In this video, we’ll look at the project financial dimensions that need to be configured for Project Financial Planning.

As an Admin or Budget Process Owner (BPO), you enable Project Financial Planning from the Company Profile. This will add Project cost objects to the plan, which can be accessed through the Plan Section menu.

You configure the project financial dimensions in Reference Data.

The financial dimensions that you directly configure for a project include:

• Project
• Project Group

In addition, the following dimensions also need to be configured for PFP to work:

• Cost Object Permissions, and
• Transfer Account Default

Note: Apart from configuring the Cost Object Permissions and Transfer Account Default dimensions, you also configure the External Labor Pool and Internal Labor Pool dimensions.

Let’s briefly discuss these dimensions.

The Project dimension displays the project hierarchy and the relationship to cost centers and general ledgers.

The Project Group dimension represents your preferred organization's project structure for budget planning and reporting roll-up purposes. Once you’ve set up the project groups, IT Planning displays the project hierarchy in the Plan Sub-Section menu and in the Services Summary view.

The Cost Object Permissions dimension determines who can perform various actions with Cost Objects. The Hierarchy view shows the latest published Cost Object hierarchy. The List view shows all users that are assigned to any Cost Object, including historical Cost Objects that are no longer in the latest published version.

The Transfer Account Default dimension helps Project owner, Service owner, Business Relationship Manager and the Business Unit Owners determine the correct allocation of money for consuming or supporting various projects or services.

The External Labor Pool and Internal Labor Pool dimensions are a departmental feature. If configured, they help allocate people to a project.

That’s a quick introduction to the project financial dimensions that need to be configured for Project Financial Planning. Thanks for watching!