What is project version in SAP PS - Project System?

SAP Term: project version

• Component: PS

• Component Name: Project System

• Description: The status of a project at a particular time or in a particular action. Project versions: Form the basis of statistical analyses, for example, in earned value analysis Provide information on the state of the project in the past Are useful for comparison Project versions can be regarded as "snapshots" of a project. Unlike simulation versions, you cannot change project versions.

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• Key Concepts: 
  Project version is a feature of the SAP Project System (PS) component that allows users to create multiple versions of a project. This allows users to compare different versions of the same project and make changes as needed. It also helps users keep track of the progress of a project over time. 
  
  How to use it: 
  To create a project version, users must first create a project in the PS component. Once the project is created, users can then create multiple versions of the same project. To do this, users must select the “Create Version” option from the menu. This will open up a window where users can enter the details of the new version, such as its name and description. Once all the details are entered, users can save the new version and it will be added to the list of versions for that project. 
  
  Tips & Tricks: 
  When creating a new version, it is important to give it a descriptive name so that it is easy to identify later on. It is also important to keep track of which version is currently active so that any changes made are applied to the correct version. 
  
  Related Information: 
  For more information on using project versions in SAP PS, please refer to SAP Help documentation or contact your local SAP support team.