Explanation/Reference:
Explanation:
Note:
*Project Type
The project type determines how Oracle Projects processes costs (expenditure items) for a project. The type you choose provides many defaults and controls for project entry and processing. You must choose a type from one of the following project type classes:
/Use an Indirect project type to collect and track expenditure item costs and labor hours for overhead activities, such as administrative and overhead work, marketing, and bid & proposal preparation. You can also define indirect projects to track time off including sick leave, vacation, and holidays
/Use a Capital project type to collect and track costs and labor hours for asset development activities which you plan to capitalize as one or more assets.
/Use a Contract project type to collect and track costs, labor hours, revenue, and billing for services performed for and reimbursed by a client