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Oracle Primavera P6 enables you to define your organization’s global financial periods in the Financial Periods dialog box.
Customized financial periods provide more accurate display and reporting of actual units and costs. Rather than spreading costs evenly throughout the length of a project, users can view how actual costs were incurred by customized financial period.
If your organization always updates the schedule according to the same time interval (i.e., every week, every month, every quarter, etc.), you can quickly create a batch of financial periods.
If the schedule may be updated irregularly, you can create a single financial period at any time.
When financial periods exist in the Financial Period dictionary, users can store period performance for any defined period.
When you store period performance, actual units and costs are stored as past period actuals. The past period actual values can be edited for any financial period in columns of the Activity Table and Activity Details, Resources tab.
Past period actual spreads per financial period can be viewed in the Activity Usage Spreadsheet and Resource Usage Spreadsheet, and past period actual data can be displayed in profiles, time-distributed reports, and the Tracking view.
- To ensure that data is displayed correctly in financial period timescale intervals in Oracle Primavera P6, activity and resource data must be summarized by financial period. To summarize project data by financial period, choose Admin, Preferences, then select the Options tab. In the ‘Select summarization periods’ section, choose the ‘By financial period’ option; for each project, data will be stored in financial period intervals the next time you summarize the project
Store Period Performance
Using the Store Period Performance feature, you can track actual units and costs to date.
if you increase the actual this period by 50, Oracle Primavera P6 increases the Actual to Date by the same amount. At the end of each financial period, reset the Actual This Period values of all activities and assignments to zero by choosing Tools, Store Period Performance. Resetting the Actual This Period values does not affect Actual to Date values; rather, it prepares you to begin tracking new use for the current period.
Storing period performance records actuals for the selected financial period along with earned value and planned value, so you can track previous periods and compare current and future trends.
If past period data changes after you store period performance, you can edit the data in financial period columns of the Activity Table, Resource Assignments window, and the Resources tab of Activity Details.
Your projects may be scheduled to update every two weeks, monthly, or even quarterly.
To track actual costs and progress recorded, update your schedule at the times established in the Financial Periods dictionary, then store period performance at the end of the update period and before the start of the next schedule update.
When Oracle Primavera p6 is connected to a P6 EPPM database, you can only store period performance if financial periods have been defined in P6.
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Credit: Oracle Primavera Help