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Using Financial Periods
RT @ GeorgeBray : Your mobile phone has more
Saturday, 12 March 2011 15:15
computing power than all of NASA in 1969. NASA

Financial Periods are an important aspect of “Monitoring and Control” in Primavera. They help us in keeping a launched a man to the moon. We launch a bird i ...

check on the incremental performance of our project by storing Performance Data in pre-defined periods. 1 week ago
Earned Value Management definitions...check it out
Let’s go through the steps on how to setup Financial Periods for use in our project;
at http://www.primaverablog.in 1 week ago

Assumptions: New post on "Using Financial Periods" is up.Check it

out now at http://www.primaverablog.in .
1. Project network has been created
2 weeks ago
2. Resources and Costs have been assigned to the activities
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3. Baseline has been saved
http://t.co/svfXAKH via @ eSarcasm
4. We have a fixed update cycle (weekly, monthly etc)
Step 1 – Creating Financial Periods 4 weeks ago
Post on "Financial Periods" is published. Check it out
Update Cycle – Weekly
at http://bit.ly/dPue04 . Don't forget to leave your

To create periods goto – Admin > Financial Periods comments. 1 month ago

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have no formal PM framework? Is this detrimental?
Have a look at the business brief here h ...
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New post "Managing “Manager Hours” on Projects"
is up. Check it out at http://tinyurl.com/6etk3hv

1 month ago
New post "Performance % Complete Calculations in
the WBS Bar" is up. Check it out at
http://bit.ly/fM6XuU 1 month ago
The new post is up. Don't forget to read it at
http://tinyurl.com/6etk3hv , "Cost & its
importance in Primavera". 1 month ago
1. Batch create financial periods and choose dates
Batch Start Date – 07-Mar-2011

Batch End Date – 31-Dec-2012 Recent Posts

Note - You need to choose dates that cover all your projects in database so that Financial Periods can Earned Value Definitions
be stored for all of them
Earned Value Preparation
2. Choose Financial Periods Every 1 Week. (The periods lengths can be changed as per you requirements)
Using Financial Periods
3. Choose period ends on as Sunday.

http://primaverablog.in/2011/03/using-financial-periods/[3/1/2011 3:11:22 PM]

Using Financial Periods | PrimaveraBlog, Tutorials, Project Management,P3,P3ec

4. Click on Batch Create

Recent Comments

satishkumar on Earned Value Definitions

Amit Parmar on Financial Periods

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March 2011
February 2011

Step 2 – Updating and monitoring project

Workflow: Update Activity > Update Resource Units (Actual this Period Units) > Update Costs > Store
Financial Periods

Actual this Period Units: While updating your resource units, you need to update the actual units in “Actual
this Period Units”. This column shows the incremental values for the update.

I prefer updating “Actual this Period Units” as I just need to put in the incremental value for Actual Units instead
of calculating cumulative units for “Actual Units”

As seen in the fig. above, you just need to input the incremental units used in that week and the cumulative
values are automatically incremented in Actual Units column. Actual This Period Units are reset to 0 every time
you store Financial Periods after scheduling your project.

Step 3 – Next step is to Store Financial Periods

Goto Tools > Store Period Performance > Choose your “Financial Period” > “Store Now”

http://primaverablog.in/2011/03/using-financial-periods/[3/1/2011 3:11:22 PM]

Using Financial Periods | PrimaveraBlog, Tutorials, Project Management,P3,P3ec

In order for the Financial Periods to be visible in your columns, you have to enable them by going to Edit >
User Preference > Application > Columns and choose the range of periods to be visible in the columns.

Generating Reports – Reports can be generated by using the “Time Distributed Data” option in Reports
Wizard.

http://primaverablog.in/2011/03/using-financial-periods/[3/1/2011 3:11:22 PM]

Using Financial Periods | PrimaveraBlog, Tutorials, Project Management,P3,P3ec

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Comments

Dear Amit,

POSTED ON you have nicely detailed about the usage of financial period and period
Mar 14, 2011 performance by taking example.i have gone through all the forums,manuals but
was not able to find the details, the way it is mentioned in your blog..great work..
POSTED BY
satishkumar I followed your instructions and now i am able to use the period performance for
my present project where in i have save the period performace on monthly
basis.

I need some more clarifications on this topic..

I will be working on the shutdown project which is scheduled in june for 30 days.
During the shutdown period i have to update the project every day on 24 hrs
basis.
so i was thinking of using the period performace for this period with interval in
days.
but as you know the financial period is limited to weekly basis only.
so how can i store the period performance on the daily basis?

0 0 Rate This

Reply

http://primaverablog.in/2011/03/using-financial-periods/[3/1/2011 3:11:22 PM]

Using Financial Periods | PrimaveraBlog, Tutorials, Project Management,P3,P3ec

Hi Satish,
Thanks for your appreciation. It encourages me to keep working.
POSTED ON I would like to know,what version of Primavera are you using? Cause in P6v7
Mar 14, 2011 and above, it allows us to create single day periods.
Also, you can create custom period durations. By using the “Add” button on the
POSTED BY
right and manually entering the dates. So you will have to manually enter 30
Amit Parmar
periods instead of using batch create.

Regards
Amit

0 0 Rate This

Reply

Amit,
I am using P 6.2 Version.
POSTED ON as you mentioned can i manually add the periods day wise and store the actual
Mar 14, 2011 time periods..

POSTED BY 0 0 Rate This

satishkumar

Reply

Hi, I don’t think 6.2 supports 1day financial periods. You can try and create one
and see if it gives you any error.
POSTED ON Regards
Mar 15, 2011 Amit

POSTED BY 0 0 Rate This

Amit Parmar

Reply

Dear Amit,

POSTED ON you were right. i cannot get the financial period for day wise.
Mar 16, 2011 the lowest interval which i can get is 2 days.
like 01-mar-2011 to 02-mar-2011
POSTED BY 03-mar-2011 to 04-mar-2011 and so on.
satishkumar but this will not serve my purpose,as i have to get the actuals stored for every 12
hrs.
so i have to do it old way like saving the actuals in the excel sheet every time i
update the actuals.
again thanks for your valuable inputs….

Regards,

0 0 Rate This

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