Custom Investments: Manage Financial Plans

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HID_newux_custominvestmentfinancials
This section describes how to manage the financials for a custom investment type.
Rita is a Financial Manager. Her key responsibilities include managing the Planned Cost Plans and Actual Cost Plans for the Custom Investment types that she is responsible for. As a financial manager, she can use the Financials section to access the financial plans for a custom investment. Rita can also complete the following goals:
After you have created a custom investment. You can create cost plans for a custom investment.
  • View all the financial cost plans and total costs on the Plan List page.
  • Create, edit, and analyze cost plans.
  • The Cost Plan List and Cost Plan Detail views support custom attributes in both the grid and flyout. Configure once and the attributes are available in the custom investment type.
  • Since the Custom Investment type uses the common grid component, the Grid Status Bar displays Average, Count, Min, Max, and Sum for the selected cells in the grid. For example, you can select multiple rows from the Cost column in a cost plan detail and see the total and average planned cost for those attributes for a Custom Investment type.
This section contains the following topics that help a financial manager perform various tasks using the Custom Investment Type Financials in the
New User Experience
2
Prerequisites
Before you implement the feature, ensure that the following configuration details are implemented by your administrator:
  • Verify that a custom investment is created and published using Blueprint by your administrator.
  • Ensure that your custom investment is associated with the blueprint in the custom investment grid view. To do so add the blueprint column from the column picker and select the newly created custom blueprint from a standard blueprint. For more information see, .
  • Ensure that your custom investment is financially-enabled and that an entity with active fiscal time periods is associated with the custom investment in Classic PPM. To do so associate your custom investment with a department by selecting Department from the Column Picker and then specifying the value in the Department.
  • Ensure the resource is Open for Time Entry.
Apart from the basic Custom Investment access rights, ensure that you have one or more of the following access rights to access Custom Investment Cost Plan:
  • <custom_investment_type>
    - Cost Plan - Edit All
  • <custom_investment_type>
    - Cost Plan - View All
  • <custom_investment_type>
    - Cost Plan - Edit
  • <custom_investment_type>
    - Cost Plan - View
For more information, see
New User Experience: Custom Investment Access Rights
in
Clarity PPM Access Rights Reference
the English edition of the documentation.
Work With Cost Plan and Cost Plan Details
Create a Cost Plan
After you have created a custom investment, you can create cost plans for a custom investment. However, you can set only
one
cost plan as your plan of record (POR). By default, the first cost plan is set as the plan of record for a custom investment. The following attributes are supported in this release:
  • Name
  • Created Date
  • Period Type
  • Start Period
  • End Period
  • Total Cost
  • Benefit Plan
  • Grouping Attributes
  • Currency Code
  • Description
  • Plan of Record
  • All Custom Attributes
Follow these steps:
  1. Open a custom investment and click
    FINANCIALS
    . The cost plan list appears in a grid layout for that custom investment.
  2. Click the (
    +
    ) plus icon. A new line appears in the plan list grid.
  3. Complete the required fields including
    Plan Name
    ,
    Start Period
    ,
    End Period
    , and
    Grouping Attributes, ID
    ,
    Period Type
    and various other fields that are available from the column picker.
    Note:
    The values in the
    ID
    field only appears if auto-numbering is turned on for the Cost Plan object in Classic Clarity PPM. You can select one or more predefined grouping attributes.
The values in the
ID
field only appears if auto-numbering is turned on for the Cost Plan object in Classic Clarity PPM. You can select one or more predefined grouping attributes.
Edit a Cost Plan
If the estimates have changed for a custom investment, you can edit and update the associated cost plan from the Details panel. You can also update the line item details for a cost plan by editing the rows in the grid. Double-click the cells in the plan to edit the planned cost values. You can copy planned costs from the same grid or an excel sheet and paste it elsewhere in your grid.
Follow these steps:
  1. Open a custom investment and click
    FINANCIALS
    . The cost plan list appears in the grid layout.
  2. Select a cost plan, click
    DETAILS
    . The panel opens.
  3. Click the details icon.
  4. Edit the following as required:
    • Cost Plan Name
    • Start and End Periods
    • Custom Attributes
    • ID (if auto numbering is not enabled)
    • Period Type
The edits are immediately visible in the cost plan.
Create a Cost Plan Detail
You can create cost plan details for a specific cost plan to view the cost allocation break-up.
Follow these steps:
  1. Open a custom investment and click
    FINANCIALS
    . The cost plan list appears in the grid layout.
  2. Click a cost plan name. The cost plan details page opens.
  3. Click the (
    +
    ) plus icon. A new line appears in the cost plan details grid. The Grouping Attributes that you have set in a cost plan appear as columns in the cost plan details page. The grouping attribute helps you find the aggregate cost for a specific cost plan.
  4. Specify the values for the attributes and the cost involved.
Edit Cost Plan Detail
If the estimates have changed for a custom investment, you can edit and update the associated cost plan details from the Details panel. Alternatively, update the line item details for a cost plan detail by editing the rows in the grid. Double-click the cells in the plan detail to edit the planned cost values. You can copy planned costs from the same grid or an excel sheet and paste it elsewhere in your grid.
Follow these steps:
  1. Open a custom investment and click
    FINANCIALS
    . The cost plan list appears in the grid layout.
