Issue and Risk Management: Microsoft Dynamics 365 Finance vs. PlanAutomate

This is an 8-part blog series on Microsoft Dynamics 365 Finance vs PlanAutomate. The purpose is to analyze the Dynamics 365 ERP for the functional support you will need as a project-based company. Discover what is included in D365F and what you may need to supplement your implementation of it as a project-driven organization in the construction and engineering, ETO manufacturing, or professional services industries.  

1. Microsoft Dynamics 365 Finance and Operations Was Not Built for Project Businesses

2. Budget Management: Microsoft Dynamics 365 Finance vs. PlanAutomate

3. Month-End Process: Microsoft Dynamics 365 Finance vs. PlanAutomate

4. Cost Control: Microsoft Dynamics 365 Finance vs. PlanAutomate

5. Project Scheduling: Microsoft Dynamics 365 Finance vs. PlanAutomate

6. Issue and Risk Management: Microsoft Dynamics 365 Finance vs. PlanAutomate

7. Resource Management: Microsoft Dynamics 365 Finance vs. PlanAutomate

8. Project Insight and Analytics: Microsoft Dynamics 365 Finance vs. PlanAutomate

It should come as no surprise that in the world of projects, it is not what you know, but when you know it that really matters. Oftentimes, senior management and executives do not have a way to instantly recognize changing conditions and risks. Whether it is accelerating budget overruns or minor but multiplying issues, all these challenges can be resolved by timely detection and intervention.  

Our previous blog comparing Microsoft Dynamics 365 Finance project management and accounting to PlanAutomate analyzed the project scheduling functionality part of project financials. This blog will look at another specific project management functionality: issue and risk management.  

While our product is built on D365F, issue and risk management are entirely not supported in D365F. That said, there is no comparison regarding this project functionality. Therefore, if you are keeping a risk registry and managing issues, it is entirely outside of D365F as well as Microsoft Project Operations.  

Now let’s see how PlanAutomate handles Issue and Risk Management.  

PlanAutomate

Project risks are tracked and managed in many ways with Project Automation. From the continuously updated issue register to formal month-end and gateway review risk assessments, to 20+ built-in project health indicators, Project Automation enables continuous tracking and reporting against project risks. 

Project Automation provides an issue register that allows you to track issues against the work breakdown structure (WBS) tasks. Issues are assigned to workers for resolution and are tagged with deadlines, severity codes and type classification for reporting purposes. In addition, a discussion log and revision control ensure issues are tightly tracked from creation to resolution. 

As projects pass through schedule milestones, formal risk reviews can be configured. The resulting risk assessment is published in various project dashboards. The same goes for formal risk reviews that can be enforced during the month-end process along with mandatory checklists to enforce corporate governance.   

Above and beyond D365F&O, PlanAutomate adds the following capabilities (and more) to issue and risk management: 

• Period close risk review 
• Issue management 
• Issue severity statistics 
• Issue group statistic 
• Raise issues from timesheet 
• Issue management workspace 

Early Detection is Key to Effective Risk Management

It is very straightforward. The quicker risks are identified the more likely the chance that effective mitigating actions can be taken. Project Automation comes with a wide range of project health indicators that monitor everything from milestone slack and resource conflicts to budget overruns and delayed purchase orders. These sensor points are automatically updated and enable C-level stakeholders, as well as project managers, to stay ahead of risks and take timely action.

 

Check out this updated Whitepaper on Dynamics 365 Project Operations – the recent release from Microsoft that is an enhancement and combination of the previous D365 Finance project management and accounting module (PMA) and Project Service Automation (PSA).

This whitepaper provides a high-level overview of the functionality contained in Project Operations and compares it to PlanAutomate. Understand exactly what capabilities are included, what you need, and how to get them.