Yes. By Archiving a PIs collection, you can keep the PI active but it will no longer show as requiring an update. Triggers will also not be sent out to Users. Values for the PI can still be added, removed and edited.
How to set up for new PI's
When creating a new PI, after you have given the new PI a code and Title, you will be brought to a settings menu. From there select the 'collection settings' tab to be brought to the screen below:
To configure the PI so that it is not due to an update you must select the 'Not collected' option of the source.
How to set up for existing PI's
To turn an existing PI into one that is not due for an update you will need to head into the settings menu below.
From there you can follow the steps previously laid out in the section for new PI's