Oracle Project Management Cloud 2024 Implementation Professional Practice Tests 2025 | Pass 1z0-1057-24 with confidence!
Practice Project Financials Management Cloud 1z0-1057-24 exam. Online Exam Practice Tests with detailed explanations!
NEW QUESTION # 37
Your customer has the following setups on the project plan type that they are using for their projects:
Use Task Planned Dates as Task Assignment Dates = Yes
Automatically Roll Up Task Planned Dates = Yes
Synchronize Task Transaction Dates with Planned Dates = No
With these setups in place, you perform the following actions:
1. Create a new subtask (Sub Task 1) with a start date of 15-Jun-2016 on the project that has as start date of
01-Jul-2016.
2. Create another new subtask (Sub Task 2) after the previous action is saved.
What would the correct behavior of the application be after these actions? (Choose the best answer.)
- A. After the creation of Sub Task 1, Project Start Date would remain unchanged as 01-Jul-2016 and Sub Task 2 would be created with 15-Jun-2016.
- B. After the creation of Sub Task 1, Project Start Date would be changed to 15-Jun-2016 and Sub Task 2 would be created with 15-Jun-2016.
- C. After the creation and saving of Sub Task 1, Task Start Date would be changed to 01-Jul-2016 and Sub Task 2 would be created with 01-Jul-2016.
- D. Project Start Date would remain unchanged as 01-Jul-2016 for both actions but the start dates on both subtasks would remain 15-Jun-2016.
Answer: B
Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjf/manage-project-plan-tasks- and-task-assignments.html#OAPJF75076
NEW QUESTION # 38
Your customer wants to generate accounting based on project information associated with the transaction for all subledger transactions. Identify three subledger applications for which the project source is available for deriving accounts when configuring subledger accounting. (Choose three.)
- A. Purchasing
- B. Payables
- C. Receipt Accounting
- D. Fixed Asset
Answer: A,B,C
Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-costing- configuration-define-project-costing-integrations.html#OAPFM3094605 Topic - Deriving Projects-Related Accounts
NEW QUESTION # 39
While opening an organization tree on the Manage Organization Trees page, you notice that the hierarchy status is displayed as Inactive. Identify the two reasons for the organization tree to be in Inactive status. ( Choose two.)
- A. You opened the hierarchy by clicking the name.
- B. You usedCreate Treein the action menu.
- C. You selected theEdit iconfor opening the hierarchy.
- D. You used Create Tree Version in the action menu.
- E. You used View Tree Version in the action menu.
Answer: B,D
Explanation:
When you use Create Tree or Create Tree Version in the action menu, you create a new organization tree or a new version of an existing tree, respectively. These actions result in an Inactive status for the organization tree, until you activate it. When you use View Tree Version or select the Edit icon or click the name of the tree, you open an existing organization tree that has an Active status.Reference:https://docs.oracle.com/en
/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-organizations.html#OAPFM2355921
NEW QUESTION # 40
As part of maintaining (importing new employees that were added last week) project enterprise labor resources in your organization, you submit the Maintain Project Enterprise Labor Resources process to create and update resources based on changes In HCM. You define maintenance conditions on the Manage Project Enterprise Labor Resource page to process both employees and contingent workers.
Whichthreeare parameters that are based on which the system identifies the new resources?
- A. Organization
- B. Business Unit
- C. Jobs
- D. Department
- E. Project Unit
Answer: A,B,C
Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/fapfm/implementing-project- execution-management-applications.html#FAPFM1718570 Topic -Manage Maintenance Conditions for Project Enterprise Labor Resource
NEW QUESTION # 41
Whichthreeare true of what you can do in the Project Requirements work area?
- A. Create an implementation project.
- B. Manage your list ofbacklogitems.
- C. Create an execution project.
- D. Create project tasks forbacklogitems.
- E. Organizebacklogitems by requirements.
Answer: B,D,E
Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapem/manage-project- requirements.html#OAPEM874365 Project Requirements: Explained Requirements enable you to capture your business needs. If you manage projects using the Agile development methodology, you start by identifying the high-level requirements and decomposing them further to manage the completion of work on the requirement.
You use the Project Requirements work area to:
* Organizebacklogitems by requirements
* Manage your list ofbacklogitems
* Create project tasks forbacklogitems
NEW QUESTION # 42
Which two statements describe how the Resource Qualification Score is calculated?
- A. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource has the qualification with a proficiency that is lower or higher than specified.
- B. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource does not have the qualification.
- C. An individual's score is 100% if the resource request has a qualification, but no proficiency is specified, and the resource has the qualification.
