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Bulk update project organization

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We are trying to do a reorganization in Projects module and trying to update Project Organization using Manage Project and Task Organization.

Once the remapping in Manage Project and Task Organization is executed, under Project Financial Management> query project>Manage Financial Project Settings>General> Basic Information we are able to see the new Organization name.

But the old organization name is still showing under 'Project Unit' column in Project Financial Management> query project>Search results.

Could anyone please let know the difference between the Project unit and organization, and why we are not able to modify the Project Unit?

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