Quick Agreement / Funding Projects (Oracle Projects Help)


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Quick Agreement / Funding Projects

Many companies have short-term projects, lasting one to ten days, which they want to bill. Oracle Projects provides an easy way to set up these short-term contract projects. You can create a project template that is associated with an agreement, funding, and baselined budgets. When you create a new project by copying the template, the agreement funding, and baselined budgets will also be copied to the new project.

The project template is funded with an agreement template; the revenue budget and funding may be baselined. When you copy a new project from the project template, you specify the customer in the Quick Entry options, and Oracle Projects copies the agreement, funding, and baselined budgets from the template to the project. You do not specify the amount of the budget in Quick Entry. Rather, you set up the project template with the appropriate revenue budget and funding amount. Thus, you may need to set up as many templates with appropriate funding amounts as needed for your projects. If the project is of short duration, you may elect to have a nominal agreement amount (such as $1.00) with a soft limit.

To create a quick agreement project:

1. Set up a Project Template with a Customer Quick Entry field and a customer defined in the project option.

2. Set up an Agreement Template with the same customer entered in the Customer option in the Project Template.

3. Within the Agreement Template, fund the Project Template at either the project or task level.

4. Create a revenue and/or cost budget for the Project Template. Baseline the budgets.

5. Copy the Project Template to a new project. The new project will be ready to bill as soon as it is created.

Quick Agreement / Funding Projects

To create a quick agreement project:

See Also