How to Parameterize Object repository in QTP?

In QTP 8.2, we can parameterize both the per-action OR and shared OR.

For Per-Action OR, we can parameterize in both the global sheet and local action sheets.

To do this, we can select the object in OR, and choose parameter radio button in configure value dialog, and choose global or current action sheet in parameter options.

If the OR is shared OR, here only global sheet option is visible and current action sheet is disabled.

To parameterize the OR follow below navigation:
Open the OR by Tools -> OR or OR button -> Select the object in OR or parent object -> Click parameter radio button -> click on the parameter options button beside the textbox ->select data table in parameter type list box -> choose the data sheet type and choose column name in the sheet