What is portfolio item status in SAP PPM-PFM - Portfolio Management?

SAP Term: portfolio item status

• Component: PPM-PFM

• Component Name: Portfolio Management

• Description: An indicator representing decisions made about a portfolio item. Example values of the portfolio item status are "Approved" and "Rejected".

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• Key Concepts: 
  Portfolio item status is a feature of SAP Portfolio and Project Management (PPM-PFM) that allows users to track the progress of their projects. It provides a visual representation of the current state of a project, allowing users to quickly identify any issues or delays. The status can be set manually or automatically based on certain criteria, such as budget, timeline, or resources.
  
  How to use it: 
  To use portfolio item status, users must first create a project in SAP PPM-PFM. Once the project is created, users can set the status of the project by selecting from a list of predefined statuses. The statuses can be customized to fit the needs of the user. Additionally, users can set up automatic triggers that will change the status of the project when certain criteria are met.
  
  Tips & Tricks: 
  When setting up portfolio item status, it is important to consider how it will be used. For example, if the goal is to track progress on a project, then it may be beneficial to set up automatic triggers that will change the status when certain criteria are met. Additionally, it is important to consider how often the status should be updated in order to ensure accuracy.
  
  Related Information: 
  For more information on portfolio item status in SAP PPM-PFM, please refer to the official documentation here: https://help.sap.com/viewer/product/PORTFOLIO_AND_PROJECT_MANAGEMENT/7.5/en-US