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Oracle Project Accounting/Contracts Presentation

Integration Overview. Oracle Project Accounting/Contracts Presentation. O. Oracle. K. Contracts (legal abbreviation for) . E. Engineer to Order. What does OKE stand for?. OKE is an acronym for Oracle Project Contracts. OKE Project Scope.

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Oracle Project Accounting/Contracts Presentation

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  1. Integration Overview Oracle Project Accounting/ContractsPresentation

  2. O Oracle K Contracts (legal abbreviation for) E Engineer to Order What does OKE stand for? OKE is an acronym for Oracle Project Contracts

  3. OKE Project Scope • Defining, implementing, and training employees on standard processes and technology for integrated contract execution and management • Converting active contract data • Converting contract data related to active Construction projects from legacy system and Oracle Purchasing to OKE (8 Construction Projects) • Scanning those contracts and related documents and saving them to Documentum Processes: Technology: Business Document Management Contract Execution Requisition/ Purchase Order Project Closeout Contract Change Management Reporting and Analysis

  4. What is OKE? OKE is... • A repository for contract financials and reporting information • A structure for executing and managing contracts and their related documents (e.g. letters of intent, business documents, and change orders) • A tool to link to contracts and business documents in Documentum OKE is not... • A tool for contract creation--you cannot print out your final contract from OKE • Generating additional work • Intuitive--it will take some practice to get used to its functionality

  5. Benefits How will you benefit from OKE? • Consistent contract processes and technology • Automated reminders to facilitate contract compliance • Single data entry point for contract information • One version of the truth • Real-time access to comprehensive contract data in a single contract repository • Enhanced reporting capabilities • Compliance with Sarbanes-Oxley Act • Intensive use of Oracle Workflow for approval authorizations

  6. Background Systems view

  7. High-level Execution/Management Process • Contract Execution • Enter letter of intent and contract information in OKE • Utilize approval workflows • Access contract documents via Documentum Business Document Management • Business Document Management • Send and receive business documents • Enter business document information in OKE • Access business documents in Documentum Contract Execution Requisition/ Purchase Order Project Closeout • Requisition/Purchase Order • Initiate requisitions via OKE • Import and autocreate requisitions into POs in Oracle Purchasing Change Management • Change Management • Enter trends, internal contract adjustments, and change orders Reporting and Analysis • Project Closeout • Closing contracts and the project • Reporting and Analysis • Inquire on contract data • Run contract reports

  8. Integration Points of OKE with Other Systems Documentum Document Images Oracle Project Contracts Trends Requisitions Commitments Oracle Purchasing Oracle Project Accounting Oracle Accounts Payable Actuals

  9. Coding happens at the lowest level task only Task 1 Task 2 Task 1.1 Task 1.2 Task 2.1 Task 2.2 What is a Project? • A Project is a body of work to which costs are charged and tracked • A Project can be made up of one or many tasks, which identify the specific breakdown of the project work • The hierarchy of tasks is called the Work Breakdown Structure (WBS) Project

  10. What is a Project Template? • A Project Template is a pre-defined WBS structure that can be copied and modified to create new projects • Mirant has various groups of templates/projects

  11. Template Example - Construction Template Construction Tasks 00 Indirect Accounts 01 Sitework & Demolition 02 Concrete Sub- Tasks 000 Home Office Administrative Charges 010 Site Prep, Grading & Improvement 020 Powerhouse Concrete Lowest Level Sub-Tasks for 020 0200000 Boilerhouse HRSG Slabs 0203000 Turbine / Generator Equipment Foundation 0204000 Misc. Powerhouse Equipment Foundations

  12. What is a Parent Project? • Organization of multiple sub-projects under a primary project • Allows inquiry across sub-projects Parent (Master) Sub- Projects BusinessDev Finance Ops & Maint Equipment Construction Tasks Business Development Tasks Finance Tasks Operations & Maintenance Tasks Equipment Tasks Construction Tasks (Cost Codes)

  13. Changes in Project Accounting Example - Contract to PO Mirant agrees to buy engineered equipment from a vendor for $35M. Oracle Project Accounting Oracle Project Contracts Oracle Purchasing Contract Deliverables Tracking System Requisition PO Commitments Project Status Inquiry (PSI) in Project Accounting Board Approved Project Budget Forecast to Complete Forecast at Completion Project Budget Commitments Actuals Variance BD Construction Finance O&M Equipment $ X $ X $ X $ X $40M $ X $ X $ X $ X $35M $ X $ X $ X $ X $0M $ X $ X $ X $ X $0M $ X $ X $ X $ X $35M $ X $ X $ X $ X $5M Parent $40M $35M $0M $0M $35M $5M (Updated Nightly) (Updated Weekly) (Updated Nightly)

  14. Changes in Project Accounting Example - Invoice Vendor sends Mirant a progress billing for $10M. Oracle Purchasing Oracle Payables Oracle Project Accounting PO Invoice Actuals Project Status Inquiry (PSI) in Project Accounting Board Approved Project Budget Forecast to Complete Forecast at Completion Project Budget Commitments Actuals Variance BD Construction Finance O&M Equipment $ X $ X $ X $ X $40M $ X $ X $ X $ X $25M $ X $ X $ X $ X $10M $ X $ X $ X $ X $0M $ X $ X $ X $ X $35M $ X $ X $ X $ X $5M Parent $40M $25M $10M $0M $35M $5M (Updated Nightly) (Updated Weekly) (Updated Nightly)

  15. Changes in Project Accounting Example - Trend Mirant realizes the equipment may cost $40M instead of $35M. Oracle Project Contracts Oracle Project Accounting Trend Deliverables Tracking System Forecast to Complete Project Status Inquiry (PSI) in Project Accounting Board Approved Project Budget Forecast to Complete Forecast at Completion Project Budget Commitments Actuals Variance BD Construction Finance O&M Equipment $ X $ X $ X $ X $40M $ X $ X $ X $ X $25M $ X $ X $ X $ X $10M $ X $ X $ X $ X $5M $ X $ X $ X $ X $40M $ X $ X $ X $ X $0M Parent $40M $25M $10M $5M $40M $0M (Updated Nightly) (Updated Weekly) (Updated Nightly)

  16. Changes in Project Accounting Example - Change Order Mirant and Vendor agree the equipment will cost $39M. Oracle Purchasing Oracle Project Accounting Oracle Project Contracts Trend Change Order Deliverables Tracking System PO Commitments Project Status Inquiry (PSI) in Project Accounting Board Approved Project Budget Forecast to Complete Forecast at Completion Project Budget Commitments Actuals Variance BD Construction Finance O&M Equipment $ X $ X $ X $ X $40M $ X $ X $ X $ X $29M $ X $ X $ X $ X $10M $ X $ X $ X $ X $0M $ X $ X $ X $ X $39M $ X $ X $ X $ X $1M Parent $40M $29M $10M $0M $39M $1M (Updated Nightly) (Updated Weekly) (Updated Nightly)

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