Create a project

Define important aspects of the project such as duration, estimated cost, and the net value to the organization.

Before you begin

Role required: it_project_manager
Note: In previous releases, the it_project_manager role was named project_manager.

About this task

You can create a project from the Projects list or project planning console.
Note: You can also create a project from project workbench or demand workbench.

Procedure

  1. Create a project.
    OptionSteps
    From the Projects list Navigate to Project > Projects > Create New.
    From the planning console
    1. Navigate to Project > Projects > Planning Console.
    2. Click the down arrow next to Planning Console.
    3. Select Create New Project. The Project form overlays the console.
  2. Fill out the Project form.
    Note: The fields are shown when the Project Portfolio Suite is active and the Project form is in the Basic view. Configure the form to see these fields.
    Table 1. Project form fields
    Field Description
    Project Name The name of the project.
    Project manager The project manager assigned to this project.
    Portfolio The primary portfolio to which this project belongs. A project can belong to multiple portfolios.
    Note:
    • If a project, for which the Portfolio field is not set, is associated to a portfolio using the portfolio form, then the portfolio name gets populated in the Portfolio field.
    • If a portfolio is deleted, the portfolio name is removed from the Portfolio field on the Project form.
    Program The program to which the project belongs.
    Note: If the Portfolio field is not set, you can select from the list of all programs in the system. If the Portfolio field is set, you cannot select those programs that belong to the other portfolios.
    Goal Enter the project goal. You can select only one goal. The goal is derived from the portfolio.
    Configuration item The configuration item (CI) affected by this project.
    Number A system generated number with a configurable prefix.
    State The current state of the project. All new projects begin as Pending and automatically change to Work in progress when you click Start project on the Project form.

    Following are the default states: Pending, Open, Work in Progress, Closed Complete, Closed Incomplete, Closed Skipped.

    You can also create a custom state, for each state type. Override the state dictionary attributes to add the custom state.

    The following example, explains the behavior.

    For project tasks, you have created a custom state called Testing for the Work in Progress state type. When you update the project task state to Testing, the project state is also updated to Testing. However, if you have not created a Testing state for the Work in Progressstate type, the project state is updated to the default Work in Progress state.

    Percent complete The percentage of the project that has been completed.
    Calculation The type of calculation to use for task dependencies:
    • Manual: task dates do not reflect any changes made to dependencies.
    • Automatic: task dates are automatically updated to reflect any changes made to dependents or child tasks.
    Description A detailed description of the project.
    Generate time cards for top task only The field is deprecated starting Jakarta release. The functionality is available through Allow time card reporting on field in Preferences tab.
    Note: The field may be visible if the form was configured to add this field in the previous release.
    Dates tab
    Schedule The work schedule to be used for this project:
    • The default schedule is an 8-hour work day (from 8 to 12 and 1–5). A day is considered as a working day, not a 24-hour day.
    Planned start date The intended date the project begins. This value is set to the earliest time that the project schedule allows.

    For example, if the project task is created at 3 P.M. and the default schedule is in use (which has an 8 A.M. start date), the default task start is 8 A.M. the next day.

    Note: The planned start date must be within 15 years of the current date.

    Click the calendar icon and select a date to start this project. Projects do not automatically start on the planned start date. The project actually starts when you click Start project on the Project form.

    Note: When you change the planned start date of a project, the associated cost plans and resource plan also change. The project property Change Resource Plan and Cost Plan Start Date with Demand or Project Start Date Change controls the behavior for project start date change.
    Planned end date The intended date the project ends. After you add tasks, this field is calculated from the tasks.
    Planned duration The expected duration of this project. After you add tasks, this field is calculated from the duration of the tasks. The duration also considers the project schedule, accounting for any non-work time in the schedule.
    Note: For example, if the default schedule is used, with a standard 8-hour work day, a project that starts at 8 A.M. on July 1 and ends at noon on July 2 is calculated as 1 day and 4 hours, not 28 hours.
    Any project or project task with no children is restricted to a maximum duration of 1500 days.
    Planned effort An estimate of how much time it takes to complete this project. This calculation sums up planned effort values for all tasks in this project. After you add tasks, this field becomes a read-only, roll-up calculation and overwrites any earlier entry that you made.
    Actual start date The date that this project began.
    Actual end date The date that this project ended.
    Actual duration The duration of the project from project start to project closure. As with planned duration, the actual duration shows total project time and takes the project schedule into consideration.
    Actual effort The actual number of hours charged to the resources on this project. If you are using the Time Cards application, it automatically calculates the value for this field. It uses the totals for the time worked from the approved time cards of all the resources who worked on a project and all its tasks.

    The field is not editable if Update actual effort from time card is set to Yes in Preferences tab on the project record.

    Financials tab
    Estimated cost An estimate of the cost of this project.

    This value is rolled up from the cost breakdown of the project.

    If there are no cost plans, the estimated costs of the project tasks are rolled up in this field.

    You can also enter the value manually. Select a currency icon and enter a value.

    Actual cost The actual cost of this project. Select a currency icon and enter a value.
    Budget cost Budgeted cost for this project. This field is automatically populated from the project budget breakdowns in cost plan breakdown table. When project funds are allocated for a fiscal year, the cost plan breakdown stores the budget allocation for each fiscal period. These amounts are rolled up and stored in the budget cost.

    To manually enter a value, select a currency icon and enter the value.

    Planned benefit The planned benefit for the project.

    This value is rolled up from the benefit breakdown of the project.

    You can also enter the value manually. Select a currency icon and enter a value.

    Planned return Planned returns value is derived from the difference of the Planned benefit and Estimated cost values.

    (Planned benefit - Estimated cost)

    Planned ROI% The result is calculated based on values in the Planned return and Estimated cost fields.

