What is lifecycle period in SAP PLM-PLC - Product Lifecycle Costing?

SAP Term: lifecycle period

• Component: PLM-PLC

• Component Name: Product Lifecycle Costing

• Description: A period of time defined within the lifecycle of a project, for example, a year.

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• Key Concepts: 
  Lifecycle period is a term used in SAP Product Lifecycle Costing (PLM-PLC). It is a period of time during which the costs associated with a product are tracked and monitored. This period can be as short as one month or as long as the entire product lifecycle. During this period, all costs associated with the product are tracked and monitored, including production costs, marketing costs, and other expenses.
  
  How to use it: 
  In SAP Product Lifecycle Costing (PLM-PLC), lifecycle periods are used to track and monitor the costs associated with a product. The lifecycle period can be set up in the system by entering the start and end dates of the period. Once the lifecycle period is set up, all costs associated with the product during that period will be tracked and monitored.
  
  Tips & Tricks: 
  When setting up a lifecycle period in SAP Product Lifecycle Costing (PLM-PLC), it is important to ensure that the start and end dates of the period are accurate. This will ensure that all costs associated with the product during that period are accurately tracked and monitored.
  
  Related Information: 
  In SAP Product Lifecycle Costing (PLM-PLC), lifecycle periods can be used in conjunction with other features such as cost centers, cost objects, and cost elements to provide a comprehensive view of the costs associated with a product. Additionally, lifecycle periods can be used to compare different products over time to identify areas of improvement or cost savings.