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

SAP Term: project phase

• Component: PPM-PFM

• Component Name: Portfolio Management

• Description: A stage of a project. You can specify project phases to suit your requirements. Examples of project phases for a pharmaceutical R&D organization are Discovery, Pre-Clinical I, Pre-Clinical II, and Clinical Trial.

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• Key Concepts: 
  Project phase is a term used in SAP Portfolio and Project Management (PPM-PFM) to refer to a stage of a project. It is a period of time during which specific tasks are completed in order to move the project forward. Each phase has its own set of objectives, tasks, and deliverables that must be completed before the project can move on to the next phase. 
  
  How to use it: 
  In SAP PPM-PFM, project phases are used to break down a project into manageable chunks. Each phase should have its own set of objectives, tasks, and deliverables that must be completed before the project can move on to the next phase. This helps ensure that all aspects of the project are addressed and that progress is tracked throughout the life of the project. 
  
  Tips & Tricks: 
  When creating a project plan, it is important to clearly define each phase and its associated tasks and deliverables. This will help ensure that all aspects of the project are addressed and that progress is tracked throughout the life of the project. Additionally, it is important to set realistic timelines for each phase so that the project can be completed on time and within budget. 
  
  Related Information: 
  For more information on SAP PPM-PFM Portfolio Management, please visit https://www.sap.com/products/portfolio-and-project-management.html