What is the basic need or necessity for a project profile?

Project profile is basic heart of Project configurations.

The values maintained in the project profile determine the functionality of certain areas of the Project System. These values cannot be changed without prior thought. Sections like Basic data, Time scheduling, Costs/revenues/finances, Organizational data must be maintained for the project profile.

Control data like Project type, field key, simulation profile, validation, substitution, project stock, automatic requirement grouping, status management, sales pricing can be entered in this field.

Organizational data like Company code, Controlling area, Business Area, Plant, Profit Center, Proj. Currency can be entered in this field.

Project Planning board is option of viewing the project along with WBS, network, activities in the form of Gantt Chart. It contains data such as scheduling profile, factory calendar, network profile; planning board profile can be entered in this field.

Controlling data such as Object class, Indicator for Statistical Cost & Integrated Planning, Planning profile, Budget profile, Costing Sheet, Interest profile, Settlement profile, settlement rule strategy can be entered in this field.

Use transaction OPSA to create project profile, and maintain the data such as organization, controlling parameters, diff. profiles etc. in it. The data will get defaulted whenever project is created using this project profile.

The project profile contains default values and other control parameters such as the planning method for dates and costs.

The data that you enter in the project profile will be copied into a project in its project definition or in the WBS elements which can later be overwritten.

Examples:

- To call up the graphic, you must first have specified various graphic profiles in the project profile.
- To carry out cost planning you must specify a planning profile.
- To carry out financial budgeting you must specify a financial planning profile.

You can maintain the various profiles which must be present in the project profile in the implementation guide for the Project System and also in the cross-application IMG. For example, the settings for the graphic are made by choosing Basis -> Frontend Services -> Network/Hierarchy.

Notes:

Before creating the project profile - check all of your business requirements.

While creating the project profile - in OPSA
- under Tabs - choose & set CONTROL - project type, version profile. 
- if any validations/substitutions, whether the project is treated with Valuated stock/non-valuated stock, Status Management, Graphic profile settings, Project Summarization if relevant, SD related if required based on business process. 

ORGANIZATION DATA - Controlling area, Controlling code, business area, Plant, Profit center, Currency.

PLANNING BOARD /DATES - scheduling profile, network profile and planning board graphic settings.

CONTROLLING DATA - object class (investment/PA),planning, budget, result analysis, costing sheet, interest, investment, settlement-profile, settlement rule strategy, graphics for Budget.

All of the above settings purely based on your project scenario and in consultation with your FICO, MM.

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