    (Planned return/Estimated cost x 100)

    Discount Rate % The project discount rate.

    The discount rate is the interest rate to determine the present value of future cash flows.

    Net present value The present value of future cash based on the given annual interest rate.

    It is a measure for comparing money spent today against future expected financial benefits. It helps when evaluating the overall investment performance.

    For example, at 12% discount rate, $1.00 today is worth $0.80 in two years. Therefore, if it is expected to receive $1.00 in two years, it is same as receiving $0.80 today.

    Net present value (NPV) is calculated from estimated cost per year, planned benefit per year and the discount rate for the project.

    Internal rate of return % The annual interest rate required to achieve an NPV of zero.

    Internal rate of return (IRR) helps to determine which projects can deliver higher rate of return in terms of revenue.

    Score Score of a project is calculated based on the individual scores of these attributes: risk score, value score, and size score, which in turn are calculated based on risk, planning ROI% and estimated cost attributes (on a project) respectively.
    Note:
    • Users are allowed to configure the formula for score calculation.
    • When a demand is converted to a project, the score calculated on the demand is carried forward to the project.
    Note: If the Estimated cost and Planned benefit values are rolled up from the cost and benefit plans, then the currency in which the roll up happens is determined by the currency property com.glide.financial_management.currency_code. If the property is not set, then the currency is derived from the global currency of the instance.
    Notes tab
    Watch list Allows users to subscribe to project notifications.
    Work notes list The list of users to receive email notifications when the work notes on the project are updated.
    Activity / Work notes Information about the milestones, impediments, or changes as the project progresses. Enter the notes in the Activity field and click Work notes. The text appears in the feed.
    Resource Cost tab
    Planned Cost Planned costs from the Resource plan associated to the project and project tasks.
    Allocated Cost Allocated costs from the Resource plan associated to the project and project tasks.
    Preferences tab
    Allow time card reporting on The level at which the time cards for project tasks can be created:
    • Project only: All the time cards for the project are created at the project level only. For example, if a user is assigned to multiple tasks in a project, then the time spent on all the tasks is recorded under one time card only for the project.
      Note: In Worker Portal, tasks of the project are listed in the Tasks tab. For these tasks, the Add to Time Sheetand Add selected to Time Sheet options are not available, only the Quick Add option is available. On clicking Quick Add, time card is created against the top project, not against the task.
    • Project tasks only: Separate time cards are created corresponding to each planned task.
      Note: In Worker Portal, the Add to Time Sheet, Quick Add, and Add selected to Time Sheet options are not available for the project.
    • Project and project tasks: Time cards can be created at project as well as project task level. This is the default set value.
    • No time reporting: No time cards are created for the project. If the user submits the time card manually, the business rules prevent the user from submitting the time card.
      Note: In Worker Portal, the Add to Time Sheet, Quick Add, and Add selected to Time Sheet options are not available for both project and project tasks.
    Update actual effort from time card Determines if the Actual effort field in Dates tab should be updated based on the hours entered in the time cards for the project.

    If it is set to Yes, then the Actual effort field is not editable. If it is set to No, then the actual hours from time cards are not rolled up to the project and task. By default, it is set to No.

    Update score on value change Determines whether to update the project score.
    • If the value of the field is set to Yes, score of a project is recalculated when the projects planned ROI%, estimated cost, or risk is modified.
    • If the value of the field is set to No, score of a project remains same even if the projects planned ROI%, estimated cost, or risk is modified. The value of the field can be set to No when the user wants to preserve the score value while converting project to demand.
    Derive assignee list from resource plan An option to constrain the resources in Assigned to and Additional assignee list fields on project and project task forms to be derived only from the associated allocated resource plans.
    Related Links
    Planning Console Opens the Project Planning console.
    Project Workbench Opens the Project workbench.
    Manage Stories Opens the Manage Stories console.
    Create Baseline Creates a baseline.
    View Story Points by Sprints Displays story points by sprints.
    Related Lists
    Project Tasks The tasks in the current project. Only the next-level tasks (immediate subtasks) appear in this related list.

    If there are any external dependencies created for the project, the corresponding shadow tasks are also listed.

    Sub Projects The child project records of the current project.
    Resource Plan Lists the resource plans of the project and project tasks. Click New to create a new resource plan.
    Baselines A collection of all planned dates for all tasks and milestones at the time you create the baseline.
    Stories The list of stories in the current project.
    Time Cards Lists the time cards submitted against the project. Click New to create a new time card.
    Requirements Lists the project requirements with their status.

    Click New to create a new requirement.

    Click Edit to add existing requirement to the project.
    Risks Lists the risks that are part of the project.

    Click New to create a new risk.

    Project risks are added with the program and the primary portfolio.

    Issues Lists the issues included in the programs.

    Click New to create a new issue.

    Project issues are added with the program and the primary portfolio.

    Status Reports Lists the status reports from the project.

    Click New to generate a new status report. See, Create a project status report.

    Cost Plans

    Lists the cost plans included in the project.

    Click New to create a new cost plan.

    Cost Breakdown Lists the project level cost breakdowns for each expense type with fiscal periods.
    Benefit Plans

    Lists the benefit plans included in the project.

    Click New to create a new benefit plan.

    Benefit Breakdown Lists the project level benefit breakdowns for each benefit category with fiscal periods.
    Project Budget Lists the project budget by fiscal year. Project budgets are created at the portfolio level and also appear in the Planning & Budgeting related list on the Portfolio form.
    Expense Lines Lists the expense lines of the project.

    Click New to create a new expense line. See, Create an expense line.

    Notifications Lists the external dependency related notifications raised in the successor project. The notifications are triggered as a result of changes made in the predecessor project.
  3. Click Submit.