Asset Retirement Using a Work Order Associated with a Project Costing-managed Project

An organization normally creates a project in PeopleSoft Project Costing that involves the retirement of large-scale assets. Usually these projects can last more than a few days, involve multiple assets, and entail a complex effort that must be actively managed. Project managers can create work orders from PeopleSoft Project Costing that authorize work order tasks that involve the demolition and removal of assets.

When a work order is created from a Project Costing-managed project to retire an asset, the user selects the asset action Retire for a work order task on the Requirements page or the Schedules page of the work order, selects the Retirement radio button and the retirement filter directly in PeopleSoft Project Costing. The work order does not drive the cost of the transaction for this type of retirement. Instead the costs are sent directly to PeopleSoft Project Costing without closing the work order. PeopleSoft Project Costing integration rules determine when to send the cost of retirement from PeopleSoft Project Costing to PeopleSoft Asset Management.