Oracle Projects comes with the following features:
 
* Defines projects and tasks (WBS) and enables the control of posting transactions to projects

* Cost and revenue budget entry and maintenance, tracks budget versions

* Records transactions in detail and tracks expenditures via Timecards, Expense Reports, Usages, Commitments, and Supplier Invoices; Interfaces these transactions between Oracle Applications

* Allocation functionality from costs within the Projects application (input/output) or General Ledger accounts (input)

* Capital project maintenance, CIP transactions, and the capability to interface assets to Oracle Assets

* Tracks customer contracts as Agreements, which are funded by projects
 
* Revenue and Invoice Generation with various methods, including Time and Materials, Cost Plus, and Percent Complete; fully integrated with the General Ledger (Revenue) and Accounts Receivable (Invoices) modules

* Multi-currency support for your customer invoices and expenditures

* Cross Charging, Inter Company, and Inter Project Billing

* Detailed audit trail when data is interfaced between Oracle Applications

* Reports cost and revenue