Project Financial Progress

Capture progress to track the current status of tasks and measure the amount of work remaining. Capture progress centrally in Oracle Project Control, or use Microsoft Project to capture and then import progress into Project Control.

Following is a brief description of capturing progress and calculating values, reviewing earned value metrics, publishing progress, and using external scheduling applications for progress entry.

Calculating ETC and EAC Values

Estimate-to-complete (ETC) and estimate-at-completion (EAC) values are derived based on the ETC method assigned to the task or task assignment. Available options are Manual Entry and Remaining Plan. If you select the Remaining Plan option, then ETC quantity for the task assignment is calculated as EAC quantity minus actual quantity. EAC quantity is set equal to the current planned quantity for the project plan when you capture progress. ETC quantity is used to determine ETC Effort and to calculate ETC cost.

EAC amounts are calculated by adding ETC amounts to actual amounts. After calculation, both ETC and EAC values are rolled up the task hierarchy.

Note: While creating a project forecast version with unplanned resources, the ETC amount is always zero.

Calculating Physical Percent Complete

Physical percent complete is calculated at the lowest-task level based on the physical percent complete calculation method. Available calculation methods are Cost, Effort, and Manual Entry. If you select either Cost or Effort, then the application derives physical percent complete from the ratio of actual cost or effort consumed to date against the latest EAC amounts. You can update the calculated value.

Use the Manual Entry calculation method to manually enter physical percent complete for all tasks or when importing progress information from external scheduling applications.

Calculating Earned Value Metrics

After capturing progress, review earned value metrics at the project and task level to determine whether the project is on track.

Earned value cost and effort are calculated at the lowest-task level by multiplying physical percent complete and baseline planned cost or effort. Earned value rolls up the task hierarchy and is then used to determine rolled-up physical percent complete at the level of summary tasks and the project.

The following table describes some of the other metrics calculated at the task and project levels.

Metrics	Calculation
Cost Variance	Earned Value Cost - Actual Cost
Cost Performance Index	Earned Value Cost / Actual Cost
Schedule Variance	Earned Value Cost - Baseline Planned Cost to Progress As-of Date Note: Baseline Planned Cost to Progress As-of Date = (Baseline Planned Cost / Duration in Days based on Baseline Dates) * Number of Days to Progress As-of Date based on Baseline Start Date
Schedule Performance Index	Earned Value Cost / Baseline Planned Cost to Progress As-of Date
To Complete Performance Index	(Baseline Planned Cost - Earned Value) / (Baseline Planned Cost - Actual Cost)

Publishing Progress

Publish progress to finalize progress collection and make it available for use in project planning, forecasting, revenue generation, and invoicing.

While publishing progress, you can simultaneously generate and approve a forecast version. You can also update planned quantity with EAC quantity. In this case, the application copies the EAC quantity to planned quantity and calculates related values. Revised values roll up the task hierarchy and are spread to periods as appropriate.

Depending on how contract revenue and invoices are generated and processed, you can use the latest published progress when calculating revenue and invoice amounts based on percent complete.

Every time you publish progress, historical information is recorded for the project. You can view historical progress at the project, task, or task assignment level.

Using External Scheduling Applications

Use Microsoft Project Integration to capture progress in an external scheduling application before sending it to Project Control.

Integrating with Microsoft Project enables you to import actual amounts into Microsoft Project, enter progress manually, and then export the resulting progress to Project Control.