Multicurrency in Project Management

  • Release version: Zurich
  • Updated July 31, 2025
  • 2 minutes to read
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    Summary of Multicurrency in Project Management

    The multicurrency feature in Project Management allows you to manage projects or parts of projects in different local currencies, especially useful for projects executed in various geographic locations. This feature converts cost details, including cost plans, benefit plans, and project form cost fields, into a specified project currency, eliminating the need to manually convert between the functional currency and local currencies.

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    Activation

    To enable multicurrency functionality, activate the PPM Standard Multicurrency (com.snc.ppmmulticurrency) plugin. This activation also enables the PPM Standard plugin, providing the ability to toggle between the default currency view and the project currency view in project-related forms.

    Project Currency View

    Once the multicurrency plugin is activated, you can enable the Project Currency view from the form context menu. This view displays multicurrency-specific fields, including a Project currency field on the Financials tab, where you select an active currency from the Currencies table.

    Note that after creating any cost plan, benefit plan, or expense line for a project, the Project currency field becomes read-only to maintain financial consistency.

    Specifying Project Currency in Demand

    You can define the project currency at the demand stage when converting a demand into a project. This flexibility allows management of demands in functional, project, or local currency as needed.

    Project Workspace and Reporting

    In Project Workspace, you can track projects and manage cost and benefit plans in the designated project currency. This includes viewing cost components at both grid and breakdown levels.

    Project status reports also support viewing planned and actual project costs in the specified project currency within the overview and cost sections, providing clear financial insights.

    Use the multicurrency feature to execute a project or part of a project in a different geographic location that has a different local currency.

    The feature helps you to view the cost details of the project in a currency that is different from your functional currency. The values in the project's cost plans, benefit plans, and corresponding cost fields of the project form are also converted to a currency that you specify as project currency. Therefore, you don't need to convert the project currency to the functional currency of the project when the project is executed at a location that uses a currency different than your functional currency.

    Activation information

    Activate the PPM Standard Multicurrency (com.snc.ppm_multicurrency) plugin to enable the multicurrency features in Project Management. Activating the plugin enables the project currency view in project, cost plans, and benefit plans forms. With the project currency view, you can manage your project financials and cost plans in multiple project currencies.

    Note:
    Activating this plugin automatically activates PPM Standard (com.snc.financial_planning_pmo) plugin and therefore you get the option to switch between the default view and the project currency view.

    Project currency view

    In addition to the default view in the Project form, there is Project Currency view, which you can optionally enable to view the multicurrency fields. You can enable this view from the form context menu. The view appears only when you activate the PPM Standard Multicurrency (com.snc.ppm_multicurrency) plugin.

    Unlike the Default view, the Project Currency view contains multicurrency-related fields.

    You can designate a currency other than the functional currency as the processing Project Currency for a project. The Financials tab of the Project form has the Project currency field. You can select an active currency from the Currencies [fx_currency] table.

    Note:

    The Project currency field of a project becomes read-only field and locked down for updating the currency once you create a cost plan, cost plan breakdown, benefit plan, benefit plan breakdown, or an expense line for the project.

    Specify project currency in Demand

    You can specify the project currency that you want to use for managing a project when you convert a demand to a project. You can continue to manage the demand using your functional currency, project currency, or a local currency. For more information, see Multicurrency in Demand Management.

    Projects in Project Workspace

    Track your projects in project currency in the Project Workspace. Create and monitor the cost plans and benefit plans for a project in project currency. For more information on project workspace, see Project Workspace.

    To view the cost component in project currency at the grid level and at the breakdown level, see Create and manage cost plans and benefit plans for a project.

    Project status reports

    To view the planned and actual cost status of your projects in project currency, open the overview and cost sections of project status reports.