Professional Project Management
with Microsoft Dynamics 365 Finance
There is a clear trend: more and more companies are working with projects, both internally and for external purposes. Behind this is also the desire for interdisciplinary teams to work on topics, for more agility to emerge, and for initiatives to be clearly delimited from the planning to the financial dimension. As the number of projects increases and there is a risk of losing the overview, professional tools are needed for these tasks.
With Microsoft Dynamics 365 Finance, the project management function can be fully integrated into the ERP from a wide range of application areas. That is because a project does not always have to be related to a product. Projects are used to provide a service, to plan or budget marketing, to achieve x arbitrary result and of course to create a product.
A project is a group of activities, with start and end dates. The project must provide information about time, cost and performance.
Several important processes occur during project startup. You can use a project quote to enter pre-calculated tasks. Or, you can use the work breakdown structure to plan and evaluate upcoming work.
The following graphic shows the structure of a project:
While the projects are carried out, the employees or project team members record their times and expenses. The project managers have the tools to monitor the times with the budgeted amounts. The integrated Power BI in Microsoft Dynamics 365 Finance enables the project manager to monitor several projects simultaneously. Multi-project management thus becomes simple.
Your organization may have several departments, subsidiaries and other legal entities that transfer products and services to each other for the same project. Your goal is, to make cost control, revenue recognition, taxes and transfer prices for intercompany project postings more flexible and efficient.
In Microsoft Dynamics 365 Finance you can use several methods to create purchase orders for a project. The method that you use is determined by the purpose of the purchase order, the time of consumption of the purchased items, or the time of billing of the purchased items for a project.
The following are methods for doing this:
A project proposal will specify services calculated for the project, basic contact information, special trade agreements and discounts, and possible taxes and surcharges. In addition, activities or tasks can be selected for a project and a hierarchy of tasks and sub-tasks can be created. For each activity, you can enter details about the time and duration of the activity, as well as the qualifications and experience of the work force.
The project offer is a non-binding preliminary cost estimate of the planned work. However, if the information in the quotation is copied into a project that is assigned to a project contract, the information becomes part of an agreement between two parties.
If the customer approves the project quotation, the information in the project quotation can be copied into a project.
In Microsoft Dynamics 365 it is possible to attach any kind of documentation to the project task. Or, the project information is created in Microsoft OneNote, edited in the team and then stored in Microsoft OneDrive. With the direct link to the project task in Microsoft Dynamics 365 Supply Chain Management, the document can be accessed at any time. The automatic visualization shows the team members who last edited the document. With Microsoft OneNote you have unlimited possibilities to store project information that you want to share or edit with your team.
Manage all your documents in the protected area of OneDrive. OneDrive is a business application developed by Microsoft and is part of Microsoft Dynamics 365 Finance. No matter whether you create the document in Microsoft Dynamics 365 or from any other external application. In Microsoft OneDrive you can store, segment and manage all your documents.
The big advantage is that you can use the documents from Microsoft OneDrive. If the documents are accessed by employees who are out of the office, the redirection via a remote server connection is now a thing of the past. A browser and the access data are sufficient to gain access to the documents. Access to Microsoft OneDrive is possible with any Internet-capable mobile device. Microsoft OneDrive is the perfect solution for service staff, field staff and managing directors.