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NEW QUESTION # 15
Your customer wants to automatically allocate unassigned asset lines and common costs across multiple assets based on the construction-in-process cost of each asset. Identify the asset allocation method that you must use as the default method while configuring project types to meet this requirement. (Choose the best answer.)
- A. Actual Unit
- B. Estimated Cost
- C. Standard Unit Cost
- D. Spread Evenly
- E. Current Cost
Answer: E
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapfm/project-foundation-configuration-manage-project-types.html#OAPFM220111 Topic - Asset Cost Allocation Methods: Explained The asset cost allocation method determines how indirect or common costs incurred on a project are allocated to multiple assets.
You can specify an asset cost allocation method to enable Oracle Fusion Project Costing to automatically allocate unassigned asset lines and common costs across multiple assets. Unassigned asset lines typically occur when more than one asset is assigned to an asset grouping level.
Projects and project templates inherit a default asset cost allocation method from the associated project type. You can override the default at the project level. If you use capital events to allocate costs, then you can also override the asset cost allocation method at the event level.
The following table describes the available asset cost allocation methods.
Method
Basis of Cost Allocation
Actual Units
Number of units defined for each asset
Current Cost
Construction-in-process (CIP) cost of each asset
Estimated Cost
Estimated cost of each asset
Standard Unit Cost
Combination of the standard unit cost and the number of units defined for each asset Spread Evenly Equal allocation of cost to each asset
NEW QUESTION # 16
Which component provides a human workflow service that handles all interactions with users or groups in business processes?
- A. BPM Worklist
- B. Subledger Accounting
- C. SOA Suite
- D. Security Console
Answer: C
NEW QUESTION # 17
Which three setups can be configured by using Rapid Implementation for Project Financial Management Applications?
- A. Departments
- B. Project Templates
- C. Project Types
- D. Expenditure Types
Answer: A,C,D
NEW QUESTION # 18
Identify the valid approval group type applicable to Oracle Project Financial Management Cloud. (Choose the best answer.)
- A. Static
- B. Dynamic
- C. Job
- D. Flexfield
- E. Position
Answer: A
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/applications-common/19b/facia/define-approval-management.html#FACIA3124477 Topic Approval Groups Each approval group includes a set of users that you configure to act on tasks in a certain pattern. Tasks can be defined to get routed to an approval group instead of an individual user. You can nest approval groups within approval groups.
You have two options for defining the group:
Static: Select the specific users to include in the group.
Dynamic: Provide the logic to use to determine the users in the group.
NEW QUESTION # 19
You are managing a project based on a Waterfall model. You define a project and a project plan in Oracle Project Management with tasks and subtasks applicable to each of the phases of the project: Initiation, Discovery, Design, Build, Test, and Deploy. As a project manager, you want to define deliverables for your project requirements that are elucidated during the Discovery phase of your project. You now want to understand how the inheritance between requirements, tasks, and deliverables works.
Which two are correct statements in this scenario? (Choose two.)
- A. A deliverable associated with a requirement is automatically associated with the tasks created for that requirement.
- B. You associate a deliverable with a task independent of associating a requirement with a task.
- C. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.
- D. The association of a deliverable with a task is dependent on associating a requirement with a task.
Answer: C,D
NEW QUESTION # 20
In a Project Draft Invoice preview, quantity (hours) and unit price (bill rate) are shown as fields on the invoice. Quantity and unit price are then used to calculate the line total, then the total price of the invoice. After the invoice is transferred or created in Receivables, the invoice detail has a quantity of 1, and a unit price equal to the line total. The detailed Unit Price/Quantity does not come through on the Receivables invoice.
Identify the correct statement about details in the receivables invoice. (Choose the best answer.)
- A. The project sends only the invoice header to Receivables, not the invoice line description and distributions.
- B. The project sends the invoice line description and the invoice distributions to Receivables, but not the invoice header.
- C. The project sends only the invoice header and invoice line description to Receivables, not the invoice distributions.
- D. The project sends the invoice header, invoice line description, and the invoice distributions to Receivables.
