Enhanced Revenue Management for Financial Project Plans

Adjust planned revenue and manage unplanned resources to gain a more comprehensive financial picture. Additionally, eliminate the dependency on manual upgrade steps that require scheduled processes to update financial project plans when users enable revenue support through configuration updates for existing projects.

To ensure seamless integration, we have extended the functionality to support alternative data ingestion methods, such as file-based data imports and REST API enhancements.

This release expands on the revenue planning capabilities for the financial project plan, that were introduced in the 25A Revenue Planning in the Financial Project Plan.

The resource adjustment action, that allows you to apply a percentage change to the cost amounts, has now been extended to include revenue.

This update also eliminates the need for manual upgrades and automates the process of updating financial project plans. For example, when you enable revenue the system automatically computes planned revenue and refreshes the plan with the latest revenue actuals, removing the need to manually run separate scheduled processes.  In addition, use the enhanced Financial Project Plans REST APIs and Import Financial Project Plans file-based data import for managing revenue in the financial project plans.

The business benefits are:

  • Eliminates the need to manually refresh financial project plans after the 'Enable revenue for project plan' option is selected, thus results in faster and more reliable configuration updates.
  • Enables real-time financial accuracy by allowing adjustments to planned revenue and management of unplanned resources.
  • Improve productivity by managing revenue in the financial project plans in bulk using the file-based data import template.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

  • Enabling the revenue planning option in the project plan type settings for a project template doesn’t automatically calculate revenue amounts. You must explicitly perform the Refresh Rates action on the Manage Financial Project Plan page to update these amounts.
  • Revenue amounts aren’t computed on a project template when revenue is based on the contract classification method, since a template can’t be associated with a contract.
  • For a non-rate-based resource that’s converted from unplanned to planned, if only revenue actuals are available, the system stamps the actual revenue amount as the cost. You can then edit both the cost and revenue amounts.

Key Resources

Access Requirements

No new access requirements.