dynamics 365 project operations overview

Microsoft Dynamics 365 Project Operations Overview

It’s expected that by 2027 employers will need to fill almost 88 million roles in project m project management. These statistics prove how important these positions are for productivity. Moving forward could create potential risks and loss of revenue.

In this one application, you will connect your teams to maximize profitability. The sales, project management, resource management and finance teams will accelerate delivery and feel more empowered doing so. This application will help you build on the depth of expertise and existing applications of any service-based business.

Microsoft Power Platform, including Power Apps, provides customers with capabilities that enable all teams to analyze, act, and program across their business. This helps service-based businesses to evolve from the bottom to the top. Everything you’ll need to run project operations is all in this one application.

Their 2021 updates provide affluent experiences in several areas. Team members will be able to forecast and invoice non-stocked materials, create contractual commitments by task or schedule, and enhance application lifecycle management (ALM).

Current Dynamics 365 Project Service Automation customers can upgrade to Dynamics 365 Project Operations to begin. Time and expense management is also improved, and project management accounting is built-in. No need to implement another application like Dynamics 365 Finance.

1. Create and Manage Projects

You can choose from six types of project templates to create more easily. Material, cost, internal, fixed-price, investment, and time are available for you to select from. All you must do is choose a template to save time while creating a strategy. All the while handling your project centric needs for all your project based services.

With Dynamics 365 Project Operations, you’ll also have an overview of the financial performance of projects, resource utilization, and revenue earned in real-time. The cash flow monitoring feature forecasts cash flows for projects. The centralized data feature makes information available so the costs and process are always up to date.

Being able to review progress at any time will keep your team on schedule vastly improving customer service. Project statements provide a progress snapshot on a dashboard view. You’ll have access to the activity and task data needed to improve reporting.

dynamics 365 project operations budgets

2. Manage Budgets and Other Monies

With the Dynamics 365 application you can manage budgets by utilizing project forecasting or project budgeting. For the forecasting feature, you’ll enter each transaction in forms. Project budgeting uses a single-entry form to review the original budget details and any revisions.

You can also manage sales promotions and rewards for consumers to achieve goals. This removes the need to manually track rewards. Your team will save time eliminating the need to run reports to determine when clients can receive promotions.

The positive pay feature known as SafePay will help the bank prevent check fraud. It does so by generating lists of checks printed by your business automatically. The lists are sent to the bank to be compared with previously submitted checks before determining which are real.

3. Request for Quotations (RFQs)

Your business or services organization may be required to issue RFQs when searching for a new vendor. For them to provide items or services, this form must be completed. The Finance and Operations feature allows users to do the following:

  • Simplify the process
  • Create and share RFQs with vendors
  • Register received bids
  • Transfer accepted bids

You’ll start by choosing between creating a purchase order, agreement, or requisition. From there, you’ll create the report needed for the RFQ for a specific vendor. You’ll finish by transferring the accepted bid to the proper purchase type. Accurate quotes are all part of project operations.

dynamics 365 project operations task management

4. Manage Tasks in Dynamics Project Operations

One key feature is you’ll be able to drive projects forward by prioritizing tasks and resolving issues. The built-in business intelligence tools provide updated insights for all project stages, as well as reporting on project financials and project delivery requirements. They also offer information to ensure the right choices are being made.

You can identify tasks and load capacity by setting up project quotations. These will schedule tasks, manage budgets, and monitor each status to prepare for possible delays. Your team will create quotations that include products and services, contact information, agreements, special offers, and monies.

The work breakdown structures (WBS) can be utilized to describe the tasks that need to be done, which resources will be used, and the timeframe for completion. You’ll need to create granular WBS for projects with a very low tolerance for deviations. This will ensure thorough tracking of progress and budget.

5. Product Catalogs in Dynamics Project Operations

Project Operations capabilities include benefits for the purchasing team too. You’ll have the ability to import products and services directly from vendor catalogs into your internal system. Your team will then be able to order from the internal procurement catalog made available.

Deciding which products are necessary and within a budget doesn’t have to be difficult. Integent’s Consulting services can help you choose what’s the highest priority, and how to integrate products and services into your organization. Microsoft experts can provide the insight your business needs to evolve.