Answer: C
Explanation:
When a project invoice is transferred or created in Receivables, the project sends only the invoice header and invoice line description to Receivables, not the invoice distributions. The invoice distributions contain the detailed information such as quantity, unit price, and line total. Therefore, the Receivables invoice does not show these details, but only shows a quantity of 1 and a unit price equal to the line total. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-invoices.html#OAPFM2355931
NEW QUESTION # 21
Your client is involved in automation control systems installation. Over the years, they have analyzed their total project spend on specific resource classes. They have identified that their cost spread distribution factor on a 10 spread point scale resembles:
0-4-10-11-14-13-10-4-0-0. Identify two ways to handle this kind of a spread on their budgets and forecasts. (Choose two)
- A. Create a new spread curve or edit an existing spread curve to exactly match the spread points and attach to the resource class.
- B. Create a new spread curve or edit an existing spread curve to exactly match the spread points and attach to a project template.
- C. Use the predefined Bell Curve spread with small deviations on the spread points.
- D. Use the predefined S-Curve spread with small deviations on the spread points.
Answer: A,B
Explanation:
To handle a custom spread on budgets and forecasts, you can either create a new spread curve or edit an existing one to match the desired spread points. Then, you can attach the spread curve to a project template or a resource class, depending on whether you want to apply it to all projects using that template or all transactions using that resource class. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/define-project-budgets-and-forecasts.html#OAPFM2355819
NEW QUESTION # 22
Your client organization has recently undergone a restructuring exercise that has resulted in the creation of new jobs. The Resource Breakdown Structure (RBS) was previously created with existing jobs, and now the new jobs have been added to the existing Resource Breakdown Structure.
Identify the correct statement about the RBS and new resources. (Choose the best answer.)
- A. If the "Allow resource changes at project level" option is set to No for the RBS, then the resources added to the Planning Resource Breakdown Structure are automatically available for use on the projects.
- B. If the "Allow resource changes at project level" option is set to No, the new resources and resource formats that are added to a Planning Resource Breakdown Structure for one project are not available for other projects.
- C. If the "Allow resource changes at project level" option is enabled for the RBS, the new resources added at project level are automatically reflected in the RBS.
- D. If the "Allow resource changes at project level" option is set to Yes for the RBS, the new resources are available automatically at project level.
Answer: A
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/fapfm/implementing-project-financial-management-applications.html#FAPFM969761 Topic - Entering Planning Resource Breakdown Structure Details Click Navigator > Setup and Maintenance, and search for the Manage Planning and Billing Resource Breakdown Structures task.
Click the Manage Planning and Billing Resource Breakdown Structures link.
Use the Manage Planning and Billing Resource Breakdown Structures page to create new planning resource breakdown structures and to review existing planning and billing resource breakdown structures.
Click the Create icon in the Planning Resource Breakdown Structures section.
Use the Create Planning Resource Breakdown Structure: Basic Information page to provide basic resource breakdown structure information including the name, active dates, and project unit.
Enter a planning resource breakdown structure name and select a date from which the resource breakdown structure is available for use.
Optionally, provide a description and a date to which the planning resource breakdown structure is available for use.
Select a project unit. Only projects created for the selected project unit can use this planning resource breakdown structure.
If you want to allow project managers to add planning resources at the project level, then select the Allow resource changes at project level check box.
Tip: Changes at the project level don't move back to the parent planning resource breakdown structure. Deselect this option to ensure all project using the planning resource breakdown structure use the same resources.
Optionally, select a Job Set as a source of jobs for creating planning resources on your planning resource breakdown structure.
Click Save.
NEW QUESTION # 23
Your customer has separate organizations to maintain indirect, capital, and billing types of projects.
Identify the two setups that can be used to fulfill this requirement. (Choose two.)
- A. Project Organization Classification
- B. Business Unit
- C. Project Accounting Business Function
- D. Project Type
- E. Organization Tree
Answer: A,E
Explanation:
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/FAPFM/FAPFM1225328.htm
NEW QUESTION # 24
Which three setups can be configured by using Rapid Implementation for Project Financial Management Applications?
- A. Work Type
- B. Project Templates
- C. Project Class Categories
- D. Project Types
- E. Expenditure Types
Answer: A,D,E
NEW QUESTION # 25
Select two correct statements about project classifications on a template. (Choose two.)
- A. Project class category in a project classification must be associated with a Set Code.