- D. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource has the qualification that meets the specified proficiency.
Answer: C,D
Explanation:
The Resource Qualification Score is a percentage that indicates how well an individual matches the qualifications required for a resource request. An individual's score is 100% if either of the following conditions are met:
* The resource request has a qualification, but no proficiency is specified, and the resource has the qualification. This means that any level of proficiency is acceptable for the qualification.
* The resource request has a qualification with a specified proficiency and the resource has the qualification that meets the specified proficiency. This means that the resource has the exact level of proficiency required for the qualification. An individual's score is not 100% if the resource request has a qualification with a specified proficiency and the resource does not have the qualification or has a different level of proficiency than required. In this case, the score is calculated based on how close the resource's proficiency is to the required proficiency. Reference: https://docs.oracle.com/en/cloud/saas
/project-portfolio-management/20c/oapfm/manage-project-resources.html#OAPFM2356001
NEW QUESTION # 43
Your customer started operations and all projects in January 2015. They implemented Enterprise Project Structure for calculating project labor demand by using the Annual option.When they view the labor demand on 15-Dec-2015, the project hierarchy viewer shows data only for the year 2015. The client expected the demand to be shown for a year, from 15-Dec-2015 to 15-Dec-2016.
Identify how the project hierarchy viewer displays labor demand information. (Choose the best answer.)
- A. The date entered by a user as a parameter when running the Update EPS job was set to 01-Jan-2015, and hence the calculations show results for the year 2015.
- B. The current date is used for calculating labor demand for the current year.
- C. The project start date of Jan-2015 was used for calculating labor demand, and hence it calculated the demand for the year 2015.
- D. The current period start date is used for calculating labor demand for the current year.
Answer: B
Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapem/analyze-project- management-performance.html#OAPEM1313471 Topic - Project Labor Demand: How It's Calculated Settings That Affect Project Labor Demand Project application administrators must do the following to set up how project labor demand is calculated:
* Organize projects into hierarchical groups on the Manage Enterprise Project Structure page.
* Change the quarterly FTE hours for the organization on the Define Project Management Implementation Options page, if different from 520 hours.
Note: You can choose to view labor demand annually instead of quarterly.The Project Hierarchy Viewer uses thecurrent dateto determine which year or quarter to display.
NEW QUESTION # 44
While creating a new project template, you notice that a default Asset Cost Allocation method is being automatically associated. Identify the source setup from which the default value is being inherited. (Choose the best answer.)
- A. project organization
- B. project classification
- C. project unit
- D. project type
Answer: D
Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjf/define-project.
html#OAPJF220111
Asset Cost Allocation Methods
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 Asset Cost Allocation Methods 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 # 45
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. Expenditure Organization Cost Center Segment
- B. Event Organization Cost Center Segment
- C. Project Organization Cost Center Segment
- D. Expenditure Business Unit Cost Center Segment
Answer: A
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 # 46
Which three are project gate statuses? (Choose three.)
- A. Draft
- B. Open
- C. Approve
- D. Closed
- E. In Review
Answer: B,D,E
Explanation:
Project gate statuses are values that indicate the progress or completion of a project gate. A project gate is a checkpoint that marks the end of a phase or stage in a project lifecycle. Three of the project gate statuses are:
* Open: This status indicates that the project gate is not yet ready for review or approval.
* In Review: This status indicates that the project gate is under review or approval by the gate reviewers or approvers.
* Closed: This status indicates that the project gate has been reviewed or approved and the project can move to the next phase or stage. Approve and Draft are not project gate statuses, but actions that can be performed on a project gate. Approve is an action that allows a gate approver to approve a project gate and change its status to Closed. Draft is an action that allows a gate owner to create or edit a project gate and change its status to Open. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio- management/20c/oapfm/manage-project-execution.html#OAPFM2356251
NEW QUESTION # 47
Identify theattribute of a project typethatdetermines if expenditure items are billable, and theamount type to be used as the basisfor transfer pricing. (Choose the best answer.)
- A. expenditure type
- B. cost type
- C. work type
- D. event type
Answer: C
Explanation:
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/OAPFM/OAPFM1125361.htm#OAPFM1125277 (what's a work type?) In billing, you can use work types to classify work for the following purposes:
* To determine the default billable status of expenditure items.
* To classify cross-charge amounts into cost and revenue for cross-charge transactions.
Tip:To use work types to determine whether an expenditure item is billable you must set the profile option Work Type Derived for Expenditure Item toYes.
