Error while converting planned order to process order

error-screen-shot.jpgHi

Please help me to resolve below issue-

The existing issue is in S4 HANA Release 1610. While converting planned order to process order, the system shows the error as enclosed.

Error - Production Version required - Planned Order xxx will not be converted.

PV has been defined for material and necessity config. also has been done for BOM explosion.

Please let me know if I have missed any configuration setting.