  2. Open a cost plan. The cost plan details page opens.
  3. Click anywhere in a row, click
    DETAILS
    , and then click the details icon.
  4. Edit the cost for each attribute as required. The total cost is updated in the cost plan details page and is visible in the cost plan.
You can copy and paste the cost values in the grid.
  • If you select the option
    Populate from Allocations and Populate from Assignments
    in the Cost Plan List, the cost involved is auto populated based on preconfigured values.
  • When you save a view in the Cost Plan grid, the same view is applied to all cost plan details for the custom investment.
View Actuals Posted
Rita would like to view the actual costs posted during the fiscal period for the custom investment, which helps to compare the Planned to Actuals for the custom investment.
Follow these steps:
  1. Team members must submit a Timesheet, or create a manual transaction entry, or add a transaction through the XOG.
  2. The administrator must then execute the following jobs in classic Clarity PPM.
Method for Posting Actuals
Jobs
Timesheet Entry
Transaction Entry
XOG
Follow these steps to view actuals:
  1. In the main menu, click
    Investments
    .
  2. Open a custom investment, and click
    FINANCIALS
    . The cost plan list appears.
  3. Click the cost plan name. The
    Actuals
    are now displayed in the cost plan details page.
  4. The following time scaled values (TSV) fields for cost plan details are available for selection from the PER-PERIOD METRICS field:
    • Cost
      : Displays the planned cost.
    • Actual Cost
      : Displays the aggregated actual cost for a given fiscal period that is calculated as Actual Units * Cost.
    • Actual Revenue
      : Displays the actual billing rate for a given fiscal period that is calculated as Actual Units * Rate.
    • Actual Units
      : Displays the aggregated actual unit for a given fiscal period.
    • Cost Variance
      : Displays the delta between Cost and Actual Cost.
    • Revenue
      : Displays the planned revenue.
    • Revenue Variance
      : Displays the delta between Revenue and Actual Revenue.
    • Units
      : Displays the planned units.
    • Units Variance
      : Displays the delta between Units and Actual Units.
Actuals_for_Investment.png
You can adjust your view of the Custom Investment grid to show fiscal or calendar per-period metrics (also known as time-scaled values, or TSVs). The selected TSV fields you selected are listed as attributes (columns) in the cost plan details page. Now, the financial date is in-sync with the latest posted actuals.
Set Plan of Record
If you have defined multiple cost plans for a custom investment, by default the first cost plan is set as the plan of record (POR). You can set any other cost plan as the plan of record for a custom investment type.
Follow these steps:
  1. Open a custom investment and click
    FINANCIALS
    . The cost plan list appears in the grid layout.
  2. Right-click a cost plan and select
    Make Plan Of Record
    . The selected cost plan is now the plan of record for the custom investment.
Delete a Cost Plan
You can delete the plan of record if it is the only cost plan available for an custom investment. Otherwise, make another cost plan the POR before deleting the current POR.
Grouping Attributes
Group the cost plan data by the available attributes to analyze how the funds are being allocated for each type of labor for a specific attribute.
Follow these steps:
  1. Open a custom investment and click
    FINANCIALS
    . The cost plan list appears in the grid layout.
  2. Specify the Grouping Attributes from the cost plan. Alternatively, you can specify the grouping attributes from the Details panel. The attributes are also visible from the filter. The Grouping Attributes you specified in a cost plan are listed as attributes (columns) in the cost plan details page. The attributes let you group and aggregate the cost for a specific attribute.
Examples:
  • If you select Resource and Role attributes from the Grouping Attributes column in a cost plan. The cost plan detail page displays the cost involved for the resources you specified and the role the resources pertain to. This helps determine the amount estimated to be spent on a specific role, and amount spent on individuals for that custom investment.
  • If you select Department and Location attributes. This helps you determine the amount estimated to be spent for a specific department in a specific location.
Collaboration Using Conversation From Cost Plan and Cost Plan Details Page
You can coordinate with your team for a custom investment using the Conversations panel. Team members and managers can reply and mention other team members in the conversation. The conversation attribute is available in grid view to indicate with a check that there is conversation associated with a specific cost plan or cost plan detail. You can only communicate using the Details panel from the details flyout.
Follow these steps:
  1. Open a custom investment and click
    FINANCIALS
    . The cost plan list appears in the grid layout.
  2. Select a Cost Plan. The Details tab appears.
  3. Click the Details tab and start your conversation. You can use
    @
    to look for a specific team member. The recipient receives a notification.
Organize Columns in the Grid
You can organize the financial grids by using the grid controls.
Follow these steps:
  1. On the grid, you can hover on any column header and view more options. You can pin columns to the left or right. You can also auto-size or reset column width.
  2. You can group by columns to view the aggregate cost for a specific attribute.
  3. You can show and hide columns on the cost plan. Hover on any of the column headers and click the column menu option. Select the columns that you want to see in the view.
Add/ Delete Rows
You can add rows in the Cost Plan List and Cost Plan Details.
Follow these steps:
  1. Click the (
    +
    ) plus icon
    Add Row
    or right-click on  a row and select
    Insert Row Below
    .
  2. Type in or use the lookup menu to specify the grouping attributes for the new line item.
To delete a row in the grid, right-click any cell in that row and click
Delete Row.