Question:
How to implement Oracle Fusion Project Financial Management?
Answer:
Below mentioned are the high-level steps to implement Oracle Fusion PPM Cloud Financial Management:
Step 1. The first implementation step is to configure the Project Financial Management offering in the Setup and Maintenance work area by selecting the relevant offering, functional areas, and features that you want to make available to implement.
Step 2. To implement Project Financial Management, you must have the Application Implementation Consultant role (ORA_ASM_APPLICATION_IMPLEMENTATION_CONSULTANT_JOB).
Step 3. Use the Project Financial Management and Grants Management offering to configure how you manage projects, including how to plan, budget, forecast, manage awards, collect costs, bill customers, and report performance.
Step 4. You can implement Project Financial Management by "Using Functional Areas" or "Using Implementation Projects".
Step 4.1. Functional Areas
Functional areas gives you the flexibility to set up different functional areas of the offering at different times.
Step 4.2. Implementation Projects
Using this method, you create an implementation project to generate a list of setup tasks, assign tasks to various users who are responsible for managing setup data, and monitor progress of the completion of the setup tasks.
When you enable all functional areas and features the following tasks lists that are available to you
- Define Initial Users for Project Financial Management
- Define Enterprise Profile for Project Financial Management
- Define Financial Reporting Structures for Project Financial Management
- Define Organization Structures for Project Financial Management
- Define Project Organizations
- Define Users and Security for Project Financial Management
- Define Project Foundation Configuration
- Define Project Control Configuration
- Define Project Costing Configuration
- Define Project Billing Configuration
- Define Project Performance Reporting Configuration
- Manage Project Templates
- Define Budgetary Controls for Project Financial Management
- Define Subledger Accounting Rules for Project Financial Management
- Define Transactional Business Intelligence Configuration