Project Execution with PS 
Purpose
You can use this business process to carry out a planned project. You can monitor and control how the project is executed using a number of different mechanisms. You use this business process for more complex projects that have a defined start date and finish date.
Using project management methods improves your overview of the activities to be carried out and the effect they have on the schedule. Moreover, Project Execution helps you react quickly to any variances from the project plan.
Prerequisites
You have planned a project and created the project structure. You have carried out the resource planning process.
Process Flow
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1. Release project (SAP ECC)
When you release the project, all lower level elements of the project are also released and can then be processed.
2. Create and assign documents (optional) (SAP ECC)
Complex projects require comprehensive documentation and technical documents to be available. For example, the project system uses the high-performance ERP document management to enable you to access numerous project-related documents that were not created in the ERP system, for example, CAD drawings, pixel graphics, contracts, and so on.
You can enter extensive texts for the project (PS texts) in the actual project system; you can also create specifications, descriptions of work packages, protocols, and so on directly when processing the relevant activities and WBS elements.
During project execution, project members assign new documents to the project elements. The assigned documents are processed during the course of the project and can be made into versions. The project member creates a document info record in document management for each document, and assigns the physical document to it. The document info record is assigned to one or more projects or other business objects as metainformation.
3. Create project notifications (optional) (SAP ECC)
In the project business, difficulties with the supplier, fluctuation in prices, and unforeseeable capacity shortfall can cause the project to vary from the project plan. If this is the case, you can record the variances using a notification in the project (claim). Both internal and external persons can create this notification. It serves as a basis for assessing the problem in the enterprise and can be passed on to the appropriate person responsible.
The project system supports Claim Management with the notification category Claim, in which you can enter the following points:
¡ Cause of the variance
¡ Responsible person or group
¡ Costs caused by the variance
¡ Actions and measures implemented because of the variance
4. Evaluate project status (SAP BW and SAP ECC)
Reports enable you to keep yourself informed about the status of the project at any time. For example, reports are available for the following project areas:
¡ Project costs, budgets, and payments
¡ Schedule and logistics of the project
¡ Progress of the project
The reports are not only used to keep the project lead informed, but also inform the project members and all others interested in the status of the project.
5. Simulate alternative processes in project (SAP ECC)
If complex changes need to be made at any time during the project, you can test these changes in a simulation version first, without changing the operational project. If you are satisfied with the result of the simulation version, you can transfer the simulation to the current project.
6. Complete and close project (SAP ECC)
Once the last network activity and the last WBS element have been completed, the project is closed. Closing the project requires a certain amount of work. Firstly, all outstanding confirmations must be in the project. Finally, you also have to close and settle the objects that were created in Accounting using the Project Accounting with PS process.
Result
The closed project is still available for final examinations and evaluations and can, for example, be used to adapt the existing project templates with regards to continuous improvements.