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Oracle Fusion Project Portfolio Management is a modular suite of applications designed to work as a complete enterprise project portfolio management (PPM) solution or as extensions to your existing PPM applications portfolio.
Till date, if you take any project management tools , it's never been complete pacakge in all sense. Some may have excellent accounting and process integration for cost collection and billing, but lacked project management functionality like scheduling. Other’s lacked processing functionalities. Some of them have excellent analytical capablity but have lacking transaction processing capabilities or scheduling functionality.
If you consider PMI Standard for Portfolio Management, "PPM is the centralized management of one or more portfolios, which includes identifying, prioritizing, authorizing, managing, and controlling projects, programs, and other related work, to achieve specific strategic business objectives."
Fusion PPM will be promises for a one-stop shop for project managers. It creates an environment where Project Managers can execute the entire project life-cycle without looking for information from other sources. It will establish standardization, improve efficiency and generate competitiveness. Oracle Fusion PPM (aka Project Portfolio Management) is going to be a major step towards creating a best in class PPM solution covering all aspects of
- Project Costing
- Project Billing
- Project Control
- Project Performance Reporting
- Project Integration Gateway
- Project Analytics-KPI
- Integrated project, financial and contract management(the first integration will be Primavera)
- Optimized and streamlined project delivery
- Comprehensive project planning, execution, control and scheduling solution
Some of the Fusion PPM features deferred for future release are:
- Resource Management
- Grants Management
- Project Scheduling
- Portfolio Analysis
- Earned Value Management
Some of the key features of Fusion Apps –PPM which will impress to everyone are:
- Improved Usability: PPM enhances user productivity and reduces support costs
- Embedded Business Intelligence: Improves decision making by answering key business questions while users enter transactions
- PM Operational Dashboard: Provides near real-time project financial information & exception-based management . see the details in next section
- Cost Collection Center: Reduces integration costs and provides a consistent user interface across products
- Contract Based Project Billing: Cuts down on billing errors and improves flexibility of internal project execution
- Social Project management: Improves communication and collaboration by creating a community for the project team
- Co Existence with Primavera P6: Allows customers to adopt Fusion applications incrementally based on business needs
A note on PM Operational Dashboard
The key features embedded as part of Project Manager's dashboard in Fusion is called "project scorecard", this they can use to Track and review the overall health a project.
- Capability to view performance at project, task, resource level and by time phases
- Easy access to information, no more navigation across modules and spreadsheets to get the data
- Exception based management, pushing of error/exception to Project Manager for corrective action
- Performance Measures to enable viewing the data according to the context
- Cross-project comparison for various performance measures
- Availability of real time project financial data
- A graphical and tabular overview of performance
- Simpler user interfaces with global search and drill down capability
Integration with Other Application
In addition to Core Financial Management applications, the first release of Oracle Fusion Applications includes Project Portfolio Management (PPM) and Procurement.There is two-way synchronization with Microsoft Project .There is integration with Oracle Fusion Applications Enterprise Contract Management for contract-related data.
This integration will bring lot of advantage
Integrated with back office finance operation for Project Financial activity
- Project Manager Dashboard with Cross-project insights gives better drill down capability
- Billing & Revenue recognition by contract , makes independent
- Cost collection and there processing will be faster because of timely insight into validated Project cost
Overall its look Fusion PPM has been designed, keeping in mind the needs of a project intensive organization.
Oracle Reference for more details