What is project type in SAP PS - Project System?

SAP Term: project type

• Component: PS

• Component Name: Project System

• Description: An object that groups projects according to criteria, for example: Capital-investment projects Customer projects Development projects

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• Key Concepts: 
  Project type is a classification of projects in the SAP Project System (PS) component. It is used to group similar projects together and to assign them the same characteristics, such as cost planning, budgeting, and scheduling. Project types are defined in the system and can be customized to meet specific needs. 
  
  How to use it: 
  When creating a project in the PS component, the user must select a project type. This will determine the characteristics of the project, such as cost planning, budgeting, and scheduling. The user can also customize the project type to meet specific needs. 
  
  Tips & Tricks: 
  When selecting a project type, it is important to consider the characteristics of the project and how they will affect cost planning, budgeting, and scheduling. It is also important to consider any customization that may be needed for the project type. 
  
  Related Information: 
  For more information on project types in SAP PS, please refer to the SAP Help Portal or contact your local SAP support team.