In my role as Co-Chair of OAUG's Fusion Council, I'm often asked about Oracle's plan for building Fusion Applications: what is the plan and what is the current project status? Oracle gave us some great information in this regard during and immediately after Oracle OpenWorld.
Oracle's Pat Krebs and Joe Gum, partnering with IDS Sheer's Olaf Geyer, gave a presentation at OpenWorld titled "Oracle Fusion Business Process Models". You can download the slides from the presentation by searching for Session ID S282318 here. The best overall presentation I've seen of the Fusion Apps development roadmap came during this presentation:
Although you may have to squint a bit due to Blogger's limitations in delivering images within blog text, the extra effort will be worth it. This visual ties Lifecycle Stages (Strategy, Release Planning, etc.) with application product management phases (Functional & Market Assessment, Product Scope, Requirements Analysis, etc.) and classic deliverables (Business Requirements Doc, Functional Design, Technical Design, etc.). It also does a fine job of segregating iterative product development (the "Oracle" portion) from application implementation and support (the "Customers and Partners" portion)...although I'm very sure Oracle will be very active in offering services for applications implementation, user training, and application management (the product development phases found in the "Customers and Partners" section of the visual).
After seeing this picture, you're likely asking yourself "just what the heck is BPM Level whatever?" BPM is "Business Process Model". The levels are best explained by the following picture (taken from the same presentation; prepare for more squinting):
So, how far has Oracle progressed in creating Fusion Applications? The last status report I heard, which was in early November, indicated that the BRDs were almost wrapped up. Considering that news in light of the first visual, it seems to me that there is a challenging amount of work to be done in a short period of time to support a 2008 release...not impossible, just challenging. I'll update you as soon as I have more recent information.