What is award type in SAP PSM-GM - Grants Management?

SAP Term: award type

• Component: PSM-GM

• Component Name: Grants Management

• Description: User-defined list of codes, used mainly for reporting in .

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• Key Concepts: 
  Award type is a classification of grants in the Grants Management (GM) component of SAP Project System and Materials (PSM). It is used to define the purpose of a grant and the associated rules and regulations. Award types are used to differentiate between different types of grants, such as research grants, training grants, and travel grants. 
  
  How to use it: 
  Award types are used to define the purpose of a grant and the associated rules and regulations. When creating a grant, users must select an award type from the list of available award types. This will determine the type of grant that is created and the associated rules and regulations that must be followed. 
  
  Tips & Tricks: 
  When creating a grant, it is important to select an appropriate award type. This will ensure that the grant is created correctly and that all associated rules and regulations are followed. It is also important to ensure that all required information is entered correctly when creating a grant. 
  
  Related Information: 
  For more information on award types in SAP PSM-GM Grants Management, please refer to the SAP Help documentation.