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    Home Orlando IT Business Management IT Business Management Project Portfolio Management Multicurrency in Project Management

    Multicurrency in Project Management

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    Multicurrency in Project Management

    Use the multicurrency feature to execute a project or part of a project in a different geographic location that has a different local currency.

    The feature helps you to view the cost details of the project in a currency that is different from your functional currency. The values in the project's cost plans, benefit plans, and corresponding cost fields of the project form are also converted to a currency that you specify as project currency. Therefore, you don't need to convert the project currency to the functional currency of the project when the project is executed at a location that uses a currency different than your functional currency.

    Activation information

    Activate the PPM Standard Multicurrency (com.snc.ppm_multicurrency) plugin to enable the multicurrency features in Project Management. Activating the plugin enables the project currency view in project, cost plans, and benefit plans forms. With the project currency view, you can manage your project financials and cost plans in multiple project currencies.

    Note: Activating this plugin automatically activates PPM Standard (com.snc.financial_planning_pmo) plugin and therefore you get the option to switch between the default view and the project currency view.

    Project currency view

    In addition to the default view in the Project form, there is Project Currency view, which you can optionally enable to view the multicurrency fields. You can enable this view from the form context menu. The view appears only when you activate the PPM Standard Multicurrency (com.snc.ppm_multicurrency) plugin.

    Unlike the Default view, the Project Currency view contains multicurrency-related fields.

    You can designate a currency other than the functional currency as the processing Project Currency for a project. The Financials tab of the Project form has the Project currency field. You can select an active currency from the Currencies [fx_currency] table.

    Note:

    The Project currency field of a project becomes read-only field and locked down for updating the currency once you create a cost plan, cost plan breakdown, benefit plan, benefit plan breakdown, or an expense line for the project.

    Specify project currency in Demand

    In the Demand form, you can specify the project currency that you want to use for managing a project when you convert a demand to a project. The multicurrency feature is not available in Demand Management, therefore you can manage the demand only using your functional currency. For more information, see Create a demand.

    Projects in Project Workspace

    Track your projects in project currency in the Project Workspace. Create and monitor the cost plans and benefit plans for a project in project currency. For more information on project workspace, see Project workspace.

    To view the cost component in project currency at the grid level and at the breakdown level, see Create and manage cost plans and benefit plans for a project.

    Project status reports

    To view the planned and actual cost status of your projects in project currency, open the overview and cost sections of project status reports.

    • Enable project currency view in project-related forms

      Switch over to the project currency view to track the planned costs of a project in the selected project currency.

    • Cost rollup in project currency

      Cost rollup calculation in projects and sub-projects with different currencies varies with the budget reference rate. The rate at which the amount is converted depends on the conversion rate.

    • Quick start tests for PPM Standard Multicurrency

      Validate that PPM Standard Multicurrency still works after you make any configuration change such as apply an upgrade or develop an application. Copy and customize these quick start tests to pass when using your instance-specific data.

    • Upgrade existing projects on activating multicurrency plugin

      Execute the PM upgrade project currency for active projects and PM upgrade project currency for inactive projects scheduled jobs to upgrade your active and inactive projects, respectively, after you activate the multicurrency plugin. Select the scheduled jobs and run them on demand to upgrade your projects in project currency only when necessary.

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      Multicurrency in Project Management

      • Save as PDF Selected topic Topic & subtopics All topics in contents
      • Unsubscribe Log in to subscribe to topics and get notified when content changes.
      • Share this page

      Multicurrency in Project Management

      Use the multicurrency feature to execute a project or part of a project in a different geographic location that has a different local currency.

      The feature helps you to view the cost details of the project in a currency that is different from your functional currency. The values in the project's cost plans, benefit plans, and corresponding cost fields of the project form are also converted to a currency that you specify as project currency. Therefore, you don't need to convert the project currency to the functional currency of the project when the project is executed at a location that uses a currency different than your functional currency.

      Activation information

      Activate the PPM Standard Multicurrency (com.snc.ppm_multicurrency) plugin to enable the multicurrency features in Project Management. Activating the plugin enables the project currency view in project, cost plans, and benefit plans forms. With the project currency view, you can manage your project financials and cost plans in multiple project currencies.

      Note: Activating this plugin automatically activates PPM Standard (com.snc.financial_planning_pmo) plugin and therefore you get the option to switch between the default view and the project currency view.

      Project currency view

      In addition to the default view in the Project form, there is Project Currency view, which you can optionally enable to view the multicurrency fields. You can enable this view from the form context menu. The view appears only when you activate the PPM Standard Multicurrency (com.snc.ppm_multicurrency) plugin.

      Unlike the Default view, the Project Currency view contains multicurrency-related fields.

      You can designate a currency other than the functional currency as the processing Project Currency for a project. The Financials tab of the Project form has the Project currency field. You can select an active currency from the Currencies [fx_currency] table.

      Note:

      The Project currency field of a project becomes read-only field and locked down for updating the currency once you create a cost plan, cost plan breakdown, benefit plan, benefit plan breakdown, or an expense line for the project.

      Specify project currency in Demand

      In the Demand form, you can specify the project currency that you want to use for managing a project when you convert a demand to a project. The multicurrency feature is not available in Demand Management, therefore you can manage the demand only using your functional currency. For more information, see Create a demand.

      Projects in Project Workspace

      Track your projects in project currency in the Project Workspace. Create and monitor the cost plans and benefit plans for a project in project currency. For more information on project workspace, see Project workspace.

      To view the cost component in project currency at the grid level and at the breakdown level, see Create and manage cost plans and benefit plans for a project.

      Project status reports

      To view the planned and actual cost status of your projects in project currency, open the overview and cost sections of project status reports.

      • Enable project currency view in project-related forms

        Switch over to the project currency view to track the planned costs of a project in the selected project currency.

      • Cost rollup in project currency

        Cost rollup calculation in projects and sub-projects with different currencies varies with the budget reference rate. The rate at which the amount is converted depends on the conversion rate.

      • Quick start tests for PPM Standard Multicurrency

        Validate that PPM Standard Multicurrency still works after you make any configuration change such as apply an upgrade or develop an application. Copy and customize these quick start tests to pass when using your instance-specific data.

      • Upgrade existing projects on activating multicurrency plugin

        Execute the PM upgrade project currency for active projects and PM upgrade project currency for inactive projects scheduled jobs to upgrade your active and inactive projects, respectively, after you activate the multicurrency plugin. Select the scheduled jobs and run them on demand to upgrade your projects in project currency only when necessary.

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