Boost Your Business with Oracle Cloud Project Management
Oracle PPM Cloud is a complete, comprehensive, and integrated suite of applications widely used in project-driven organizations and companies. Oracle PPM Cloud is built on open standards using a service-oriented architecture and common platform, which can be adopted as part of the Oracle cloud suite or deployed with existing solutions. Oracle PPM Cloud improves how project-driven organizations and professional services team's work. Oracle PPM Cloud provides a single source of truth and a centralized repository to store and access project-related data and information for project managers and finance groups to use. The Oracle PPM Cloud suite gives improved visibility to project costs, project revenues, work breakdown structures, resource utilization, and overall project profitability.
Oracle PPM Cloud addresses the unique challenges most of the project-centric organizations and departments face today, including:
- Engineering and Constructions
- Professional Services
- Public Sector
- Industrial Manufacturing
- Internal IT
- New Product Development
There are 2 offerings under the Oracle PPM Cloud suite, and each of the offerings include the following applications listed below:
Project Financial Management
Project Execution Management
Project Performance Reporting
As described above, eight key project financial and execution management modules offer a complete cloud solution.
- Project Control – Used to manage project financial planning, budgeting, progressing, and forecasting.
- Project Costing – Used to capture and account for project costs and commitments.
- Project Billing – Ensures contract compliance when billing and recognizing revenue.
- Project Contracts – A common framework for contract administration, management, and control.
- Project Performance Reporting – Multi-dimensional reporting for project/financial analysis and action.
- Cloud Project Management – Collaborative project planning and scheduling for project teams.
- Task Management – Task info, details, collaboration, and social project management.
- Resource Management – Analyzes and optimizes resource allocation and utilization.
Challenges Faced by Organization in Cloud Portfolio Management
Today, project-driven organizations face many challenges due to the lack of a complete cloud project management solution. Some of the key challenges include:
- Keeping track of multiple projects and their tasks being executed at the same time.
- Tracking of costs and revenue accrued on individual projects.
- Managing resources and their cost rates.
- Increasing operational efficiency and reduce costs.
- Separately tracks cost and revenue budgets.
- Implementing control on cost and revenue budgets.
- Identifying best-fit resources and maximizing utilization.
Key Features of Oracle PPM Cloud
- Centralized location and a single source of truth for project data.
- Versatile and template-driven project definition.
- Robust expenditure control, collection, and adjustment functionality, integrated with other Oracle applications.
- Rule-based general ledger account derivation functionality.
- Separately maintain cost and revenue budget with multiple currency options.
- Fully integrated with other Oracle modules like financials, procurement, enterprise contracts, and HCM.
- Collaborative project planning and scheduling.
- Integrated with workflows for setting up approvals per business needs.
- Ability to implement one module, a product family, or an entire suite per your business needs.
- Offers a mobile solution for a project manager and team members.
- Embedded transactional intelligence allows faster reporting and decision-making.
- Ability to integrate with Microsoft projects for effective cloud project management.
- Trends and historical analysis for project key performance indicators.
- Provides an Excel template to load data for projects, tasks, costs, budgets, forecasts, and billing events.
Benefits of Using Oracle PPM Cloud
- Make better and informed decisions by accessing real-time data.
- Determines true cost of executing projects.
- Ability to monitor project performance.
- Capture CIP costs for capital assets.
- Achieve more productivity and profitability through intuitive user interfaces and role-based dashboards.
- Lowers the administrative burden of project planning and management through guided processes.
- Optimize the allocation and utilization of resources by identifying best-fit resources if using Resource Management.
- Allows project team members and project manager collaboration to plan, execute, and deliver the task in a timely manner.
- Offers mobile apps feature that allows project managers to manage the tasks and access project status from anywhere, anytime.
Integration With Other Oracle Modules
Oracle PPM is integrated with other Oracle modules like Sales, Inventory, Payables, Assets, and General Ledger. The project suite works with other modules to provide a complete enterprise cloud project management solution.
- Inventory issues are transferred through Oracle Cost Management to Oracle Fusion Project Costing to capture the consumption cost.
- Purchase Order Commitments are transferred to Oracle Fusion Project Costing to keep track of project commitments.
- Supplier and Expense Report costs are interfaced to Oracle Fusion Project Costing to capture the purchase and employee costs.
- CIP project costs are captured in Oracle Fusion Project Costing and capitalized in Oracle Fixed Assets.
- Project-related Invoices and Revenues are generated in Oracle Fusion Project Billing. Revenues are transferred to Oracle GL, and Billing information is interfaced to Oracle Receivables for Invoicing. The invoice information, like the number and date, is tied back to Oracle Project Billing for tracking purposes.
- Integration of Oracle Payroll with Oracle Projects enables managers to distribute actual payroll amounts as project labor costs.
- The integration between Time and Labor (OTL) and Project Costing allows project managers and accountants to manage timecards for employees and contingent workers.
Jade’s Oracle Cloud Implementation Services
Jade has a pool of skilled and experienced consultants who can provide a cloud 360 assessment, implementation, and support services in the Project Financial Management suite, which includes the following applications:
- Project Control
- Project Costing
- Project Contracts
- Project Billing
- Project Performance Reporting
Project Control and Project Costing
Project Contracts and Billing
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