a call to fully understand your needs, and offer next steps around a Project Financials cost-effective solution that best fits your organization.

P: #1.650.712.6203 Email: cfryc@projectp.com

Your Organization Could Have a Whole New Level of VISIBILITY INTO PROGRESS & PERFORMANCE OF PROJECTS?

PROJECT PARTNERS ORACLE PRIMAVERA UNIFIER CONSULTING SERVICES has successfully helped many of our customers by providing their organizations a best-in-class cloud-based solution that enables governance across all project phases, from planning and building to operations and maintenance.

The Oracle Primavera Unifier solution manages capital projects and facilities of any size in every vertical market. It combines rich cost management and control, document management, schedule and resource management, fund management, and more through “base” pre-built modules. In addition to its robust functionalities, it also has the ability to create custom modules to meet each organization’s unique business requirements.

We are a Primavera Authorized Reseller and are considered by our customers as one of the best in “Unifying”, integrating and tying your data together, even if your organization is running outside of the Oracle footprint. That’s our proven strength.

GO TO THE NEXT LEVEL WITH A BETTER PLAN FOR A RAPID PROJECT EXECUTION.

CLICK HERE NOW
To learn more about the FEATURES & BENEFITS and get a glimpse into how our
Oracle Primavera Unifier Consulting solution works with a brief DEMO HERE.

For immediate response/call back please connect with us here:  P: #1.650.712.6203   Email: cfryc@projectp.com

Through this three (3) part educational web-series, Project Partners will arm you with critical steps and insight into a Project Financials cost-effective solution. This unique solution offering will assist administratively burdened organizations like yours to effectively manage Project Financials around Capital spend through all phases of the Capital Lifecycle (Concept Definition, Funding Approvals, Execution, Reporting, and Managing Project Costs).

WHY CAPITAL PROJECTS? – WEBINAR REGISTRATION

CLICK TO REGISTER HERE for the three (3) part series as we explore the WHY and HOW to leverage EBS Project Financials for Capital Projects. We’ll walk you through the solution focused around project costing to your specific business requirements, robust functionality, and use of authorizations for expenditures to further efficiency gains and extensive return on investments.

REGISTER HERE TODAY.
Can’t make the scheduled series? Not a Problem…Click here to let us know and we will connect
with you regarding a replay.

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Our prebuilt, configurable Microsoft® Excel workbook to submit, control and monitor all
scheduled processes and reports for Oracle ERP Cloud.

Helping hundreds of customers just like “Franny” to efficiently manage scheduled processes and reports in Oracle Cloud. The Cloud Process Scheduler is a unique process and report scheduler workbook available to the enterprise from Operations and Finance to HR and Sales, empowering these teams and enabling any user to:

  • Define scheduled processes and reports that need to be run periodically
  • Setup fixed and variable parameters for each process and update variable parameter dates quickly.
  • No need to remember parameters or the order in which processes need to run thereafter, it does it automatically
  • Setup process dependencies to enable efficient workflows.
  • Do not need to wait for system response time navigating the Oracle Cloud screens / fields.
  • Easier data entry when processing multiple Operating Units.
  • Start the entire set of processes with 1-click. Reducing the number of keystroke by 100%.
  • Organize work into a group of activities and then process it as a unit.
  • Monitor the status of each process in the set as it completes, while you are easily completing other work.

To learn more about the FEATURES & BENEFITS and get a glimpse into how the Cloud Process Scheduler really works, take a few minutes and view a brief Cloud Project Financials DEMO HERE. We believe that this product will significantly change how you manage your processes and reports in the Cloud and enable you to increase your user productivity.

HOW DOES MY ORGANIZATION GET STARTED?

CLICK HERE NOW FOR OUR SPECIAL THIRTY (30) DAY FREE TRIAL.

Questions?
Simply reach out to us and our experts will immediately assist, provide additional information, demo and next steps.
MORE ON CLOUD PROCESS SCHEDULER

P: #1.650.712.6203 Email: cfryc@projectp.com

 

Providing Our Customers With Better Project Delivery Through Full-Service…
PROJECT APPLICATION & PROCESS ASSESSMENTS

Whether helping you uncover hidden project challenges stemming from your current functional and operational applications/processes to understanding the why and how to migrate to the cloud, our PROJECT APPLICATION/BACKGROUND PROCESSES ASSESSMENT services give you the rigorous framework you need to achieve success quickly.

