Change Order Automation for Financial Project Plan Amount Adjustments

Perform a detailed impact assessment of planned amounts on a financial project plan and automatically update the plan when the change is approved. For example, record a change by adding efforts and amounts for specific task assignments and view the overall impact on the project plan. Upon stakeholder approval, implement these changes to the financial project plan automatically. Automation improves accuracy during assessment and implements the changes without any further involvement from the change order owner.

To create a financial project plan impact assessment, select the Project Plan impact area in the Add Impact dialog box and then select the task and resource for which impacts are to be assessed. For example, if there's a scope increase that requires an additional 200 hours for a consultant resource, enter 200 as the quantity. If there's a scope decrease, enter -200. For rate-based resources such as a consultant, the amounts are automatically calculated using the rate settings defined in the financial project plan settings. Optionally, override the amounts by entering both the quantity and cost or revenue amounts.

Screenshot of add project plan impact details page

Add project plan impact details page

After the change order is approved and moved to the implementation stage, select the Implement and Mark Complete action to include the financial amount impacts. This action will add the financial impacts to the planned quantity and amounts of the financial project plan. Note that these amounts are editable from the Manage Financial Project Plan page.

Implement and mark complete action to include changes in financial project plan

Implement and mark complete action to include changes in the financial project plan

Business analysts can now leverage Oracle Transactional Business Intelligence (OTBI) to generate detailed reports on project plan impacts. This enables users to analyze key financial metrics, such as the cumulative cost and revenue impact of pending change orders, broken down by tasks or resources within a project. With enhanced visibility, decision-makers can proactively assess financial risks and opportunities associated with project changes.
Additionally, users can create, view, update, or delete project plan impact details using the Change Impact Details REST resource, providing greater flexibility and automation in your existing change management integration solutions.

Business benefits of using this feature are:

  • Improvement in project profitability and cost control by preventing margin erosion and project disruptions. Effective change management ensures every modification is assessed for its impact, keeping the project plan on track and optimized.
  • Reduction in administrative overhead in keeping project plans up to date by automatically including change order impacts, allowing teams to focus on high-value activities.

Steps to Enable

Use the Opt In UI to enable this feature. For instructions, refer to the Optional Uptake of New Features section of this document.

Offering: Project Financial Management  No Longer Optional From: Update 26B

The feature opt-in choice is set to Yes by default, making it ready for immediate use. If additional time is needed before activating this feature, you have the option to set the Opt-in choice to No. This feature will be always enabled from update 26B.

Tips And Considerations

  • As a best practice, create a baseline of the project plan after implementing a change order that impacts it. This ensures better progress tracking and also allows you to automatically generate a new version of the budget.

Key Resources

Access Requirements

To use this feature you need these privileges:

  • Manage Project Changes (PJE_MANAGE_PROJECT_CHANGE_PRIV) to create a change order, perform impact assessment, review, approve, and implement a change order.
  • Manage Project Task Structure (PJF_MANAGE_PROJECT_TASK_STRUCTURE_DATA) to automatically implement a change order with project plan impacts.