When you create or import expenditure items, the default work type is inherited from the associated task.
Tasks, in turn, inherit work type values from parent tasks and ultimately from the project.Project types determine the default work type value for projects and project templates.
NEW QUESTION # 48
Which product offering enables you to collaboratively plan and deliver projects by leveraging intuitive and integrated scheduling tools?
- A. Resource Management
- B. Project Costing
- C. Project Management
- D. Project Control
Answer: C
Explanation:
Project Management is the product offering that enables you to collaboratively plan and deliver projects by leveraging intuitive and integrated scheduling tools. Project Management allows you to create and manage project plans, tasks, deliverables, issues, milestones, gates, etc. using various methods and sources. You can also monitor and control project progress and performance using dashboards and reports. Resource Management is the product offering that enables you to optimize the utilization and allocation of resources for projects and tasks. Resource Management allows you to create and manage resource requests, assignments, pools, calendars, etc. using various criteria and sources. You can also monitor and analyze resource availability and demand using dashboards and reports. Project Control is the product offering that enables you to simplify the planning, budgeting, and forecasting capabilities for projects and tasks. Project Control allows you to create and manage project budgets, forecasts, financial plans, etc. using various methods and sources.
You can also monitor and control project costs and variances using dashboards and reports. Project Costing is the product offering that enables you to capture and process project costs from various sources and applications. Project Costing allows you to create and manageproject transactions, expenditures, assets, etc.
using various rules and options. You can also generate project costing and accounting entries using dashboards and reports. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c
/oapfm/overview-project-financial-management.html#OAPFM2356301
NEW QUESTION # 49
You create a project schedule with a Shifts element. Identify two more elements that can be part of a project schedule. (Choose two.)
- A. Workday Patterns
- B. Expenditure Type
- C. Time Off
- D. Accounting Calendar
- E. Exceptions
Answer: A,E
Explanation:
Reference: https://docs.oracle.com/cloud/latest/projectcs_gs/FAPFM/FAPFM1192914.htm Topic - Creating Calendars for Projects and Resources: Procedure Project Schedules are used as a base for project and resource calendars in Project Execution Management applications. The smallest scheduling unit is a day. For example, you can define the number of hours in a day but, you can't schedule work for a specific time of the day.
The following are the elements of a schedule:
* Shifts
* Workday patterns
* Exceptions
NEW QUESTION # 50
Which component of performance measures allows you to select the method that is used to measure accounts such as budget, forecast, and actual?
- A. Scenario Member
- B. Accounts Member
- C. Time Member
- D. Category Member
Answer: B
Explanation:
The Accounts Member component of performance measures allows you to select the method that is used to measure accounts such as budget, forecast, and actual. The Accounts Member component defines the account dimension member for the performance measure, which represents the financial data that is measured. You can also specify the aggregation rule and calculation method for the account dimension member. Reference:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-performance- reporting.html#OAPFM2356081
NEW QUESTION # 51
You have been asked to set up one active person, who is not a team member in the project, as a quality manager for each quality task created under projects. However, when you try to assign the quality manager as Task Manager, you cannot find the person's name in the list of values. What is the reason for this problem?
(Choose the best answer.)
- A. The "Require Task Managers to be Project Team Members" profile option is set to Yes.
- B. The quality manager belongs to a department that is not associated with the project.
- C. The quality manager is not assigned with a supervisor.
- D. The "Require Task Managers to be Project Team Members" profile option is set to No.
Answer: A
Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/fapfm/introducing-oracle- project-portfolio-management-cloud-services.html#FAPFM428138 Topic - Project Foundation Profile Options Profile Option Name - Task Managers Must Be Project Team Members Description - Specify whether task managers must be project team members.
Values - No (Default) /Yes
Setup Task Name -Require Task Managers to be Project Team Members
NEW QUESTION # 52
Your customer wants a team member who is assigned to a project to beable to create and submit a forecast, butnot to be able to approve the forecast. What is the default project role that you should assign to the person in the project to meet this requirement? (Choose the best answer.)
- A. Project Accountant
- B. Project Administrator
- C. Project Manager
- D. Project Application Administrator
Answer: B
Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjm/project-administrator-job- role.html#Project_Administrator_privileges Project Manager has duty role 'Project Forecast Approval Duty' assigned but Project Administrator has duty role 'Project Forecast Inquiry Duty' - no approval authority Both roles have duty role 'Project Forecast Management Duty' which enables them to Allow creation, submission, update, and deletion of working versions of project forecasts. (Cloud _Roles_Duties.xlsx)
NEW QUESTION # 53
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