Project Creation Includes 3 Steps:-
- Creation of Project
- Creation of Task Planning
- Creation of Cost Structure
Creation of Project
Steps for the Creation of Project:-
- Navigate to Projects → Project management.
- Click on the ‘+’ New button from the top right of the screen.
- Enter data in the required field such as sale site, operating site, Project code and
- Click on the template checkbox so that the project that is being created will be saved and used as a standard template for further project creation that would have the same Task Planning and Cost Structure. If you do not wish it to be used as the standard template simply keep the box unchecked.
- Enter the start date and end date, you can tag the functional currency for the project in which you can see the Project financial overview, you can tag the person working on the Project in the Person responsible A customer can be also linked in the customer field to whom the Project is going to delivered.
- Once the data is been entered in the required fields click on “√” for Project
Creation of Task Planning
Steps for the Task Planning Creation:-
- Open the project that is created.
- Click on the Task Planning button from the top right corner.
- Below screen will get open.
- To create a new task, click on New button and enter details into the field including Task category, Task code, description, Start and end date. Then click on the save button to create the task.
- Under the Activity tab Project Engineer can mention the list of activates that has to be performed under this task and assign a respective employee who will work on this specific task. The Project engineer can define the start and end date, planned load (Number of hours required for completion) for the activity entered.
- Below screenshot displays the task and sub-tasks along with their Budget-codes created for the project.
- Kindly note that the budgets will be created at the sub-task level which has the activity and products Such a definition of budget will ensure the activity wise planning and recordings of actuals.
Creation of Cost Structure
Before creation of Cost Structure, Cost Type needs to be created. Cost types are the types of cost that are used for bifurcating the different types of cost that are associated with the project such as raw materials, labor costs and indirect costs. Cost types are assigned to every line in a project budget structure for recording expenses against a particular project.
Steps for Cost Type Creation:-
- Navigate to Common data → Projects → Cost
- Click on ‘+’ New button and enter data in the fields like Site, Cost group, check the cost type check boxes and enter the rate and click on tick button to create.
- Once the cost type is created move ahead to create the Cost Structure.
Steps to Create Cost Structure:-
- Click on the Cost Structure button from the Project Screen.
- From the Task Planning screen by checking the budget creation checkbox creates a budget code for the respective sub-task by default.
- Depending on the type of activity listed in the activity section in the Task Planning by project Engineer the budget can be auto generated by clicking on the Cost Structure of the specific task and clicking on 3 dots in the Status column and clicking on generation of budget lines.
- As the cost type will be already linked to the employee associated with the task, a budget for the specific task can be created.
- A budget for Products has to be added manually by selecting the cost type of material and enter the quantity and unit price. (Refer below screenshot)
