What is phase type in SAP PPM-PFM - Portfolio Management?

SAP Term: phase type

• Component: PPM-PFM

• Component Name: Portfolio Management

• Description: A classification that specifies the purpose of the phase.

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• Key Concepts: 
  Phase type is a term used in SAP Portfolio and Project Management (PPM-PFM) to refer to the different stages of a project. It is used to define the sequence of activities that need to be completed in order to achieve the desired outcome. Each phase type has its own set of tasks and activities that need to be completed in order for the project to move forward. 
  
  How to use it: 
  Phase types are used to define the sequence of activities that need to be completed in order for a project to move forward. They are typically used in conjunction with other components such as milestones, tasks, and resources. When creating a project, users can assign different phase types to each task or activity in order to define the sequence of activities that need to be completed. 
  
  Tips & Tricks: 
  When creating a project, it is important to consider the different phase types and how they will affect the overall timeline of the project. It is also important to consider how each phase type will affect the resources needed for each task or activity. Additionally, it is important to consider how each phase type will affect the budget and timeline of the project. 
  
  Related Information: 
  Phase types are closely related to other components such as milestones, tasks, and resources. Additionally, they are closely related to budgeting and timeline management. Understanding how these components interact with each other is essential for successful project management.