Partitioning Question

Hi

The following table in 11gr2 has more than 388 million rows,which is not partitioned and i'm looking to get it partitioned,

what are the factors  to be considered before partitioning, i'm thinking to do range partition on the ASOF_FISCAL_YEAR, although business logic will be determined by BA's,

DB is licensed to use partitioning, how to go about partitioning on this table?

ASOF_FISCAL_YEAR                          NOT NULL NUMBER(38)

ASOF_PERIOD                               NOT NULL NUMBER(38)

BUSINESS_UNIT                             NOT NULL VARCHAR2(5 CHAR)

BL_RPT_TYPE                               NOT NULL VARCHAR2(4 CHAR)

PROJECT_ID                                NOT NULL VARCHAR2(15 CHAR)

ACTIVITY_ID                               NOT NULL VARCHAR2(15 CHAR)