oracle project accounting/contracts presentation integration overview
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Oracle Project Accounting/ContractsPresentationIntegration Overview
2
What does OKE stand for?
OKE is an acronym for Oracle Project Contracts
O Oracle
K Contracts (legal abbreviation for)
E Engineer to Order
3
OKE Project Scope
• Defining, implementing, and training employees on standard processes and technology for integrated contract execution and management
• Converting active contract data– Converting contract data related to active Construction projects from legacy system and Oracle
Purchasing to OKE (8 Construction Projects)
– Scanning those contracts and related documents and saving them to Documentum
ContractExecution
BusinessDocument
Management
ContractChange
Management
Requisition/Purchase
Order
ProjectCloseout
Reporting and Analysis
Processes: Technology:
ProjectContracts
4
What is OKE?
• A repository for contract financials and reporting information
• A structure for executing and managing contracts and their related documents (e.g. letters of intent, business documents, and change orders)
• A tool to link to contracts and business documents in Documentum
• A tool for contract creation--you cannot print out your final contract from OKE
• Generating additional work
• Intuitive--it will take some practice to get used to its functionality
OKE is...
OKE is not...
5
Benefits
Consistent contract processes and technology
Automated reminders to facilitate contract compliance
Single data entry point for contract information
One version of the truth
Real-time access to comprehensive contract data in a single contract
repository
Enhanced reporting capabilities
Compliance with Sarbanes-Oxley Act
Intensive use of Oracle Workflow for approval authorizations
How will you benefit from OKE?
6
Background
Systems view
HFM
PowerPlantAsset
Management
Bid Models inExcel
Spreadsheets
Oracle ProjectAccounting
Budget
Actuals
Actuals at thecompany level,Consolidated
forecast
Unconsolidatedforecast, Budget
Oracle GeneralLedger
Actuals
CWIP forconstruction Projects
Commitments
Oracle ProjectContracts
Forecast"Trends"
Capitalized Interest
OracleAccountsPayable
MaximoActuals
HyperionPlanning
Unposted Invoices& Actuals Actuals
Actuals at companylevel
Payroll
OraclePurchasing
Depreciation, Additions, Retirements, & Capitalized
interest
Invoices
Actuals
Actuals
PurchaseOrders
Commitments &Actuals
Fixed asset balances,depreciation & CWIPfor non-constr. capital
projects
EDW
Reporting
7
High-level Execution/Management Process
BusinessDocument
Management
ChangeManagement
ProjectCloseout
Reporting and Analysis
ContractExecution
Requisition/Purchase
Order
Contract Execution• Enter letter of intent and contract
information in OKE• Utilize approval workflows• Access contract documents via
Documentum
Business Document Management• Send and receive business documents• Enter business document information in OKE• Access business documents in Documentum
Requisition/Purchase Order• Initiate requisitions via OKE• Import and autocreate requisitions into
POs in Oracle Purchasing
Change Management• Enter trends, internal contract adjustments,
and change orders
Project Closeout• Closing contracts and the project
Reporting and Analysis• Inquire on contract data• Run contract reports
8
Integration Points of OKE with Other Systems
Oracle ProjectContracts
Oracle ProjectContracts
Oracle ProjectAccounting
Documentum
OraclePurchasing
Trends Requisitions
Document Images
Commitments
OracleAccountsPayable
Actuals
9
What is a Project?
• A Project is a body of work to which costs are charged and
tracked
• A Project can be made up of one or many tasks, which identify
the specific breakdown of the project work– The hierarchy of tasks is called the Work Breakdown Structure (WBS)
ProjectProject
Task 1Task 1 Task 2Task 2
Task 1.1Task 1.1 Task 1.2Task 1.2 Task 2.1Task 2.1 Task 2.2Task 2.2
Coding happens at the lowest level task
only
10
What is a Project Template?
