Financial Period & Store Period Performance in Oracle Primavera P6 | www.tutomaash.com

hello and welcome this is Nikhil Raj goes director for two damash calm in this session I'm going to demonstrate you how to use financial period and store period performance in Primavera p6 so what is a financial period financial periods are predefined time periods you can apply to financial or scheduling data throughout the application to consistently measure and compare that data customized financial periods provide more accurate displayed and reporting of actual cost and units according to the time increments recognized by your finance and accounting staff and users can focus on a financial period and pinpoint how actual cost were incurred during that particular time and what is the store period performance using the store video performance feature you can track actual to date units and Coast storing period performance records actual for the selected financial period along with the own value and plan value so that you can track previous periods and compare current and future trends users can store period performance for any predefined period in the financial period dictionary now we will do this with an example look at this scenario here there is an activity war reinforcement that is of 28 days and according to the plan we have budgeted 105 levels to week 1 and 105 labels to week 2 3 & 4 and $10,500 is the course that will occur in every week so this this what we have planned we have planned a budgeted units of 420 label units and what happened in the actual after one week into the project we have engaged 150 Labour's instead of 105 Labour's so this is what happened in the site 150 Labour's is engaged and second week we engaged 90 Labour third we engaged one two labor fourth week we engaged 110 labor that makes total actual labor units as 470 units now here comes the scenario what if you're blind or a project manager wants to know how much money we have spent to this project every week how much labor is engaged how much cost is engaging every week to deliver this requirement we need to create financial periods you can create a financial period like week one two three and four of periods day one to seven as week one day 8 to 14 as week to day 15 to 21 as week three and day 22 to 28 as week four so this is how we create financial periods and store median performance means when you update the project in every week let's say when you update your project of the first wing these are the actual data 150 labor and the ghost is $15,000 these to value you have to store as period performance so what program will do program will keep this value under week 1 of financial period so week 1 is already completed in week 2 we engaged in 90 labor at $9,000 we have spent this is the actual data again you can do this door period performance so program will say this particular data of b2 and in week 3 we engaged 120 labor and we spent $12,000 so again you have to store period performance in Pronovias oprah memorable stone entire data of week 3 when we do store period performance problem will stow this data under financial periods week 1 2 3 & 4 so while using store period performance it is easy to get a data that stating what is the actual labor and cost in week 1 2 3 & 4 so if clients ask you how much money did you spend up a project every week you can create a financial periods and you can store period performance in F week or day or month so we will see how to do this same example in Primavera look at this project sample project store period performance this is a dummy project which I created to just demonstrate this particular example so this project will start on 1st March 2016 and the calendar which it follows is a two hour working for seven days right-click a couple next you can create an activity so the activity name is wall reinforcement and the duration is 28 days which will start on 1st March 2016 - 28 March 2016 right next we will assign a resource to this activity so here is the label that follows the same calendar labor units after that you can close it next we need to assign how much labor unions is engaged to this particular activity look at the example in the example for 20 units of labor is engaged into this project so you can change the value under budgeted units for 20 so for 20 units of Labor working for 28 days makes $42,000 as the project budget right after this you need to create a financial period you create financial period you can go to admin click on financial periods that I do ways to create financial periods financial period in our project as for the example is week one that starts from day 1 to 7 we tube 8 to 14 week 3:15 to 21 and rege for 22 to 28 to create this financial period you can simply press add and you just our date March 1 Jew March 7 so this is one period you can press add second period is 8 March 2:40 much can see 8 to 14 add third is 15 to 21 15 to 21 and 22 to 28 22 to 28 and again close it four periods has been created so this is how you create periods manually if we want to bring videos automatically you can just go to this option give the start date end date and the recurrence as week month or year and you can say period ends on Saturday Sunday or whatever then you can click batch create so that program will create batches automatically after creating this you can rename it if you want for example week 1 week 2 week 3 and week 4 right so I have created for financial videos right we 1 2 3 & 4 after that you can close it after creating financial periods you can go to give it user preferences go to application under column 2 there is an option select financial periods to view in columns click here select week 1 to week 4 right and you can close it now we can come here right click go to columns now you can see the financial periods will be displayed as columns you can add actual labor cost labor units in week 1 week 2 actual labor host and units we three actual labor cost and unions and week for actual labor cost and units if you want you can add own value course and Planck Valley host as well after doing this if you can press ok and we can see week 1 2 3 & 4 labor cost can units is displayed next you can schedule the project also set a baseline project maintain baseline first add close it go to project again assign baseline and press ok go to Ken chart right click and say boss chick primary baseline and press ok now you can see your project is displaying baseline as well right the next step is we are going to update the project