Engagement Type field in Oracle cloud fusion project management for consulting companies

Our consulting client is looking for an engagement type field to track its revenue based on the different level of engagement. But there is no field available in Oracle cloud fusion PPM to store the engagement type information. We are looking for a recommendation on what will be the best industry practice to store the engagement type information. We have explored the following options in Oracle:

Option 1: To create a new project type to store this information

Option 2: To create DFF at the contract level

Option 3: To use work type field to store this information without disrupting our existing project type information