Will Partner With You to Assess Your Project Applications and Processes Inside and Out.

Projects is the link that can penetrate your entire organization and requires careful analysis to maximize efficient operations. If you are experiencing what appears to be a pain in your organization’s business process and applications, then now is the time to LOOK UNDER THE HOOD.

CLICK HERE

Get started with SIMPLE next steps to obtain Project Partners holistic approach to a full assessment and associated discount offer.

FOR ANNOUNCEMENT | IMMEDIATE RELEASE:

Project Partners is pleased to announce that they have been selected by The Metropolitan Water District of Southern California as the Delivery Partner for its Project Controls and Reporting Systems (PCRS) project.

Half moon Bay, CA–June, 2018 – Project Partners, the world’s foremost Experts in Enterprise Project Portfolio Management™ for project-centric organizations has been awarded the Project Controls and Reporting Systems (PCRS) RFP by its client The Metropolitan Water District of Southern California.  The Metropolitan Water District of Southern California (MWD), founded in 1928 and headquartered in Los Angeles, CA, is a regional wholesaler that delivers water to 26- member public agencies – 14 cities, 11 municipal water districts, one county water authority – which in turn provides water to 19 million people in Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties.

MWD is an existing customer of Project Partners, and together the two firms have established a strong working relationship with key stakeholders and internal project management teams. Project Partners first initial engagement was a successful upgrade of MWD’s Primavera P6 to version 8.1 and installation of OP3 integration solution. Since that time, Project Partners has continued to engage MWD as a partner resource, providing strategic consulting assistance around their project related business needs.

On MAY 4, 2017, MWD issued a public RFP for Project Controls and Reporting Systems (PCRS) and Project Partners submitted with a winning response.  “We credit our solid project success with MWD, customer success references, and the ability to leverage our strategic partnership with Senturus, a leader in Cognos reporting, including a successful completion of a complex Cognos solution roll-out, ” says Tamim Kulaly, Project Partners VP of Primavera Solutions. “Our entire team is thrilled to continue the work with MWD and look forward to providing a successful implementation and upgrade to reduce their time and costs, improve project controls and reporting, and ultimately enabling them to better anticipate and meet future business demands.”

The winning scope of engagement includes an upgrade and configuration of the Oracle Primavera P6 application (P6) from Release 6.2.1 to P6 EPPM, latest release. The conversion and/or creation of approximately 300 in-progress and future project schedules using Metropolitan’s defined templates; the building of a Cognos BI reporting system consisting of a user interface, dashboards, reports, emailed reports, data warehouse, and custom Extract, Transform, and Load (ETL) code; installation and configuration of an integration tool to integrate Oracle E-Business Suite’s Project Accounting and Grants Management (PAGM) application with Oracle Primavera P6 (hereinafter the PAGM-P6 integration application); and, other ancillary work as required.

The Project Partners team that worked on the RFP and with MWD management throughout the process to deal close was comprised of Randy Egger, President/CEO, Tamim Kulaly, VP of Primavera Solutions and Terri Maginnis, Primavera Practice Director.


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About Project Partners
Project Partners, LLC is a privately held firm headquartered in Half Moon Bay, California, offering consulting services and enterprise software products to project-driven firms. Founded in 1997 by Randy Egger, the former chief architect of Oracle’s Projects Applications, Project Partners has grown to include many talented people, including some of the original Oracle Projects® developers, support specialists and implementation consultants. Over 400 firms around the world have selected Project Partners for expert services and products that deliver an enterprise project management solution, increasing productivity and reducing operating costs. We are proud to be an Oracle Certified Partner Specialized in Oracle E-Business Suite and Oracle Primavera applications as well as an Oracle Certified Education provider and an Oracle Primavera Authorized Reseller, including Oracle Cloud Financials and Oracle Cloud PPM.

Project Partners has executed global implementations for clients who manage tens of thousands of projects, thousands of users, multiple languages and currencies. At Project Partners we are not satisfied until our customers are delighted, and it is this dedication to joint success that has garnered us the highest praise from our clients. We are proud to be widely recognized as The Experts in Enterprise Project Portfolio Management™.

