Develop Job Code (Project) Hierarchy - 3 Additional Levels
Especially for Consulting / Contracting, it would be very helpful to have three levels of hierarchy for "Job Code" (which to us is really a Project). Within a Project, develop the ability to track hours by Phase, Sub Phase, and Activity. A managed list would work best for each of these three levels. Make these levels available for selection everywhere Job Code is used, but especially on the Invoice, as that is the primary report used to submit hours and costs by individual to the client. (and it is here that custom fields do not meet the requirement.)
Manuel Banda commented
You can do this already.
When you have a project, click under the plus green sign and then add a sublevel. Just duplicate and rename and you can have as many sublevels as you need on the project.