POLICY
A document that specifies who can access which resources, and how. Access is granted at the group and compartment level, which means you can write a policy that gives a group a specific type of access within a specific compartment, or to the tenancy itself. If you give a group access to the tenancy, the group automatically gets the same type of access to all the compartments inside the tenancy. For more information, see Example Scenario and How Policies Work. The word "policy" is used by people in different ways: to mean an individual statement written in the policy language; to mean a collection of statements in a single, named "policy" document (which has an Oracle Cloud ID (OCID) assigned to it); and to mean the overall body of policies your organization uses to control access to resources.
https://docs.oracle.com/en-us/iaas/Content/Identity/Concepts/overview.htm