- B. Project Classification is a mandatory field on a project template.
- C. When a project is created from a template, the required project classifications must be entered.
- D. Set Code is not required for a project class category in a project classification.
Answer: A,C
Explanation:
Project classifications are used to group and report on projects based on different criteria. A project template can have one or more project classifications, which can be either required or optional. When a project is created from a template, the required project classifications must be entered, while the optional ones can be left blank. A project class category in a project classification must be associated with a set code, which determines the list of values for the project class. Project classification is not a mandatory field on a project template, but it is recommended to use it for reporting purposes. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-plans.html#OAPFM2355961
NEW QUESTION # 26
Your business user has created a purchase order (PO) that has the following attributes:
Accrue at Receipt = Yes
Matching Option = 2 way
Receipt Close Tolerance = 100%
After approval, the PO is closed for receiving without creating a receipt. An AP invoice is created by matching to the PO. The user now runs Create Accounting for Receiving Transactions and then the "Import and Process Cost transactions" ESS (Enterprise Scheduler Service) job using the Transaction Source parameter as "Oracle Payables". The user notices that there is no cost transferred to the projects. Identify two reasons for this problem. (Choose two.)
- A. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to Yes, cost is transferred to projects only if there are accounted receipt lines.
- B. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to Yes, cost is transferred to project by payables.
- C. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to YES, cost is transferred to projects by Cost Management and not by Payables.
- D. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to NO, cost is transferred to projects by receipt accounting.
Answer: A,C
Explanation:
When the Accrue at Receipt option is set to Yes on a PO, the cost of the items or services is accrued when they are received, not when they are invoiced. Therefore, the cost is transferred to projects by Cost Management and not by Payables. However, if the PO is closed for receiving without creating a receipt, there will be no accounted receipt lines and no cost will be transferred to projects. To transfer the cost to projects, you need to either create a receipt or reopen the PO for receiving. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2355855
NEW QUESTION # 27
Your organization has a requirement to retrieve the value of the cost center segment based on the department.
Which source can you use while defining the account rule to achieve this requirement?
- A. Event Organization Cost Center Segment
- B. Expenditure Business Unit Cost Center Segment
- C. Project Organization Cost Center Segment
- D. Expenditure Organization Cost Center Segment
Answer: D
Explanation:
The source that can be used while defining the account rule to achieve this requirement is Expenditure Organization Cost Center Segment. This source allows you to retrieve the value of the cost center segment based on the expenditure organization of the transaction. The expenditure organization is an attribute of a transaction that represents the organization that incurs or owns the cost of the transaction.
NEW QUESTION # 28
Stigma Consulting wants to implement the program management capability to coordinate and track their strategic programs.
Which three components are required to configure the program options as part of implementing the program management capability? (Choose three.)
- A. Calculation Methods
- B. Accounting Methods
- C. Calendar
- D. Derivation Methods
- E. Currencies
Answer: B,C,D
NEW QUESTION # 29
You have been hired as a project manager for implementing the Project Financial Management and Project Execution Management offering by an organization. The Chief Information Officer of the deploying organization has requested you to explain the benefits of using the implementation project-based approach over the functional area-based approach.
Which two are the main benefits of using the implementation projects within Functional Setup Manager? (Choose two.)
- A. Implementation Project helps you to use the manage setup data entry in bulk option.
- B. Implementation Project gives you the flexibility to set up different functional areas of the offering at different times.
- C. Implementation Project helps you to monitor progress of the setup tasks.
- D. Implementation Project helps in assigning responsibility of managing setup data to a broad group of users.
Answer: A,B
NEW QUESTION # 30
Your organization has been using project class categories and codes for reporting purposes and is set up at the project level. You recently defined a new project type, Capital-Contract, and created new class categories named Build, Operate, and Transfer (BOT) and Build, Transfer, and Maintain (BTM), with class codes of Yes/No. But on creation of a project, you are unable to associate these class categories and codes.
Identify two setups that are mandatory for these class categories and codes to be displayed. (Choose two.)
- A. Class categories should be assigned to project type.
- B. Class codes should be associated with a related set code.
- C. Class codes should be assigned to project unit.
- D. Class categories should be assigned to business unit.
