Define 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

About this task

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

Procedure

  1. Navigate to Project > Projects > Create New.
  2. Create a project.
    OptionSteps
    From the Projects list Navigate to Project > Projects > Create New.
    From the project workspace
    1. Navigate to Project > Projects > Project Workspace.
    2. Click New Project button on My Projects Space page.
    3. Enter Project name and Start date.
    4. Select a template to use for the project and click OK.
  3. On the Project form, fill in the fields.
    Note: The fields are shown when the Project Portfolio Management 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 Name of the project.
    Project manager Project manager assigned to this project.
    Status Current status of the project. This information is updated from the Overall health field in the most recent project status report of the project.
    Number System generated number with a configurable prefix.
    Percent complete Percentage of the project that has been completed.
    State Current state of the project. All new projects begin as Pending. The state of the project can be set on the Project form or derived from the task state.

    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 Progress state type, the project state is updated to the default Work in Progress state.

    Description Detailed description of the project.
    Calculation 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.
    Generate time cards for top task only The field is deprecated starting with the Jakarta release. The functionality is available through the Allow time card reporting on field in the Preferences tab.
    Note: The field may be visible if the form was configured to add this field in the previous release.
    Details tab
    Portfolio 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 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.
    Investment Class Type of investment class category assigned to the project:
    • Run: Investment made to sustain the existing business.
    • Change: Investment made to implement a change in business.
    Investment Type Investment type of the project.
    Execution Type Execution methodology used to run the project: Waterfall, Agile, and Hybrid.

    Default value is Waterfall.

    Demand Demand from which the project has been created. The field is visible only if the project has a demand associated with it.
    Phase Current phase of the project.

    In addition to the Phase field, the different project phases are also shown visually at the top of each project record with the phase formatter. The selected phase is highlighted in the phase formatter.

    Default phases: Initiating, Planning, Executing, Delivering, and Closing.

    Department Department in a business unit to which the project belongs.
    Business Unit Business unit to which the project belongs.
    Impacted Business Units Business unit which is impacted by the project.
    Business Capabilities If the project is to change, enhance, or add one or more business capabilities, they can be associated to the project. Business capabilities are defined in the Application Portfolio Management module.
    Business Applications If the project is to change, enhance, or add one or more business applications, they can be associated to the project. Business applications are defined in the Application Portfolio Management module.

    This field displays all the business applications that are related to the business capability selected in the Business Capabilities field.

    Dates tab
    Schedule Work schedule to be used for this project:
    • The default schedule is an 8-hour work day (from 8 to 12 and 1 to 5). A day is considered as a work day, not a 24-hour day.
    Planned start date 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 A.M. and the default schedule is in use (which has an 8 A.M. start date), then the default task start is 8 A.M. the next day.

    Note: The planned start date must be within 10 years of the current date. The project property Max date span into future or past from the current date controls the behavior for project planned start date.

    Click the calendar icon and select a date to start this project. Projects do not automatically start on the planned start date.

    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 Intended date the project ends. After you add tasks, this field is calculated from the tasks.
    Planned duration 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: The project property Max duration (in days) allowed for a project/project task controls the behavior for project planned duration.

    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.

    Planned effort 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 Date that this project began.
    Actual end date Date that this project ended.
    Actual duration 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 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 the Update actual effort from time card field is set to Yes on the Preferences tab on the project record.

    Business Case tab
    Note: When a demand gets converted into a project, the data in Business Case gets carried forward from demand to project.
    Strategies Strategic objectives of the organization that the project fulfils. A project can fulfil multiple strategic objectives.

    If a Business Unit for the project is selected in Details tab, then the choice list displays the business strategies for the selected business unit along with other enterprise strategies.

    Goals Goals associated to the selected strategy. A project can fulfil multiple goals.

    If a strategy is not selected, then all goals are displayed in the choice list.

    Business case Business arguments that support the project.
    Risk of performing Risks associated if the project is carried out.
    Risk of not performing Risks associated if the project is not carried out, for example, risk of loss of opportunity.
    Enablers Key enablers for the project.
    Barriers Major barriers to the project.
    In scope Scope of the project. It is the set of boundaries that define the extent of a project.
    Out of scope Activities or deliverables that are not in the scope of the project. Anything which is not defined in the scope is out of scope.
    Assumptions Assumptions made for the project. Assumptions help to define scope and risks, and fine-tune the estimates for time and cost.
    Financials tab
    Planned cost 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.

    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.

    Actual cost Actual cost of this project. Select a currency icon and enter a value.
    Discount Rate % Project discount rate.

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

    Planned benefit 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 Planned cost values.

    (Planned benefit - Planned cost)

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

    (Planned return/Estimated cost x 100)

    Net present value 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, expecting to receive $1.00 in two years 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 % 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 tab
    Risk Score Risk score is calculated based on the project risk.
    Value Score Value score is calculated based on the ROI% of the project.
    Size Score Size score is calculated based on Planned Cost of the project.
    Score Project score 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:
    • You can 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 List that enables users to subscribe to project notifications.
    Work notes list List of users that 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.
    Preferences tab
    Allow time card reporting on 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 on the 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, project score is recalculated when the projects planned ROI%, estimated cost, or risk is modified.
    • If the value of the field is set to No, project score 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 Option to constrain the resources in the Assigned to and Additional assignee list fields on project and the project task forms to be derived only from the associated allocated resource plans.
  4. Click Submit.

What to do next

Use the following related links and lists to capture the important aspects of the project and complete the project record:
Table 2. Project form related links and lists
Field Description
Related Links
Create Agile Phase Creates an agile phase for the project. An agile phase includes stories in Stories related list.
Create Test Phase Creates a test phase for the project. A test phase includes test cases in Test Cases related list.
Planning Console Opens the Project Planning console.
Project Budget Allows to allocate the budget to the project.
Project Workbench Opens the Project workbench.
Create Baseline Creates a baseline.
Related Lists
Project Tasks 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 Child project records of the current project.
Resource Plan Lists the resource plans of the project and project tasks. To create a new resource plan, click New.
Baselines Collection of all planned dates for all tasks and milestones at the time you create the baseline.
Stories List of stories in the current project.
Time Cards Lists the time cards submitted against the project. To create a new time card, click New.
Requirements Lists the project requirements with their status.

To create a new requirement, click New.

To add existing requirement to the project, click Edit.
Risks Lists the risks that are part of the project.

To create a new risk, click New

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

Issues Lists the issues included in the programs.

To create a new issue, click New

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

Status Reports Lists the status reports from the project.

To generate a new status report, click New. See, Create a project status report.

Cost Plans

Lists the cost plans included in the project.

To create a new cost plan, click New.

Benefit Plans

Lists the benefit plans included in the project.

To create a new benefit plan, click New.

Project Budget Lists the project budget by fiscal year. Click the amounts in the list to revise them.
Expense Lines Lists the expense lines of the project.

To create a new expense line, click New. 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.