New User Experience: Manage Idea Financials

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HID_newux_ideafinancials
Nicole, a project manager observes that some of the ideas have substantial potential and can be converted into projects to add value to their organization. However before the ideas are converted Nicole needs Rita's financial expertise to project the estimated cost of the ideas before she can submit the ideas for approval.
Rita develops various cost plans for the shortlisted ideas. Rita also plans to show the cost breakdown for each cost plan and hence creates the cost plan details. Since the Financial module is enabled in this release, it saves Nicole's time to view the cost plan and cost plan details for ideas that already have the financial estimates in Classic PPM.
Rita can also complete the following goals:
  • View all the financial cost plans on the Plan List page.
  • Create, edit, and analyze cost plans.
  • When ready, she can mark the plan of record.
  • Adjust the cost plan based on the progress of ideas and create a new cost plan that either merges with or replaces the existing budget.
  • Ideas that have cost plans in Classic PPM, are automatically included in the Cost Plan List view in the New User Experience.  
  • 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 Ideas. 
  • You can submit a Cost Plan for approval from the New User Experience but you can view and approve the budgets only from Classic PPM. 
  • You can link a Benefit Plan with a Cost Plan List in the grid view or through the flyout in the New User Experience. However, you can create Benefit Plans only in Classic PPM.
  • Since Idea 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 an idea. 
This section contains the following topics that helps a financial manager perform various tasks using the Idea Financials in the 
New User Experience
:  
 
2
 
 
Prerequisites
Before you begin using the feature, ensure that the following configuration details are implemented by your administrator:
  • Ensure that your administrator has configured the financials module using blueprints.
  • Ensure that your idea is financially-enabled and that an entity with active fiscal time periods is associated with the idea in Classic PPM. To do so associate your idea with a department. Select Department from the Column picker and then specify the department value in the row for the idea. 
  • Verify that your administrator has provided you with one or more of the following access rights:
    • Idea - Cost Plan - Edit All
    • Idea - Cost Plan - View All
    • Idea - Cost Plan - Edit
    • Idea - Cost Plan - View 
For more information, see 
Access Rights Reference
 in the English edition of the documentation.
Work With Cost Plan and Cost Plan Details
Create a Cost Plan
You can create multiple cost plans for an idea. 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 an idea.
Example:
 Rita develops cost plans for the idea Email Archival Repository for the fiscal year 2020, and 2021 for New York and London to determine the operating and capital costs in each of these locations.
 
Follow these steps:
  1. Open an Idea and click 
    FINANCIALS
    . The cost plan list appears in grid layout.
  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. 
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.
Associate a Cost Plan With a Benefit Plan
You can link a Benefit Plan with a Cost Plan List in the grid view or through the flyout in the New User Experience. However, you can create Benefit Plans only in Classic PPM.
 
Follow these steps:
  1. Open an Idea and click 
    FINANCIALS
    . The cost plan list appears in grid layout.
  2. Navigate to the Column picker, select Benefit Plans. The Benefit Plan column is added in the Cost Plan grid.
  3. If there are multiple Benefit Plans for a Cost Plan, click the drop-down list from the row and select a Benefit Plan. The Benefit Plan is now associated with the Cost Plan.
Edit a Cost Plan
If the estimates have changed for an idea, 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.
Example: 
Rita receives feedback that she must update the cost plan Period Type in Email Archival Repository for the fiscal year 2020 to be monthly instead of quarterly, add specific details in the description, and then submit it for approval.
 
Follow these steps:
  1. Open an Idea and click 
    FINANCIALS
    . The cost plan list appears in grid layout.
  2. Make in-line edits. Alternatively select a cost plan, click 
    DETAILS
    . The Details panel opens.
  3. Click the details icon.
  4. Edit the necessary details.
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 List to view the cost allocation breakdown. You can drill into a Cost Plan List to review the Cost Plan Detail view. You can also add Cost Plans Details through in-line edit.
Example:
 Nicole asks Rita to show the cost plan details for the various cost plans to view the cost breakdown for the entire period.
 
Follow these steps:
  1. Log in to the 
    New User Experience
    .
  2. Navigate to 
    Ideas
     from the main menu.
  3. Open an Idea and click 
    FINANCIALS
    . The cost plan list appears in grid layout.
  4. Select a cost plan. The cost plan details page opens.
  5. 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 grouping attribute.
  6. Specify the values for the attributes and the cost involved. 
You can copy and paste the cost values in the grid. 
If you select the option 
Populate from Allocations
 in the Cost Plan List, the cost involved is auto populated based on preconfigured values.
 
Edit Cost Plan Details
If the estimates have changed for an idea, 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 an Idea and click 
    FINANCIALS
    . The cost plan list appears in grid layout.
  2. Open a cost plan. The cost plan details page opens.
  3. Select a cost plan detail, 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.
Set the Plan of Record and Submit for Approval
If you have defined multiple cost plans for an idea, by default the first cost plan is set as plan of record (POR). You can set any other cost plan as the plan of record for an idea. The Plan of Record can be configured using either the grid action menu, grid or flyout. 
You can submit a Cost Plan for approval from the New User Experience but you can view and approve the budgets only from Classic PPM.
Example:
 Rita sets the cost plan for the FY2020 New York as the plan of record (POR) so that she can submit it to her stakeholders for approval.
 
Follow these steps:
  1. Open an Idea and click 
    FINANCIALS
    . The cost plan list appears in 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 idea.
  3. Right-click the cost plan and select 
    Submit for Approval
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. 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 an idea. If you select Department and Location attributes. This helps you determine the amount estimated to be spent on a specific department in a specific location.
Example:
 Rita wants to group the cost allocation department wise and thereby groups the cost plan detail using the Department attribute. This helps stakeholders understand the cost breakdown for each department. 
 
Follow these steps:
  1. Open an Idea and click 
    FINANCIALS
    . The cost plan list appears in 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 in the cost plan details page. The attributes let you group and aggregate the cost for a specific attribute.
Idea Collaboration Using Conversation From Cost Plan and Cost Plan Details Page
You can coordinate with your team for an idea using the Conversations panel. Team members and managers can reply and mention other team members in the conversation. If the conversation column is enabled in the idea grid a indicates that an idea has conversation associated with it. The Details panel lets you start the conversation.
Example: 
Rita determines that the idea Email Archival Repository for the fiscal year 2020 is now ready and can be submitted for approval, she  notifies Nicole through the Conversation panel to review the idea before it is submitted for approval. Nicole receives a notification, opens the cost plan. She verifies the cost plan list and cost plan details and confirms to Rita through the Conversation panel that the idea can be submitted for approval.
 
Follow these steps:
  1. Open an Idea and click 
    FINANCIALS
    . The cost plan list appears in grid layout. 
  2. Select a Cost Plan. The Details tab appears.
  3. Click the 
    Details 
    tab and start your conversation. You can use 
    @ resource name 
    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 row headers and click the column menu. 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.