so we will update in every week so the first week update that is 25 percentage of the project should complete and we have engaged 150 labels so we will see how to do this in frame Avera select the activity go to status check the project is started and say 25 percentage is completed after that you can go to schedule you can raise get your project on 7 March 5 p.m. select and schedule so you can see the program has no delay because we are going as per the plan now we go for the resources and see how much resource how much labor units is engaged in this activity till the actual units and Coast is showing 0 you can just browse the project and often so that the bug will be removed you can see actual units is showing 105 actual disappeared units is also 105 so here you can see how much labour we really engaged at the site that is 150 labour so you have to enter this value in actual this period unit value 150 so automatically your actual units will be changed after doing this you have to go to tools and click on store media performance this performance and this value 150 will be stored under financial period week 1 right if you want to change you can change it from here so currently we are going to put this value under week 1 financial period and you can press store now now see what happens to the program once you click store period performance actual this period units will become 0 because all that value has been stored so that is why it becomes 0 now the program is ready to take the next value now we are going to update the project on the second week second week in actual we have engaged in 90 Labour's right so we will update the project go to status again say 25 percentage change to 50 percentage and schedule it to 14th March 5 p.m. schedule it right go to resources you can see actual this period units program recalculate it to 16 according to the plan but inside we have engaged 90 Labour's so change the value to 90 again go to tools click store period performance store the value under week to click store now you can see this 90 will become 0 now this value 90 is toe to week 2 next we will update on v3 go to status say 75 percentage is completed Schedule E 221 go to now the actual this period units is 75 this value is calculated by the program using remaining units okay so week three we have engaged 120 labor so you can change the value to 120 can see the coast is also changing accordingly and go to tools store the in performance and click store now right so again it becomes zero now we will do our final operation that is of week four hundred percent complete on that particular week we engaged 110 Labor's go to status say the activity is finished on 28 March and scheduled to 28th March go to resources you can see actual this period units is calculated by the program as 16 change into 110 again go to tools store period performance store now right we can see again it went back to 0 when you update our chosen program program will accumulate it into actual units so it will be very difficult for you to understand how much labor is actually engaged in every week that is why we are using store period performance now you can check the columns you can see beautifully program has arranged the columns week one actual labor cost 15,000 labor units is 150 actual labor cost of week 2 9000 labor units is 90 V 3 is 120 and b4 is 110 C program is calculating value in every week so now we've got answer how much money did you spend on project every week now if you want to create a report based on this you can go to the report tab here I have created a report financial periods right click run report you can see the report we've won financial PD's week 1 activities wall reinforcement actual labor units is 150 actual labor cost is 15,000 earn value is 1:05 earn value coast is 10,500 plan value that value coast here known value moose is 10,500 and plan value cost is 10,500 it's because the project don't have any delays so here you can see the total in weed 1 we have engaged 150 Labour's and spend $15,000 we do 90 units $9,000 v3 120 $12,000 and week for 110 and $11,000 so it's a very beautiful report which will be very helpful for the people who works in construction industries this report I have created using report visa you can watch my videos on reports to get better understanding to create reports now we will go back to activities you can just click on resource usage profile the program will show you it curves right click here go to resource usage profile options if you want to display the coast you can click this radio button and display actual using financial period data click here press apply program will show you the weekly distribution you can see this entirely you have engaged more labor that is why actual period actual Coast is going now and you can see the curve this curve is over the budgeted cost that means you have spent more money than you might and if you want to generate an s-curve you can go to activity usage profile program will come up with s curves right click go to activity usage profile option you can click coast you can click on plan value in Coast and own value Coast also actual you can uncheck this and press apply you can see the plan value Coast and own violent coast curve is on the same line it's because there is no delayed the project but the actual if you can see the actual it is over own value and plan valid it because as you have engaged more labor you have spend more money that is why the actual curve is over earn value and plant value right so there are a lot of information you can just play around with this it will display many things like budgeted actual units so a lot of information out there you can just go through it also you can go to resource in assignments here you can add actual units budgeted units and period actual units and you can set the time scale to monthly you can see in the March month actual units is 470 budget it is 420 here you can see planned is 420 and actually is 470 and period actual units is also 470 if you want to customize this columns you can right click here go to spec sheet feels good customize you can put whatever values you want from here so I hope you understood this session and if you have any doubts on this session you can ping me on whatsapp or Skype or any social media applications and thank you for watching

Channel: TUTOMAASH - Oracle Primavera P6 Online Training

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Id: R-6QbL9GUNY

Length: 18min 42sec (1122 seconds)

Published: Sun Jul 17 2016