What is basic date in SAP PS - Project System?

SAP Term: basic date

• Component: PS

• Component Name: Project System

• Description: The dates in the project that make up the binding basis for time scheduling in WBS elements and activities.

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• Key Concepts: 
  Basic date is a term used in the SAP Project System (PS) component. It is a date that is used to define the start and end of a project. It is also used to determine the duration of a project and to calculate the planned costs. 
  
  How to use it: 
  The basic date is set when creating a project in the SAP system. It can be changed at any time during the project's life cycle. The basic date is used to calculate the planned costs, duration, and other important information related to the project. 
  
  Tips & Tricks: 
  When setting the basic date for a project, it is important to consider the timeline of the project and any external factors that may affect it. This will help ensure that the project is completed on time and within budget. 
  
  Related Information: 
  The basic date is closely related to other important dates in a project such as the start date, end date, and completion date. It is also related to other components of SAP such as Materials Management (MM) and Financial Accounting (FI).