rego university: financial management, ca ppm (ca clarity ppm)
TRANSCRIPT
![Page 1: Rego University: Financial Management, CA PPM (CA Clarity PPM)](https://reader033.vdocument.in/reader033/viewer/2022052301/55a605b91a28abed248b45ef/html5/thumbnails/1.jpg)
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Identifying and Leveraging the Right Tools
Financial Management, CA PPM (CA Clarity PPM)
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● CA PPM Financial Outputs○ OOB Portlets /RegoXChange Portlets
● Financial Components○ Financial Setup
○ Resources
○ Investments
○ Tasks (yes tasks)
● YOU Design the Financial Architecture
● Cost Plans/Budgets
● An Approach to Annual Forecast/Budgeting
● Open Forum
Agenda
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Financial Output
Project Dashboard-PMO Accelerator-PMO Project Status Layout
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Financial OutputProject Cost Plan/Budget
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Financial Output
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Financial Output
Posted Transaction Review Portlet
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Financial Output
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Financial Output
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Financial Output
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RegoXchange Financial Outputs
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RegoXchange Financial Outputs
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Financial Implementation Best Practices● Keep Things as Simple as Possible
● Spend Time on the Full Architecture
● CA PPM is Cash Based – No concept of P&L / Depreciation
● CA PPM is NOT the Company Financial System of Record; CA PPM will never match general ledger 100%
● CA PPM is a MANAGEMENT tool – enough information to make decisions
● Start with required outputs, how do you need to classify financial data; involve finance team
"A clever person solves a problem. A wise person avoids it"- Albert Einstein
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● Entities / Classes
○ Categorization of Costs
○ Attributes to Determine Rates
● Financials Plans
○ Forecasting
○ Actuals
● Task & Resource Level Costing
○ Earned Value
● Project / Departmental Chargebacks
○ Subscription
○ Debit Rules
CA PPM Financial Components
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Entities
● Financial OBS
○ Department (Object and OBS)
○ Location (Object and OBS) – Linked to a Department
● Defaults
○ Default Financial Plans
● Fiscal Periods
○ Used within datamart jobs
○ Used on Financial Plans-Cost Plans and Budgets
● Currencies
○ Home Currency
○ Billing Currency
○ Exchange Rates
Best Practice• One Entity if Possible
• Only use Department and Location if needed for rates, otherwise – just one of each
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Classifications
● Resource Classes○ Internal / External○ Specialized Resources
● Company Classes○ Default to Corp○ Lines of Business
● Work In Process (WIP) Classes○ Default
● Investment Classes○ Default
● Transaction Classes○ Labor○ Equipment○ Material○ Expense
Best Practice• Default where possible
• Align Transaction Class to Financial Reporting Needs.
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Other Financial Attributes● Input Type Code on Resource Record (required for processing)
○ Billable
○ Non-Billable
● Cost Type on Project Object
○ Capital
○ Operating
● Charge Code on Investments (required for processing)
○ Capital
○ Expense
● Roles on Resource Record
○ Available to Rate Matrix
Best Practice• Determine Charge Code usage
vs. Cost Type
• Roles – Understand difference between Primary and Assignment Roles
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Rate Matrix
● Define Columns to Derive Rates
○ Exact Rates
○ Aggregate Rates
● Non-Labor
○ $1 Defaults
● End Dating
Best Practice• End Dating-Minimum of current
year +1
• Exact Rates for Contractors/Aggregate Rates for Internal Resources
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Resources & Roles
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Resource Timesheets
Resources have the ability to modify financial classifications on their timesheet
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Investments
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Tasks• Tasks Must Have Charge Code to Process Financially:
• Charge Code• Project Level
• Summary Level
• Task
• Cost Type: Used for Portfolio Alignment in 13.3• Project Level
• Summary Level
• Task
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Design the Financial Architecture
Scenario #1
The Bucket List Company wants to capture internal labor costs and SOW
expense costs on projects. They are only tracking time on strategic
projects. Every once in a while an hourly contractor will book time to
strategic projects and they want to capture that cost too.
Scenario #2
The EyeBill All Company must account for all project costs for internal
labor, external labor and Capital Purchases. They require tracking exact
costs to the project (to the penny).
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Scenario #3
The Department of Financial Oversight needs to implement CA PPM
financials to capture internal labor costs by sub-department. They also
need to capture the project costs that are sponsored by each sub-
department. Resources can only work on projects in their own sub-
department. Aggregate Rates for resources are determined on a
department by department basis every year.
Scenario #4
My Specialty store needs to track the cost of internal labor, external
labor and Services Transaction for SOW contracts. One group of external
labor resources, filling the Architect role has a rate that is double the
other external Architects. The total cost of this Special Architect class
needs to be reported separately on each project.