About The Metropolitan Water District of Southern California (MWD)
Founded in 1928 and headquartered in Los Angeles, CA, is a regional wholesaler that delivers water to 26- member public agencies – 14 cities, 11 municipal water districts, one county water authority – which in turn provides water to 19 million people in Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties. Metropolitan is governed by a 38-member board of directors who represent their respective member agencies ensuring each member agency is part of the governance of Metropolitan.

Contact Information

  • Media contact:
    Rebecca Portela
    Vice President Marketing | Business Development
    rportela@projectp.com

Project Portfolio Management (PPM) is about more than just managing multiple projects.  A PPM solution provides centralized visibility into the entire project portfolio to help planning and scheduling teams identify the most suitable approach to deliver projects and programs. A successful Project Portfolio Management solution consists of three fundamental components that must be implemented in adherence to business value and strategy.

1 – Project Selection

To be successful with project portfolio management, you should select and initiate projects based on your organizational capabilities and goals.  In order to do this, you should have a systematic method and decision process.

A good way to start is by gathering a Project Inventory  current projects.  Here are some examples of information you will want to capture.  You will want to capture the goal of the project, project dates, resources being allocated to the project by role and other criteria, the risk of the project (may be as simple as High, Medium, or Low); the expected return of the project, and who benefits from the project.

You will also want to Score and Categorize Your Projects.  To do this, identify logical criterion for scoring and categorizing projects (e.g. strategy alignment, limiting risk, increasing efficiency, increasing sales, reducing expenses or process steps, Benefits/Feasibility, legal, regulatory, security, etc.).  Set up a scoring mechanism for each project based on the criteria (Note:  The scoring range will be agreed on for each criterion and each person can score projects based on their biases).  Aggregate or average the scores from all individuals to come up with a score for each criterion for each project.

Once completed, you will now gather your project inventory including the scores along with current and forecast costs (for new projects, use expected costs).  List your projects by rank order based on scores and put a line under the project sum equaling your total available portfolio budget (Note: Rank may not be based on score alone. Modify your total budget based on any contingency funds you are holding).  Projects above the line can be initiated or are already in progress.  Projects below the line are held in reserve should you kill or cancel other projects or come up with more money.

2 – Project Resources

No company has the resources to meet all of its business needs in the best of times and even more importantly when times are tough.  PPM gives you visibility into resource availability and allocation across your project portfolio. By ranking and prioritizing projects, you’ll be able to strategically allocate resources and maximize project delivery.

To be successful with project portfolio management, you should know where your people are working and what more can be done with available capacity.  You don’t have to have sophisticated tools to track your resources but you do need common methods for definition of resource information (location, department, division, etc.); competencies (skills and levels), where the resource is currently being allocated (both project and non-project); and resource development opportunities.

To start, define your resources using the information identified above and more if needed.  Establish each resource’s available capacity to work based on their project focus and the resource calendar.  You will then inventory your Total Resource Capacity (TRC) by resource and aggregate individual resource capacity by role (Note:  If a resource has multiple roles, you will have to define how to split out their TRC by role). For each resource, sum up their total allocation to current projects.  This is their Project Allocated Capacity (PAC).  You can do the same for each role across all active or proposed projects.  Finally, you can compute the Total Available Capacity (TAC) by computing TAC = TRC – PAC.  Do for both resources and roles over time.  You’ll be able to forecast the availability of resources for future projects by capacity and role needed.

3 – Project Information

Project portfolio management relies heavily on accessibility and accuracy of information. You should have common procedures, applications, and training for the effective sharing of relevant information to drive portfolio analysis, decision making, goal setting, project status, project prioritization/ranking, and consumed and available resource capacity.

Throughout the project lifecycle, from intake to closeout; be sure to communicate risks, issues, decisions, changes, lessons learned, and actions taken and document the reasoning for each.  Set up logs for each project to track the information and make the information available to all stakeholders.

Successful PPM relies on these three fundamental components and must be managed in adherence to business value and strategy. When implementing a Project Portfolio Management solution, keep in mind that change should be managed at both the organization and project levels.  A corporate change management (organizational change) discussion may be a great way to introduce a PPM solution and get everyone on board.

