Financial Management Overview
Delve into the comprehensive financial management components presented by David Wachsmann & Jen Scarlato at Rego University. Explore topics such as financial planning cycles, architecture of financial fields, leveraging financial plans, and defining a rate matrix.
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www.regouniversity.com Clarity Educational Community Financial Management Overview Presented by: David Wachsmann & Jen Scarlato Prepared: 4/10/2015
Agenda Overview of Financial Components Value of Financial Management Challenges Rego Keys to Success Questions 2 Clarity Educational Community
Major Financial Management Components Field Architecture, Entities, Departments, Locations Calculating Rates with the Rate Matrix Financial Plans Benefit, Cost, Budget Portfolio Financial Analysis Financial Integrations 3 Clarity Educational Community
Financial Planning Cycles Ideas Projects Portfolios 4 Clarity Educational Community
Architecture of Financial Fields By Object By Field Resource-based Work-based Investment Department Location WIP Class Investment Class Charge Code Cost Type Resource Department Location Role Resource Class Transaction Class Input Type Code Input Type Code Resource Timesheet Entry WIP Class Investment Charge Code Investment Task Timesheet Entry Cost Plan Grouping Resource Class Resource Task Transaction Class Resource Cost Plan Grouping Team Role Investment Class Investment Charge Code Cost Type Cost Type Investment Task Assignment Role Resource/Work-based Department Investment Resource Location Investment Resource Role Resource Team Assignment Timesheet Entry Cost Plan Grouping Timesheet Entry Role Charge Code Input Type Code Cost Plan (grouping) Role Charge Code Transaction Class 5 Clarity Educational Community
Define a Rate Matrix 6 Clarity Educational Community
Leverage Financial Plans FINANCIAL MANAGEMENT FUNCTIONS Cost Plan Aggregated Reporting of Financial Cost Attributes Time Scaled Estimates Available to Project Manager Benefit Plan Reporting of Benefits Available to Project Manager/BA Budget Plan An Approved Cost Plan Financial Baseline 7 Clarity Educational Community
Leverage Financial Plans 8 Clarity Educational Community
Portfolio Financial Analysis Portfolios allow investments to be grouped together based on specific business rules or commonalities Financial constraints can be set on a portfolio, which indicate what the targeted planned costs are for the enterprise to execute the investments that are contained within it 9 Clarity Educational Community
Portfolio Financial Analysis Investments can be measured against the portfolio s targeted costs. The Planned Capital and Planned Operating costs within the waterline view are derived directly from the cost plans on an investment. This allows the investments within the portfolio to be balanced and prioritized with visibility into the cost to deliver the investments. 10 Clarity Educational Community
Integration The primary data that is typically integrated into or out of CA PPM include: Labor in Hours Labor in Dollars Non-Labor Costs in Dollars $ External Systems CA PPM However prior to building integration it is important to have a solid process defined around financial processing and reporting $ 11 Clarity Educational Community
Value of Financial Management The more functions brought into CA PPM, the more value from the Tool Avoid Multiple Sources for Project Data Financial Reporting has Gravitas: We were 200 hours under estimate vs. We were 25,000 under estimate Full Financial Forecasting allows for strategic Planning Optimizing Financial Performance matures project management practices Financial Evaluation helps determine to Kill projects an important / necessary oversight function 12 Clarity Educational Community
Challenges Open Mic Have you implemented financials within CA PPM? What Goals did you intend to Achieve? What issues did you have in implementation or use? 13 Clarity Educational Community
Challenges How do you deal with having different rates for the same role when a role can only have one rate? If you need to re-configure financial settings, how do you do this? How do you keep CA PPM and the financial system in sync? Do you even try? How do you deal with contractor rates? A rate for every contractor? How do you get PMs to keep forecasted costs current? 14 Clarity Educational Community
Keys to Success CA PPM is not the General Ledger Start Simple Release and Optimize Involve Finance in in Financial Setup Decisions Design CA PPM Financial Configuration to Reproduce existing Reports in Other Formats Spend Time on Full Financial Architecture / Build Proof of Concept in NON-PROD Environment One of the most powerful internal functions in CA PPM is the integration of Scheduling and Financial Data 15 Clarity Educational Community
Questions We hope that you found this session informative and worthwhile. Our primary goal was to increase your understanding of the topic and CA PPM in general. Phone 888.813.0444 Email info@regouniversity.com There were many concepts covered during the session, if you would like to contact any presenter with questions, please reach out to us. Website www.regouniversity.com Thank you for attending regoUniversity 2015! 16 Clarity Educational Community
