Oracle published an interesting article that lists the top three trends for the Engineering and Construction industry in 2012. We want to make you aware of this article.
“Technology professionals serving the engineering and construction industry should be aware of three major emerging trends in 2012,” said author Scott Bartlett.
The #1 Trend: Construction projects will continue to increase in complexity
The #2 Trend: Economic pressures will continue to force companies to work globally, with increased competition for the same projects
And the #3 Trend: Owners are demanding a more efficient way of turning over all documents at the end of a project
At Project Partners we see this same focus among our multi-national Engineering and Construction customers and are glad that Oracle’s products support these key trends.
You can read the full article here: http://www.oracle.com/us/corporate/profit/opinion/012312-sbartlett-1496768.html
By Steve Derivan
Businesses of various shapes and sizes across the globe continue to invest in and expand the footprint of their ERP applications. Much of this increased spend includes mission critical projects such as
1) Upgrades
2) Deploying new applications and
3) Migrating new businesses, acquired companies, countries and/or re-engineered processes into an existing “corporate” ERP.
So how do these companies begin the process? What are the key considerations in play to complete these daunting tasks within an Oracle ERP environment?
Oracle E-Business Suite Applications Releases 11i and R12, and Oracle Fusion Applications – the significant majority of existing Oracle ERP customers use these 3 applications suites.
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by Robert D. Anderson, CPA
On January 18th, I presented a webinar featuring a case study of a firm that is successfully using Oracle E-Business Suite Projects, Oracle Order Management and Oracle Receivables, and I showed how they manage their revenue. This customer leverages R12.1.3 revenue management functionality for GAAP revenue recognition and uses EBS Projects with a different revenue recognition basis. In this webinar I also showed how creative approaches to integrating Orders and Projects are possible with minimal development, that robust solutions support long term business needs while also providing flexibility for growth, and that simple approaches lead to the best long term solutions.
Sound interesting? You can view the webinar here
Have two minutes? View our new video showing how easy it is for you to manage your timecards and charge time to a project, while leveraging Oracle Time and Labor Functionality - from your smart phone. Check it out here
Did you know you can use the latest release of Primavera P6 Enterprise Project Portfolio Management on your smartphone? Did you know it has integration with Microsoft(R) Outlook?
Attend our Webinar and see it all, live. Or view the recording later at your convenience.
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Neeraj Garg will be delivering an Encore presentation of his Collaborate 11 paper: Contract Based Project Billing in Oracle Fusion Project Portfolio Management on September 8th. This webinar will be recorded so if you can’t attend the live webinar, be sure to view the recording after the event.
Why is This Webinar Important?
Oracle Fusion Project Portfolio Management offers Project Contracts features that are part of the Fusion Enterprise Contracts model. Fusion Project Contracts offers sell side contracts functionality that helps to drive revenue and billing independent of project setup and execution. This presentation highlights the core features including a flexible approach to billing by contract lines, contract level summaries, consolidated bill plans, billing controls, improved user interface and improved process efficiencies.
To Register or View the Recording: http://www.projectp.com/resources/webinars.php
By Ravi Shankar, PgMP, PMP, PMI-RMP and PMI-SP
For large construction projects, interest incurred during the construction period for borrowed capital is typically capitalized for the duration of project construction, until the Capital Asset is generated. In Oracle E-Business Suite Applications, the Capital Projects functionality supports these requirements. To utilize this functionality you would set up an Interest Schedule (similar to a Burden Schedule) and associate it with the project type of the Capital Project. This schedule provides for the association of interest name, interest rate for the organization and other relevant details for interest calculations, compounding effect, expenditure type exclusions, etc.
Oracle Projects generates the interest to be capitalized once per project for each General Ledger period. Based on the system linkage function of the expenditure type to be used for interest (generally it is the Miscellaneous type class), the appropriate auto accounting function and SLA need to be properly configured to ensure the interest capitalized gets posted in the GL appropriately. Capitalization interest calculation is for the differential expenditure items on a cumulative basis, i.e. until the Construction In Process (CIP) is ready to be capitalized or Asset lines are ready to be generated. Once generated and transferred to Assets, the process stops generating interest on those expenditure items. Interest is capitalized at the same task level as the expenditure item.
For tasks that don’t have specific Asset Assignments, i.e. tasks used to accumulate Common Costs for the project, Oracle EBS Projects provides various allocation methods so that the Asset generation process does not create Unassigned Asset lines. The interest capitalization process is run at month end, before generating asset lines. The Asset line generation process does not show the interest capitalization amount in the CIP.
Your firm made a large investment in Oracle Applications because management knows that using Oracle E-Business Suite Projects will help increase profitability and ensure that project objectives are met. But your project managers and administrators already have full time jobs, and they frequently remind IT and Line of Business Managers that they don’t have extra time to learn new software or hours every day to use project management programs. End-user adoption or acceptance of new software is often the biggest hurdle to bringing in new programs, no matter how great the functionality is.
But the fact remains: your firm needs to meet its business goals and has bought or is considering buying Oracle EBS Applications because of the improved business performance that results from a successful implementation.
So how can YOU help your firm maximize the return on its software investment?
Here’s a great start: You can have your project managers and administrators trained on Oracle EBS Projects in 82% less time and spending 40% less time on a daily basis, using a familiar Microsoft® Excel front-end, ensuring rapid end-user adoption, and putting your company on the fast track to the many benefits provided by Oracle.
View this webinar and see how our User Interface Applications free up your firm’s employees to make more strategic contributions and achieve business objectives.
By Ravi Shankar, PgMP, PMP, PMI-RMP and PMI-SP
The functionalities relating to Contingent Workers (CWK) have been enhanced in Oracle E-Business Suite Applications R 12.1 and above. Prior to this release, there were limitations in effectively using CWK across multiple projects, if their PO does not reference these individual projects in its Distribution. Further, multiple concurrent associations of different Purchase Orders (with different rates, if applicable) and different projects referenced in its Distribution were not supported. Read the rest of this entry »
By Ravi Shankar, PgMP, PMP, PMI-RMP and PMI-SP
The Oracle® E-Business Suite Project Management application (PJT) integrates with Microsoft® Project out-of-the-box to provide for bi-directional integration between Oracle E-Business Suite Projects and Microsoft Project (MSP). This provides for downloading the project structure and current working version of the project from Oracle and updating them in MSP to create the detailed workplan structure, together with resource assignments and resource scheduling. Read the rest of this entry »
