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New Oracle Project Analytics Module Reduces Complexity, Controls Risks
The newly launched Oracle Project Analytics tames the complexities of project accounting and delivers consistent, role-based analysis so project executives, managers, and accountants can make timely decisions and, when necessary, take prompt corrective action.
A Clear and Present Need
According to Project Management Association estimates, about one-fifth of the world’s annual GDP—or approximately US$12 trillion—is spent on projects. Yet projects are perennially the most difficult activities to control, especially in terms of costs and accounting.
“The complexity of modern projects, with hundreds or even thousands of tasks, dozens of vendors, and multiple milestones and schedules, can be overwhelming,” says Fred Richards, Oracle senior director of Business Intelligence Applications. “And the unique requirements for accounting for costs and revenue against a project make the job that much more complex.”
Breaking Down the Wall Between Finance and Project Management
To meet this challenge, Oracle Project Analytics brings together analysis of comprehensive project-based data, including forecasting, budgets, costs, revenues, billing, and profitability.
Just as important, it provides out-of-the-box, role-based dashboards that enable project managers, executives, and accountants to monitor projects and control the risks that lead to budget and schedule overruns.
And because of tight integration with other Oracle Business Intelligence Applications, Oracle Project Analytics also delivers cross-functional analysis—including project-based analyses of accounts receivable and payable, invoice aging analysis, and status of procurement transactions by project.
Removing the Wall Between Finance and Project Management
To meet this challenge, Oracle Project Analytics gathers four key elements into a single solution:
- A prebuilt data warehouse that spans the project lifecycle and that can summarize, aggregate, and group data by key dimensions
- A prebuilt ETL that can pull data from source systems like Oracle E-Business Suite Projects and PeopleSoft Projects as well as open adapters for legacy and third-party project systems
- A rich metadata layer that describes the hundreds of metrics and dozens of dimensions need to understand and analyze projects
- A library of hundreds of prebuilt reports and dashboards, each tied to specific roles for project-based companies
Learn more about Oracle Project Analytics.
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