Design the Financial Architecture
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Financial Plans● Cost Plans:
○ Three ways to create a Cost Plan
• Manual
• New From Investment Team
• New from Task Assignments
○ Choose the Classes to display in your Cost Plan.
○ The Cost Plan populates the Planned Costs field at the project level
○ Actual costs will pull into the cost plan for variance comparison by time period.
Best Practice• Set Cost Plan Update
Policy, how cost plans are to be created.
• Default Cost Plans to show key financial metrics
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Financial Plans
● Budget Plans:
○ A cost plan becomes a budget plan when the cost plan of record is submitted for approval and approved
○ Same structure and view as a cost plan – a saved/static version.
● Benefit Plans:
○ Once you create a benefit plan – CA PPM will make the planned cost fields read only.
○ The Benefit Plan populates Planned Benefit at the project level.
○ If the Benefit Plan is attached to the Budget, it populates Budgeted Benefit at the project level.
○ Realized Benefits-manual entry
Best Practice• Align Budget and Baseline
processes
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Financial Jobs Summary● Post Timesheets● Post Transactions to Financial
○ Review Invalids (fix)○ Post Transactions to Financial
● Post to WIP● Import Financial Actuals
● Other○ Slicing○ Investment Allocation○ Update Hierarchy Data
Best Practice• Be a part of
RegoXchange to get our Post to WIP Job.
• Communicate Posting Schedule
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Actual Costs - Timesheets
● Base Setup
○ Determine Posting Cadence
○ Adjustment Postings?
● Approval Policy
○ Auto-approval?
● Timesheet Adjustment Policy
○ Number of Open Time Periods Best PracticeWhatever your posting and processing cadence is, make sure it is well communicated. Postings modify project dates and financials, therefore important to have a transparent and predictable schedule
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Actual Costs – Manual Transactions● In the create entry section on the application side, you must first create a voucher
○ Vouchers can be “Expense” types or “Other”
● Within the voucher, you can create multiple transactions
● Transactions must have a date, investment, task, charge code, resource id, transaction class, input type code, and the various costs and amounts
● Run Post Transactions to Financial
● Run the Post to WIP
● Run import financial actuals job
○ Afterwards, check the admin side for invalid transactions
○ If there are some, fix the needed fields and repost
● Run the investment allocation job (adjust the investment list fields)
Best PracticeHave Rego build a better interface for entering these costs, or have us build application integration from your financial system of record.
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Cost Planning & Budgeting
● Defining the objects to use to forecast financials and resources● Strategic Project Alignment● Non-Strategic Work Definition
Best PracticeAnnual Forecast and Budgeting should be incorporated into the annual schedule of Corporate/departmental activities.
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Annual Budgeting-Strategic Projects
Submit Idea Approve?
Rejected Idea
Convert to Project
Assign Appropriate Template
Build Cost Plan from
Assignments
Revise Resource Estimates
Approve?
YES
NO
NO
Create IdeaCost Plan
Benefit Plan
Add Project to Portfolio / Program
Priorit ize & Sequence Project List
Review Capacity /
Revise Resources
Approve?Launch Project
YES
YES
Project Hold or Rejected
NO
BaselineBudget
Approval
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Annual Budgeting – Strategic Projects
7/1/2014 12/31/201410/1/2014
10/1/2014Evaluate Projects
Approve Projects
12/31/2014Annual Portfolio
Complete
7/1/2014Open Submission for
Ideas
Evaluate New Project Ideas
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Ideas
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Annual Budgeting-Non-Strategic Projects
Allocate Resources
Revise Project
Build Cost Plan from
AssignmentsApprove?YES
NO
Create Support Project
Add Project to Portfolio / Program
Priorit ize & Sequence Project List
Review Capacity /
Revise Resources
Approve?Launch Project
YES
YES
Project Hold or Rejected
NO
BaselineBudget
Approval
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Expected Resource DistributionPrior to Annual Budgeting Process
Strategic 70%
Support 15%
Admin 10%
OOO 5%
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Actual Resource Distribution After Annual Budgeting Process
Strategic 40%
Support 37%
Admin 15%
OOO 8%
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Open Forum-Collaborate & Motivate
• Financial Setup Experiences• Innovative Class Definitions/Assignments• Whatever you do…DON’T
• Financial Policy /Standards• Posting Cadence• Cost Plans/Budget Approval• Baselines• Earned Value
• Integration of Financial or HR Systems• Annual Budgeting Cycle
• Strategic Planning• Non-Strategic Planning
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Questions
Contact US888.813.0444
Email [email protected]
Web Sitewww.regoconsulting.com
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