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Posts Tagged ‘Oracle Primavera’

Oracle has just published a new EPPM Board whitepaper.

Mike Sicilia, SVP and GM of the Oracle Primavera Global Business Unit, and the rest of the Enterprise Project Portfolio Management Board met to discuss and assess the quality of project portfolio performance information available to executives.

“Quality is of course the key value in this pursuit, because no organization suffers for a lack of information quantity,” Mr Sicilia said. “Rather, the emphasis is on providing focus, and aligning the insights generated with the values and measures most directly connected to the decision making process.” Read the rest of this entry »

By Terri Maginnis

What is Expected Finish in Primavera P6?

Expected Finish is a date field that is available at the activity level in P6 (activity table only) and P6 Professional (activity table and activity details). This field can be used when updating your schedule in order to indicate when you expect on-going activities to be completed. This can be very useful when you are involved in a project where the team gives you the date they expect to finish the work instead of the amount of time they need to complete the work. As a matter of fact, this is a very common situation on a project. This may be due to the fact that it is more natural for the human brain to come out with a date rather than calculating the time/effort that is necessary to reach that date.

The Main Benefits of Expected Finish
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Oracle issued a press release today announcing a new Project Portfolio Management (PPM) solution named Oracle Primavera Prime. Oracle Primavera Prime is the first Enterprise PPM offering designed to leverage Oracle’s Engineered Systems vision, a tightly integrated technology “stack” of Oracle hardware and software components, to deliver superior performance and ROI.

The first module in the Oracle Primavera Prime suite is Oracle Primavera Prime Capital Plan Management. Oracle Primavera Prime is integrated with Oracle’s Primavera P6 and enables time-phased details to be shared between each solution related to budget, cost and schedule progress.

The full press release is below.
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By Kimberly McDonald Baker

We want to be sure you don’t miss a new case study article featured in the November 2012 issue of Profit Magazine, titled “Unifying Financial and Project Management” In this article you will learn about Colonial Pipeline Company’s integrated Oracle E-Business Suite and Primavera systems, and a few of the benefits that Colonial is receiving.

With the new, integrated Oracle system, Colonial will have all project related financial records and information in one centralized repository. Project managers and the leadership team will be able to view individual projects or overall capital spend easily. With the new system, Colonial expects time spent on monthly status reporting to decrease by 75 percent, from 8,000 to 2,000 project management hours annually.

“This is a paradigm shift of work for our project managers from doing data manipulation to actually being a project manager,” says Phillip Chandler, Financial Controls Administrator at Colonial Pipeline Company. “This allows them to support our customers both internally and externally in a more effective manner.”

Chandler says Project Partners has helped Colonial implement best practices into its processes, making the company more efficient. “The Project Partners team is sensitive to the specific needs of Colonial. At the same time, they are able to present solutions from an outside perspective that we also need to grow as a business,” says Chandler. “Project Partners has provided the expertise and professionalism that we needed for developing and implementing our project.”

You can read the full article here.

By Randy Egger
President, Project Partners LLC
Former chief architect of Oracle E-Business Suite Projects applications

Over 20 years ago, Finance and IT organizations (under the direction of the Chief Financial Officer), were in control of systems and desperately wanted to instill some financial controls and measures into the Delivery organizations that ran projects. The battle was always that the Project Managers (PMs) didn’t want to be controlled by departments they felt had no understanding of the world of project management, they wanted complete flexibility to best deliver their projects, and they were not concerned with the CFO’s desire for visibility into projects. Most PMs managed projects using personal systems based on Microsoft® Excel or Microsoft Access. The more sophisticated project managers used Microsoft Project, and the most advanced firms used Primavera, Cascade, Mantix, Artemis, and Cobra. BUT, the project systems used by PMs seldom could reflect accurate cost data which then made it difficult to really know the financial health of the project. Therefore, many PMs simply managed to effort and schedule.

In the “old days” a job code equating to a project was part of the general ledger chart of accounts – and most PMs were not strongly concerned about financials. So, how could you let accountants manage financials and project managers manage projects? You needed a system that allows both worlds to obtain the information that they wanted in the format that they wanted. To meet this need, in the early 1990’s Oracle released its first Project Accounting (PA) system: a true project based sub-ledger.

When the initial implementations of PA started, it was the Finance group that was imposing controls onto the Project Managers. Finance wanted visibility into ongoing projects, hence Finance was making most of the decisions, which generated friction between the organizations. To meet the requirements driven by Finance, PMs needed to change the way they were managing projects and that introduced a large opportunity for Change Management.

Getting structure into a non-structured environment was the primary challenge. When companies have been doing things a certain way for decades, it is VERY hard to change that culture… so compromises are made in an attempt to balance the needs of both organizations. Some folks would create a Work Breakdown Structure (WBS) to map to a Cost Structure simply so that they could track and control costs. Other companies placed intelligence into both the Project number as well as the WBS … because that was the way it was always done in the past. Some would claim that it made controlling charges easier while others would claim that it made reporting easier. But, in both cases, Project/Task naming was mirroring the way a General Ledger chart of accounts is structured, and not the way a project manager manages a project.

As time progressed, operations and project-based delivery organizations matured and developed a better understanding of what is needed to facilitate harmony between Finance and Project based Operations. At the same time, Oracle developed a Project Management system that was closely linked to its Project Accounting application. When Oracle released its Oracle Project Management (PJT) application and companies began to implement it, it became clear that Oracle had taken one step closer to really bridging the Accounting world to the Project Management world. But that still was not enough. PMs wanted and needed an EASY tool to assist them with their Project Management needs. Then, Oracle made the smart decision to purchase Primavera.

For those companies that implemented Oracle Project Costing and Project Billing only, without a futuristic vision of having a truly integrated Project Management system in place, trying to implement any form of integration of Project Accounting to a Project Management system became a horrible mess. When that happens, the only real thing that can be done is to update the implementation of Project Costing and Project Billing with a clear understanding of how it would integrate with either Oracle Project Management or Primavera. If there are other major issues that also need to be addressed, then a complete reimplementation of these modules should be considered.

Any company that is upgrading to E-Business Suite Release 12, or implementing R12 for the first time, will have the opportunity to rethink or redefine how they will move to become a truly project centric organization. Whether you are implementing for the first time, updating your implementation or re-implementing, thinking through the business needs that address both Project Accounting and Project Management will be paramount for your future long term success.

This issue applies to more firms than one might initially expect. I have always stated that “every company is a project company … they just don’t know it yet.” As more and more organizations decide to operate their firm or certain divisions on a project basis to better understand costs and level of effort and to develop repeatable processes using a structured Project Management methodology they will look to Oracle’s Enterprise Project Portfolio Management solutions, which remain the most complete in the market. And they will benefit from the significant evolution of these applications that enable Finance and Project Management to work together in harmony.

By Kimberly McDonald Baker

Project Partners is pleased to announce that we will be presenting six papers at the Collaborate 11 conference in Orlando, Florida in April.  While at the conference, be sure to visit us in Booth 953 in the Exhibit Hall, and enter to win a Kindle. Read the rest of this entry »