• A Project Template is a pre-defined WBS structure that can be
copied and modified to create new projects
• Mirant has various groups of templates/projects
11
Template Example - Construction
00Indirect Accounts
01Sitework & Demolition
02Concrete
ConstructionTemplate
Tasks
0200000Boilerhouse HRSG
Slabs
000Home Office
Administrative Charges
010Site Prep, Grading &
Improvement
020Powerhouse Concrete
0203000Turbine / Generator
Equipment Foundation
0204000Misc. Powerhouse
Equipment Foundations
Sub-Tasks
LowestLevelSub-Tasksfor 020
12
What is a Parent Project?
• Organization of multiple sub-projects under a primary project
• Allows inquiry across sub-projects
BusinessDev
Parent (Master)
Sub-Projects
Business Development
Tasks
Tasks
FinanceOps & Maint
Equipment Construction
Finance Tasks
Operations & Maintenance
Tasks
Equipment Tasks
Construction Tasks
(Cost Codes)
13
Changes in Project Accounting Example - Contract to PO
Oracle Project Contracts
Contract Deliverables Tracking System
Budget
$ X$ X$ X$ X$40M
Commitments
$ X$ X$ X$ X$35M
Actuals
$ X$ X$ X$ X$0M
Forecast toComplete
$ X$ X$ X$ X$0M
Forecast atCompletion
$ X$ X$ X$ X$35M
Variance
Requisition PO
Board ApprovedProject Budget
Project Status Inquiry (PSI) in Project Accounting
$ X$ X$ X$ X
$5M
Oracle Purchasing
Commitments
Oracle Project Accounting
BDConstructionFinanceO&MEquipment
$40M $35M $0M $0M $35M $5MParent
Project
Mirant agrees to buy engineered equipment from a vendor for $35M.
(Updated Weekly)(Updated Nightly) (Updated Nightly)
14
Changes in Project Accounting Example - Invoice
POOracle Purchasing
InvoiceOracle Payables
ActualsOracle Project Accounting
Project Status Inquiry (PSI) in Project Accounting
Vendor sends Mirant a progress billing for $10M.
Budget
$ X$ X$ X$ X$40M
Commitments
$ X$ X$ X$ X$25M
Actuals
$ X$ X$ X$ X$10M
Forecast toComplete
$ X$ X$ X$ X$0M
Forecast atCompletion
$ X$ X$ X$ X$35M
Variance
$ X$ X$ X$ X
$5M
BDConstructionFinanceO&MEquipment
$40M $25M $10M $0M $35M $5MParent
Project
Board ApprovedProject Budget
(Updated Weekly)(Updated Nightly) (Updated Nightly)
15
Changes in Project Accounting Example - Trend
Oracle Project ContractsForecast to Complete
Oracle Project Accounting
Project Status Inquiry (PSI) in Project Accounting
Mirant realizes the equipment may cost $40M instead of $35M.
Budget
$ X$ X$ X$ X$40M
Commitments
$ X$ X$ X$ X$25M
Actuals
$ X$ X$ X$ X$10M
Forecast toComplete
$ X$ X$ X$ X$5M
Forecast atCompletion
$ X$ X$ X$ X$40M
Variance
$ X$ X$ X$ X
$0M
BDConstructionFinanceO&MEquipment
$40M $25M $10M $5M $40M $0MParent
Project
Board ApprovedProject Budget
(Updated Weekly)(Updated Nightly) (Updated Nightly)
Trend Deliverables Tracking System
16
Changes in Project Accounting Example - Change Order
Project Status Inquiry (PSI) in Project Accounting
Mirant and Vendor agree the equipment will cost $39M.
Budget
$ X$ X$ X$ X$40M
Commitments
$ X$ X$ X$ X$29M
Actuals
$ X$ X$ X$ X$10M
Forecast toComplete
$ X$ X$ X$ X$0M
Forecast atCompletion
$ X$ X$ X$ X$39M
Variance
$ X$ X$ X$ X
$1M
BDConstructionFinanceO&MEquipment
$40M $29M $10M $0M $39M $1MParent
Project
Oracle Project Contracts
Change Order Deliverables Tracking System PO
OraclePurchasing
Commitments
Oracle ProjectAccounting
Board ApprovedProject Budget
(Updated Weekly)(Updated Nightly) (Updated Nightly)
Trend
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