Performing Projects

This process is used to start a project and then control, schedule, and order the activities in the project to be carried out. When all the activities are completed, the project can be closed.

Before you start

The process can be started when the required activities described in Preparing Projects are completed.

Follow these steps

This section describes the activities in the process.

  1. Project Start

    The project start always precedes the other activities below so they can be carried out. Before the project is started, it must be opened for financial reporting (status 20) and its budget locked.

    Advance invoicing is the only outcome that can be entered before the project start. This can be done when the budget is locked. See Project Budgeting.

    During the project start, project activities and the listed sub-projects are started. Financial outcome can also be reported after the project start. The project can be started in the preparation phase using a quick start. See Preparing Projects.

  2. Project Activities

    This involves carrying out and completing all the activities in the project. See Project Activities.

  3. Project Forecasting

    Forecasting aims at providing information on expected costs and revenues. You can enter separate forecasts and save them as different forecast versions. You can enter forecast values in budget items or in the material budget. See Project Forecasting.

  4. Project Invoicing

    Invoicing in projects can be either partial or on account invoicing. See Invoicing Projects.

  5. Project Recognition

    For reporting purposes, open projects whose costs/revenues are not fully recognized must be valued. This valuation is determined by the selected recognition method. When costs and revenues are recognized, the costs and revenues previously recorded on the balance sheet are shifted to the statement of income. See Recognizing Project Costs/Revenues.

  6. Project Close

    After all activities and sub-projects are completed, the project can be closed. Then no more activities can be connected to the project except adjustment invoicing activities. For this, the project can be restarted. After the project is closed, it is closed financially.

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