Answer: A,B
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapfm/project-foundation-configuration-manage-project-types.html#OAPFM360164 Topic - Associating Project Types and Class Categories: Examples Project classifications group your projects according to categories and codes that you define. When you associate project classifications with project types, the classification is available for selection on projects with that project type.
Use any of the following methods to associate class categories with project types:
Add a classification to the project type definition
For each classification that you associate with the project type, you can enable the Assign to All Projects option to automatically add the classification to the project definition for all new projects with the project type. When this option is enabled, all projects with this project type must be assigned a class code for the class category.
Add a project type to the class category definition
Enable the Assign to all Project Types option on the class category definition
NEW QUESTION # 31
You are implementing Project Portfolio Management (PPM) for a professional services firm. The firm rents multiple buildings for its operations. At the end of each month, they review the rent expense for the month and want to allocate the rental cost to all the projects and tasks that are executed by associates in each of the buildings. The source amounts must be proportionally allocated to the tasks based on the raw costs of the tasks from the previous month. Considering that all these costs are in General Ledger, what three allocation setups should you complete in PPM? (Choose three.)
- A. Define allocation basis by using Actual Amounts with a project-to-date amount class.
- B. Allocate rental costs once each accounting period by using the "full" allocation method.
- C. Allocate to all eligible tasks and prorate the allocation by the total actual raw cost accrued for each task during the previous accounting period.
- D. Define allocation basis by using Actual Amounts with a period-to-date amount class.
- E. Allocate rental costs once each accounting period by using the "spread evenly" allocation method.
Answer: B,C,D
Explanation:
To allocate the rental cost to the projects and tasks based on the raw costs of the tasks from the previous month, you need to do the following:
Allocate rental costs once each accounting period by using the "full" allocation method. This method allocates the entire source amount to the target tasks in one run.
Allocate to all eligible tasks and prorate the allocation by the total actual raw cost accrued for each task during the previous accounting period. This ensures that the source amount is proportionally allocated to the tasks based on their relative raw costs.
Define allocation basis by using Actual Amounts with a period-to-date amount class. This allows you to use the actual raw costs of the tasks as the basis for allocation and to use the amounts from the previous accounting period. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2355951
NEW QUESTION # 32
A consulting services company is currently working on a business transformation project for your client, which spans multiple years. At the first period close, the consulting services company has recognized revenue and the accounting entry created is:
Dr Unbilled Receivables 40,000
Cr Revenue 40,000
At the end of the period, the client is sent an associated bill. What would be the corresponding invoice accounting entry? (Choose the best answer.)
- A. Dr Accounts Receivables 40,000Cr Unbilled Receivables 40,000
- B. Dr Unearned Revenue 40,000Cr Revenue 40,000
- C. Dr Unearned Revenue 40,000Cr Accounts Receivables 40,000
- D. Dr Accounts Receivables 40,000Cr Revenue 40,000
Answer: A
Explanation:
When the invoice is created, the unbilled receivables balance is reduced and the accounts receivables balance is increased by the invoice amount. This is because the revenue has already been recognized and the invoice is just a request for payment from the customer. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/project-accounting.html#OAPFM2355710
NEW QUESTION # 33
Which four standard objects can you configure to include business specific attributes by using Application Composer for Project Execution Management? (Choose four.)
- A. Project Resource Assignment
- B. Project Gates
- C. Project Deliverables
- D. Project Milestones
- E. Project Issues
- F. Project Resource Request
Answer: B,C,D,E
Explanation:
Application Composer is a tool that allows you to configure standard objects or create custom objects to include business specific attributes for Project Execution Management. Four of the standard objects that you can configure using Application Composer are:
Project Gates: These are checkpoints that mark the completion of a phase or stage in a project lifecycle.
Project Issues: These are problems or risks that affect the progress or outcome of a project.
Project Milestones: These are significant events or achievements that indicate the status or completion of a project or task.
Project Deliverables: These are products or services that are produced or provided as part of a project or task. Project Resource Request and Project Resource Assignment are not standard objects that you can configure using Application Composer. These are features that allow you to request and assign resources for projects and tasks based on various criteria such as availability, qualifications, preferences, etc. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-execution.html#OAPFM2356201
NEW QUESTION # 34
You cannot generate invoices for a project expenditure item. After running the Generate Invoices program for a billable expenditure item and active contract, the process completes successfully but without any billing, and does not provide any error logs.
