Concept: Workday Projects

Workday Projects enables you to:

Plan and track your work.

Integrate your projects with Workday Human Capital Management and Financial Management.

Use worker attributes and organizations when you configure and manage your projects.

Workday supports these types of projects:

Project Type	Use
Basic	Basic projects function solely as worktags on financial transactions and payroll entries. They don't contain detailed project information.
Nonbillable	Internal projects that don’t invoice customers for work done on the project. With nonbillable projects you can: Divide work into phases and tasks. Assign workers and unnamed resources. Track costs and spending.
Billable	Projects with customer contracts, invoices, and billing. When you use billable projects with Workday Revenue and Project Billing, you can: Define billing rates and create contract rate sheets by project role. Define billing rate rules for automatic billing. Define hourly billing rates by job profile and project role. Recognize revenue for projects based on the percent complete accounting method. Invoice your customers for billable time and expense transactions.
Capital	Projects with cost transactions. You can record and manage the costs as long-term assets within the project. Doing so delays the recognition of these costs until you're ready to capitalize the costs into capital business assets.
Opportunity	Sales opportunities that you can later convert into a project. You can use opportunities to: Prioritize resources and make staffing decisions based on the probability of the sale. Create project plans and generate forecasts. Generate financial reports and view the estimated profit. When you sell an opportunity project, you can convert it using the Convert Opportunity Project to Project task.

Uses for Workday Projects

Alignment: You can define company goals and communicate how you're going to achieve them. Defining these goals ensures that the work in your organization lines up with the goals of your organization.
Use initiatives to align your projects and nonproject work with company goals. Initiatives describe how you're going to achieve your goals.
Use projects and nonproject work to take concrete steps toward your goal. Workers can log their time and effort, and you can track spend costs versus estimated budget.
Planning: You can determine an optimum resource distribution by analyzing labor costs and availability for allocating your resources.
Use Idea Management to collect and funnel ideas from your entire workforce. Then, turn the best ideas into actual work that drives your workforce toward a common goal.
Use Project Scenario Planning to model different scenarios and potential resource allocations before creating projects.
Tracking: Use Workday Time Tracking or create ad hoc project time transactions to record hours for projects and tasks.