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What is the difference between project class categories, project codes and project DFF

Summary:

From Oracle's document, there seems to be several ways to store additional information on a project detail level:

Project class categories: which is tied to a project template via project type available on both PFM and PEM

Project codes: similar to DFF but only available on PEM

Project descriptive flexfield: typical custom fields available on both PFM and PEM

Would someone be able to explain what is the key difference between them, and whether there are situations where a particular type is recommended?

Thanks and Regards,

Alan

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