The project type controls how Oracle Projects creates and processes projects, and is a primary classification for the projects your business manages. You must set up at least one project type to create projects in Oracle Projects.
Name: The name of the project type.
Class: The project type class (Indirect, Capital, or Contract) for the project type. Note: You can define contract projects only if you have installed Oracle Project Billing.
Effective: The date range within which the project is valid