Learn more: 5 Major Benefits of Implementing a Project Portfolio Management Solution

Optimize your PPM implementation with Oracle Instantis EnterpriseTrack. This end-to-end PPM solution provides a top-down approach to managing, tracking, and reporting on enterprise strategies, projects, portfolios, processes, resources, and results.

For more information visit our Resource Library

Are You Ready for the New Revenue Recognition Standards?

Part one of the six-part blog series

On May 28, 2014, FASB and IASB jointly issued ASC 606, Revenue From Contracts With Customers. The new standard will significantly affect current revenue recognition practices of many companies.

Depending upon the business’ current model and revenue recognition practices, this standard could have a significant impact on the amount and timing of revenue recognition, which in turn, will impact key performance measures and debt covenant ratios, and may even change the way the company looks at capital investment and compensation.

A few clarifications have been issued subsequently via Supplemental Updates: ASU 2014-09, regarding the effective dates of the new standard. The new standards are effective for public entities and some non-profit companies for the first interim period within the annual reporting periods beginning after December 15, 2017. Non-public entities have an additional year, beginning with interim periods within annual reporting periods after December 15, 2018.

The whole intention here is to standardize revenue recognition practices across industries as existing practices fall short when it comes down to how value is delivered to the client based on obligations explicitly or implicitly specified in contracts.

These changes are only a few quarters away. Are you ready?

The core principle in the converged standard requires that an entity recognize revenue to depict the transfer of promised goods or services to a customer in an amount that reflects the consideration in exchange for those goods and services. To accomplish this goal, a five step process has been outlined in the new standard. Every contract with a customer should be analyzed using these five steps to afford accurate reporting.

Five Steps to Revenue Recognition

Five steps to ASC 606 Revenue Recognition

There are specific rules defined for each of these steps. Follow our blog series for a deep dive into each of the five required steps.

Mapping the New Standard to Oracle EBS Projects

The following diagram shows how the five steps shown above map to Oracle e-Business Suite (EBS) Projects. The Purple colored steps need a determination to be made by the business based on the contract. The roles involved in this determination include Finance, Legal, Contract Administration and Project Managers.

An additional step (between the original steps 4 and 5) has been added to the overall process that talks to delivery of services and recording of completion of the performance obligations identified, before final revenue recognition can take place.

ASC 606 Customer Contract Revenue recognition Oracle EBS Projects

Contract Types

In order to better understand each of the steps shown above, let’s take into consideration three types of contracts typical to service delivery organizations:

Service Contracts based on selling hours (Time & Expense-“T&E”): In this scenario the delivery organization contracts to provide a specified number of hours of specialized resources who in turn will deliver to the client’s requirements. There are no specific deliverables listed in the contract. These types of contracts are slowly disappearing as clients demand more specifics before signing contracts.

  • Pure Professional Service Organizations (“PSO”) – Management Consulting

Time & Material (“T&M”) Service Contracts based on specific Deliverables AND Fixed Price Service Contracts based on Milestones: These are very typical service contracts. They are combined together here even though they have completely different billing methods because they will need to be treated the same for revenue recognition purposes under the new standard. Additional contract types like Cost Plus or some variant of this with different types of fees will also fall under this category for Revenue Recognition as long as these contract all specify specific obligations/deliverables on the service provider.

  • PSOs, Engineering, IT Services, Marketing/Advt. Services

Unit Price Based Contracts: Commonly referred to as Schedule of Values (SOV) contracts. These contracts typically specify numbers of units to be delivered for one or more types of items after an initial design/confirmation period.

  • Construction, ATO/ETO based Manufacturing Firms
  • SOV functionality is introduced in release 12.2.5

Our New Revenue Recognition Standards blog series demonstrates how project-centric companies can use Oracle EBS Projects to manage and comply to the new standards with minimum disruption to existing business practices. A case study for each contract type will be used to explain how each step can be interpreted and implemented within Oracle EBS Projects Applications.

Up Next –  Step 1: Identify the Contract with the Customer – Revenue Recognition Standards

Learn more on managing ASC 606 revenue recognition with Oracle EBS Projects-
Read the white paper
View the presentation

Questions?
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