What is classification hierarchy in SAP PPM-PFM - Portfolio Management?

SAP Term: classification hierarchy

• Component: PPM-PFM

• Component Name: Portfolio Management

• Description: An arrangement of buckets within a portfolio structure that is an alternative to the standard portfolio hierarchy.

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• Key Concepts: 
  Classification hierarchy is a feature of SAP Portfolio and Project Management (PPM-PFM) that allows users to organize their projects into categories. It is a hierarchical structure that can be used to group projects into different levels, such as by region, industry, or type of project. This allows users to quickly and easily find the projects they are looking for.
  
  How to use it: 
  To use the classification hierarchy, users must first create a hierarchy structure. This can be done by selecting the “Create Hierarchy” option in the PPM-PFM Portfolio Management menu. Once the hierarchy is created, users can then assign projects to the different levels of the hierarchy. This can be done by selecting the “Assign Projects” option in the PPM-PFM Portfolio Management menu.
  
  Tips & Tricks: 
  When creating a classification hierarchy, it is important to consider how it will be used. Think about what types of projects will be assigned to each level and how they will be organized. This will help ensure that the hierarchy is easy to use and understand.
  
  Related Information: 
  For more information on using classification hierarchies in SAP Portfolio and Project Management (PPM-PFM), please refer to the official SAP documentation.