Understanding the Operational Status for Joint Ventures

You can specify the operational status for a joint venture in the Joint Venture Operational Status program (P09J70). To update the operational status of a joint venture, you can access the Revise Joint Venture Operational Status form, either from the Work with Joint Ventures form (Row menu) or from the Edit Joint Venture form (Form menu) using the Joint Venture Master program (P09J30).

On the Revise Joint Venture Operational Status form, you can see the joint venture name, effective date, and the operational status changes that the joint venture has gone through. You can use the effective date field in the header section as a filter to search for the effective dates specified for an operational status. The system displays the record with the latest status at the top of the grid. The system stores the joint venture operational status in the Joint Venture Operational Status table (F09J70).

The operational status of the joint venture is different from the status of the joint venture stored in the Joint Venture Master table (F09J30). The operational status is used while calculating overhead using the Fixed Amount, Fixed Amount with Escalations, and Day Rate overhead methods.