Oracle Projects basics

In this Blog, I will be giving an introduction on what is Oracle Projects module in the Oracle Apps Ebiz Suite.

 Oracle Projects is suite of modules which combines

Project  Costing

Project Billing

Project Foundation

Project  Management

Project Resource Management

and Project Portfolio Management  

Oracle Projects is very useful for any Project Based Organizations. In today's world i can say all he organizations are based on Projects for ease of maintenance and tracking. 

What is Project Costing ?

  To put it in a simpler manner, module to calculate the cost and account it.  In any organization there should be an application which keeps track of the costs of the projects and categorize the costs. I can say Project Costing is similar  to one of the applications, but not limited to calculating and accounting. I will explain in detail in the coming posts, how cost is calculated and accounted in Oracle Projects Costing. 

What is Project Billing ? 

Lets take an example of Services Company.  Any Services company has customers whom they serve and inturn bill the clients for the service offered.  In such scenarios Project Billing is handful in billing the customer. Not only that you can calculate revenue for the projects, which is very important. In detail explanation will be in my future posts. 

What is Project Foundation ?   Project Foundation provides the basic infrastructure and components for the Costing and Billing to work. So what it means ? For Costing and Billing to work we need basic infrastructure /components like Projects, Tasks, WBS(Work Break Down Structure) etc, Cost Rate Schedules, Bill Rate Schedules.These structures are created using Project Foundation APIs and hence the name 'Foundation'.

What is Project Management ?  

Offcourse the name itself explains that it is to manage the projects. The functions involve Project Tracking, Performance Tracking and other standard project management functions. 

What is Project Resource Management ? 

This is for manging the resources of the project. Functions involve assigning resources, moving resources /deallocating resources, competency management , creation of vacancies, advertising the vacancies, evaluating the skills of the resources etc. 

For more info: see the Oracle Projects Fundamentals User guide.