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What's your OS and available RAM. This error is often misleading analyze, and may indicates there's not enough memory on the host.
It also seems the parallel query is used making a need of huge amount of memory, what's the CPU_COUNT parameter's value ? How many CPUs are on the host ?
If that is "too high", it will create many parallel queries raising that error, you could first try to low down that parameter's value (alter system set cpu_count=xyz).
user3344498 wrote:By the way, that is not a certified combination.
...11gr2 database that uses Peoplesoft Tools 8.48 /9.0?
The highest Oracle version certified on PT8.48 is Oracle 11.1.
The minimum PT version certified within Oracle 11.2 is PT8.49.24.