Plan and prepare for Dynamics 365 Project Operations in 2023 release wave 2

Important

The 2023 release wave 2 plan covers all new functionalities planned to be delivered to market from October 2023 to March 2024. In this article, you'll find the product overview and what's new and planned for Dynamics 365 Project Operations.

Overview

In one application, Dynamics 365 Project Operations connects your sales, resourcing, project management, and finance teams so they can win more deals, accelerate delivery, empower employees, and maximize profitability. The application provides the necessary visibility, collaboration, and agility across the project lifecycle to drive success for project-centric businesses. Powered by Microsoft Power Platform, customers are provided with an unmatched set of capabilities that enable everyone to analyze, act, and automate across their organization to transform their services business from the ground up. It's everything you need to run your project operations, from deal management to financials, all in one application.

For 2023 release wave 2, we're delivering functionally rich experiences in the following areas:

• Increase WBS task limits to 1000.
• Improvements in pricing for labor using cost-plus and contribution-margin-based models.
• Copy quote, contract, and opportunities across Legal Entities
• Improvements to project budgeting to support revenue forecasting and summarization options when importing from estimates.
• Progress-based billing projects.
• Subcontracting to Purchase Order integration that will light up vendor retention and Pay-when-paid functionality.
• Support for prospects on quotes.
• Support for intercompany vendor invoice.
• Integration of Print management for billing schedules using "Post invoice automatically.
• Improvements in usability and performance in specific areas across Project Operations.
• Investments in generative AI to help with core operational workflows like time and expense entry creation and submission.

Updates to Dynamics 365 Project Operations 2023 release wave 2

Investment areas

Optimize project operations
In one application, Dynamics 365 Project Operations connects your sales, resourcing, project management, and finance teams so they can win more deals, accelerate delivery, empower employees, and maximize profitability. In 2023 release wave 2, Project Operations continues to invest in capabilities to improve usability, performance, and scale across critical areas of the product like project planning, invoicing, time entry, and core transaction processing flows.

The core functionality is getting the spotlight with enhancements to service procurement scenarios with integration to Purchase Order, support for vendor retention, pay-when-paid, intercompany vendor invoices, and 3-way vendor invoice match functionality in Dynamics 365 Finance. Project contracting and pricing models will see new scenarios enabled with progress-based billing and contracting models, cost-plus and contribution-based pricing models. Intelligent resource recommendations will make project staffing easier by providing resource suggestions using experience and a multidimensional prioritization of criteria like costs, utilization, skill match, and availability.

To learn more about the entire set of capabilities being delivered during this release wave, check out the release plan for Dynamics 365 Project Operations below:

Check out the release plan

For application administrators

User-impacting features to the user experience enabled automatically
User-impacting features should be reviewed by application administrators. This facilitates release change management and enables successful onboarding of new capabilities released to market. For the complete list, look for all features tagged "Users, automatically" in the release plan.

Features that must be enabled by application administrators
This release wave contains features that must be enabled or configured by administrators, makers, or business analysts to be available for their users. For the complete list, look for all features tagged "Users by admins, makers, or analysts" in the release plan.

Get the most out of Project Operations

Helpful links	Description
Release plan	View all capabilities included in the release.
Product updates	Stay up to date on latest product updates.
Release calendar	Know important release milestones.
Licensing	Improve your understanding of how to license Project Operations.
Product documentation	Find documentation for Project Operations.
User community	Engage with Project Operations experts and peers in the community.
Upcoming events	Find and register for in-person and online events.
Product trials	Get started with Project Operations.