Plan types enable you to define the types of budgets and forecasts that you want to plan for (for example, an approved budget, a revenue budget, or a bid). You can add multiple plan types to a project by choosing from the list of financial plan types defined during implementation.
When you add a plan type, you must choose whether the plan type allows the entry of cost amounts only, revenue amounts only, or both cost and revenue. When you plan for both cost and revenue, you can choose whether cost and revenue amounts are entered in the same version or in separate versions. You cannot change the cost or revenue plan setup option after a plan version is created for a plan type.
Note: When you plan cost and revenue amounts together in the same plan version, Oracle Projects derives revenue each time that you update cost amounts. If you want revenue derivation to be independent of cost amount entry, then plan for cost and revenue in separate plan versions.
You must specify planning options for a plan type in the context of a project. The planning options that you define for a plan type are the default planning options for plan versions that you create for the plan type.
Note: If the Enable Workflow for Status Changes is enabled for a financial plan type, you cannot change this option when you add a plan type to a project.
A project can have only one budget plan type that is designated as an approved cost budget or as an approved revenue budget. You can either select a single plan type that includes both designations, or you can select a different plan type for each designation.
A project can have only one forecast plan type that is designated as a primary cost forecast or as a primary revenue forecast. You can either select a single plan type that includes both designations, or you can select a different plan type for each designation.
An approved budget designation enables you to use a baseline plan version for reporting and for project billing. It also enables you to implement the financial impact of an approved change order in a current working plan version. A primary forecast designation also enables you to use an approved forecast version for reporting. In addition, Oracle Projects automatically generates an initial forecast version for a primary forecast plan type, if none exists, when you create an initial baseline for an approved budget plan type.
Attention: You can update the approved budget and primary forecast designations only at the financial plan type level. You cannot change these designations when you add a plan type to a project template or project, or when you create a plan version for a plan type.