The program's processing summary is as follows:
Billing Event Errors 0
Ineligible Contracts 0
Successfully Billing Events Created 0
Ineligible Contract Lines 0
Billing Transaction Exception Errors 0
Ineligible Bill Plans 0
Billing Transaction Exception Warnings 0
Ineligible Associated Projects 0
Successful Billing Transactions 0
Ineligible Expenditure Items 0
Draft Invoice Exception Errors 0
Ineligible Events 0
Draft Invoice Exception Warnings 0
Successful Draft Invoices 0
What was the invoice method classification set to that caused this behavior? (Choose the best answer.)
- A. Amount Based
- B. As Incurred
- C. Percent Complete
- D. Rate Based
Answer: A
Explanation:
Reference https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJB/F1087458AN139C2.htm Topic - Invoice and Revenue Rates: How They Are Determined Oracle Fusion Project Billing uses bill rates, burdening, and transfer price schedules to derive standard bill rates, multipliers, markups, and bases for calculating potential revenue when the revenue method classification on a revenue plan is as billed, as incurred, or rate based. Similarly, bill rates derive invoice amounts when the invoice method classification on a bill plan is rate based.
NEW QUESTION # 35
When setting up capitalization options on a project type, you have decided to enable the Require Complete Asset Definition option. If this option is enabled, the "Transfer Assets to Oracle Fusion Assets" process will place asset lines with complete definition into which queue in Oracle Fusion Assets?
- A. New
- B. Hold
- C. Post
- D. Posted
Answer: B
Explanation:
If the Require Complete Asset Definition option is enabled on a project type, the "Transfer Assets to Oracle Fusion Assets" process will place asset lines with complete definition into the Hold queue in Oracle Fusion Assets. This queue holds the asset lines that require manual review and approval before they can be posted to the asset register. Asset lines with incomplete definition will be placed into the Error queue in Oracle Fusion Assets. This queue holds the asset lines that have errors or missing information that need to be corrected before they can be transferred to the Hold queue. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-assets.html#OAPFM2356041
NEW QUESTION # 36
You are set up as a Follower in Manage Tasks. Which two abilities can you accomplish? (Choose two.)
- A. Enter progress for tasks.
- B. Edit task details.
- C. Receive email notifications about changes that team members make to a task.
- D. View task details and the task activity stream.
Answer: C,D
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapem/execute-project-tasks-and-deliverables.html#OAPEM1122082 Followers are persons who aren't working on the task but have an interest in reviewing the task progress. Only the resources and other followers can add followers to a task. If a resource assigns the task to another team member, the application automatically changes the original resource to a follower.
What's the difference between my tasks and tasks that I follow?
You can edit task details and enter progress for your tasks on the Manage Tasks page. If a task has multiple resources, only the primary resource can edit the task.
When you follow a task, you can view the task details and see the task activity stream. You receive e-mail notifications of changes that team members make to the task.
If a resource reassigns the task to another team member, then the previous resource automatically becomes a follower.
NEW QUESTION # 37
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Oracle 1z0-1057-22 certification exam is designed for professionals who wish to demonstrate their skills in implementing Oracle Project Management Cloud 2022 solutions. Oracle Project Management Cloud 2022 Implementation Professional certification exam is intended for professionals who have experience in implementing Oracle Cloud solutions and are looking to specialize in project management. 1z0-1057-22 exam aims to test the candidate's knowledge and skills in implementing project management solutions, managing project schedules and budgets, and analyzing project performance.
Achieving the Oracle 1z0-1057-22 certification demonstrates that a professional has the knowledge and skills to implement Oracle Project Management Cloud solutions effectively. Oracle Project Management Cloud 2022 Implementation Professional certification provides a competitive edge to professionals in today's job market, as it signifies their expertise in using Oracle's cloud-based project management solutions. It also establishes a professional's credibility and demonstrates their commitment to continuous learning and development. Overall, the Oracle 1z0-1057-22 certification is an excellent choice for professionals seeking to enhance their skills and advance their careers in project management.
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