Quiz 1z0-1057-24 - Oracle Project Management Cloud 2024 Implementation Professional Useful Reliable Test Cram

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Oracle 1z0-1057-24 Exam Syllabus Topics:

Topic	Details
Topic 1	Configure Project Control: This section measures the skills of project control specialists and focuses on managing project budgets and forecasts to maintain control over project financials and performance.
Topic 2	Configure Project Billing: Targeting billing specialists, this section involves configuring project cross-charging and transfer pricing, and managing project invoicing and revenue processes to ensure accurate and efficient billing operations.
Topic 3	Using Functional Setup Manager: This section measures the skills of functional setup managers and focuses on understanding the Functional Setup Manager and the Rapid Implementation Workbook, which are essential for configuring and deploying Oracle Project Management Cloud applications.
Topic 4	Setting up Common Project Configuration: Targeting project configuration specialists, this section involves managing Subledger Accounting, setting up Project Financial Management Organizations, and managing Reference Data Sharing to ensure consistent and accurate financial reporting.
Topic 5	Configure Project Costing: Aimed at cost management analysts, this section covers configuring the Project Cost Collection Center, managing burdening and allocations, explaining capitalized interest calculations, describing budgetary controls, configuring Time & Labor for projects, and managing integrations to ensure accurate project costing.
Topic 6	Describing Applications Security: Aimed at security administrators, this section covers the Applications Security Console, identification of roles in a seeded security implementation, and management of roles and duties to ensure secure access and operations.
Topic 7	Configure Project Resource Management: This section measures the skills of resource managers and focuses on defining project enterprise labor resources to optimize resource allocation and utilization.
Topic 8	Configure Project Performance Reporting: This section assesses the skills of performance reporting analysts and includes configuring and managing key performance indicators for project performance reporting to monitor and evaluate project success effectively.

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Oracle Project Management Cloud 2024 Implementation Professional Sample Questions (Q63-Q68):

NEW QUESTION # 63
Your customer wants to automatically allocate unassigned asset lines and common costs across multiple assets basedon 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. Spread Evenly
B. Standard Unit Cost
C. Current Cost
D. Estimated Cost
E. Actual Unit

Answer: C

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 assetgrouping 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 # 64
Your customer wants to calculate Estimate to Complete (ETC) as the difference between Current Planned Cost and Actual Cost. In Progress Settings, which option would you use in conjunction with the ETC method to meet this requirement? (Choose the best answer.)

A. Manual Entry
B. Remaining Plan
C. Effort
D. Cost

Answer: D

Explanation:
Reference: https://ppm-help.saas.hpe.com/en/9.42/Help/Content/UG/PjMUG/view_pj_cost_data_costtab.htm Below is an example of the Financial Summary view on the Cost tab of the Project Overview page.
https://admhelp.microfocus.com/ppm/en/9.42/Help/Content/UG/PjMUG/images
/ProjectOverviewPage_CostTab.gif

NEW QUESTION # 65
In your customer site, the capitalized interest calculation is implemented on their project types. Which option represents the costs considered in the interest calculation? (Choose the best answer.)

A. expenditure type exclusions on the Capitalized Interest rate schedules
B. expenditure items whose costs are applied to a single asset or multiple assets
C. expenditure type exclusions on the Capitalized Interest rate name
D. common costs on the project/task
E. expenditure items whose cost spreads across multiple assets that are capitalized

Answer: B

Explanation:
Reference: https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_988B43C997365159E040D30A68813832
https://docs.oracle.com/cd/E48434_01/fusionapps.1118/e49622/F1125377AN61D92.htm

NEW QUESTION # 66
Your organization has created an Enterprise Project Structure (EPS) and your executives review the overall project labor demand by using the EPS. Identify two correct statements about the periodic project labor demand. (Choose two.)

A. Labor Demand FTE is calculated as Project Allocation hours divided by Project FTEhours, if project duration is used as the basis for viewing labor demand.
B. Labor Demand FTE is calculated as Monthly Allocation hours divided by Monthly FTE hours, if a period is used as the basis for viewing labor demand.
C. Labor Demand FTE is calculated as Quarterly Allocation hours divided by Quarterly FTE hours, if a quarter is used as the basis for viewing labor demand.
D. Labor Demand FTE is calculated as Yearly Allocation hours divided by Yearly FTE hours, if a year is used as the basis for viewing labor demand.

Answer: C,D

Explanation:
Reference: https://docs.oracle.com/cloud/farel10/projectcs_gs/OAPEM/OAPEM1461017.
htm#OAPEM1313472
Project Labor Demand: How It's Calculated
Project executives want to track the labor demand in projects in their organization. The Project Hierarchy Viewer provides project executives a hierarchical view of the enterprise project structure (EPS) along with the labor demand in terms of full-time equivalent (FTE).
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 the current date to determine which year or quarter to display.
How Project Labor Demand Is Calculated
The Project Hierarchy Viewer calculates project labor demand in the following manner:
* Spreads the allocation hours from the Manage Project Resources page evenly over the days that the resources are allocated to the project.
* Divides the quarterly project allocation hours by the quarterly FTE hours to get the labor demand.
* Rolls up the quarterly and annual labor demand up the hierarchy.

NEW QUESTION # 67
Your client has decided to import time cards into Project Costing from Oracle Fusion Time and Labor. They have a requirement to make adjustments to time card entries whenever needed.
In which work area will the employees and contingent workers be able to modify their time cards?

A. Both Time and Cost
B. Cost
C. Asset
D. Time

Answer: D

Explanation:
The employees and contingent workers will be able to modify their time cards in the Time work area. This work area allows them to enter, review, edit, and submit their time cards for approval. They can also view the status and history of their time cards and make corrections as needed. The Time and Cost work area allows the project managers and cost accountants to review, adjust, and transfer time card transactions to projects and tasks. The Asset work area allows the asset managers and cost accountants to review, adjust, and transfer asset transactions to Oracle Fusion Assets. These work areas are not used by the employees and contingent workers to modify their time cards. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c
/oapfm/manage-project-time-and-labor.html#OAPFM2356221

NEW QUESTION # 68
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QUIZ 1Z0-1057-24 - ORACLE PROJECT MANAGEMENT CLOUD 2024 IMPLEMENTATION PROFESSIONAL USEFUL RELIABLE TEST CRAM

Quiz 1z0-1057-24 - Oracle Project Management Cloud 2024 Implementation Professional Useful Reliable Test Cram