Our second edition of the “What’s New in EPM” blog series will review the new Hyperion Project Financial Planning application.  Following other special-purpose planning applications such as Workforce and Capital Asset planning, Project Financial Planning allows managers the ability to identify expenses and revenue, plan new projects, and track results.  Bridging the gap between Project Management applications and financial planning and budgeting processes, Project Financial Planning will help managers evaluate projects, manage funding and approve projects. Furthermore, to help complete the project financial planning cycle, Project Financial Planning provides the ability to monitor and report actuals which exposes impacts of projects and project portfolios ultimately leading to better information for the next forecast.

Some key takeaways of Project Financial Planning are:

  • It unifies the planning process by connecting project plans to the organizations
    overall financial plans and forecasts
  • It ensures company alignment by having an approval process that is aligned to the financial plans and forecasts
  • It supports all industries and is applicable to most large and medium sized
    businesses for IT and HR projects
  • It supports project financial requirements from summarized to detailed levels for
    capital, contract and indirect projects

Functionally, Project Financial Planning provides pre-defined members, forms, business rules, menus, task lists, smart lists, validation rules and project planning plan types.  It is integrated with Human and Capital Resource Management and delivers horizontal and vertical values.

Additionally, Project Financial Planning uses a template for importing metadata and data to support planning for indirect, capital and contract projects, as well as perform expense planning at detail level or account level for items such as labor, materials, and equipment.  Finance Managers can allocate workforce resources and capital assets to projects easily

and calculate driver-based overheads for projects.  Different types of revenue planning/revenue recognition can be completed based on the type of contract project, including time and materials, fixed price and cost plus.

Project Financial Planning in EPM allows organizations to view the impacts on financial statements from a project level or an entity level, including profit and loss,
cash flow, and key performance indicators (KPIs).  Furthermore, the application helps managers rank and approve projects based on a project scores using financial measures
and subjective measures such as net present value or NPV, return on investment
or ROI, payback, lifetime investment, risk assessment, strategic assessment, business assessment, and organization mission.  Additional benefits include:

  • Perform planning for intercompany projects and reconcile them
  • Request funding
  • Track the project approval flow
  • Use out‐of‐box reports
  • Provides a sample project for information technology

Our first two blogs in our series focused on the enhanced Planning capabilities of
EPM  Next up, we are going to dive into the new closed-loop solutions for financial close and disclosure management within the Hyperion Financial Close Suite.

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