About Operational Measures and States

Oracle Joint Venture Management enables you to store and manage operational measures and states for your joint ventures.

Operational measures are used to record various amounts related to the maintenance and production of an operation. An operational state identifies the phase, activity, or other status of an operation. You can use this data for analysis of your joint ventures, as the basis for charging overhead to joint venture partners, or for allocating expenses to your joint ventures.

Here are some examples of operational measures that companies in the oil and gas industry use:

• Production units for a well; how much a well is producing

• Saltwater disposal

• Equipment usage hours

• Water consumption

For an example of operational states, again from the oil and gas industry, the managing partner of a joint venture with multiple wells might capture the state of each well. Possible states might include exploration, production, or shut-in.

Storing operational measures in Joint Venture Management enables you to:

• Create statistical journal entries for operational measures, which can be used for allocating expenses to your joint ventures.

• Store operational measures by joint venture or by a primary segment value in a joint venture.

  A primary segment value can be used to identify the accounts in which costs and revenue for a particular entity within a joint venture are managed. For example, a primary segment value could be used to capture transactions for a particular project, site, building, activity, or so on. By identifying a primary segment value in operational measures, you can store them in relation to the transactions for a particular entity in a joint venture.

• Search for and review operational measures captured for a joint venture or for a particular primary segment value in a joint venture.

• Sort on operational measure details, such as the date to locate the most recent recorded operational measures.

• Download operational measures to a spreadsheet, which gives you the flexibility to use the data in other ways, such as for analytical or forecasting purposes.

Storing operational states in Joint Venture Management enables you to:

• Store operational states by joint venture or by a primary segment value in a joint venture.

  As with operational measures, you can identify a primary segment value for each operational state that you add. This enables you to store operational states in relation to the transactions for a particular entity in a joint venture.

• Use a reported date to track the date when the joint venture changed to a particular state for tracking and auditing purposes. This date is also used to create statistical journal entries for operational measures if you choose to do so by a particular operational state.