Oracle Oracle Certifications 1Z0-1057-23 Questions & Answers

• Question 41:

  You have a small project for a period of five months. Your budget amount for each month is spread evenly and is $1000 per month. The first month actual expense is $800 and there is a commitment for $600. Now you generate a forecast at the beginning of the second month. Identify the monthly Estimate-To-Complete (ETC) amount that the application would calculate for the remaining four periods, when the ETC generation method includes commitments. (Choose the best answer.)

  A. 1000

  B. 900

  C. 800

  D. 600

  Correct Answer: B

  Budget 5,000Actuals 800Commitment 600 ETC = Budget ?Actuals ?Commitment ETC = 5,000-800-600 = 3,600 Budget available for next 4 months = 3,600/4 = 900/month

• Question 42:

  You are trying to create a project purchase order (PO) but you are unable to select Expenditure Organization in the PO. Identify two reasons for this problem. (Choose two.)

  A. The organization is not classified as a project-owning organization.

  B. The organization is not classified as a project expenditure organization.

  C. The organization is not included in the organization tree that is assigned to the business unit that owns the PO.

  D. The organization is classified as a project unit.

  Correct Answer: BC

  Ref: Implementing-Project-Financial-Management-and-Grants-Management.pdf

  Chapter 3 ?Define Project Organizations Page # 12 Topic ?Selecting Organization Hierarchies for the Business Unit The following conditions are required for an organization to be eligible to be a project expenditure organization:

  You must assign the Project Expenditure Organization classification to the organization.

  The organization must belong to the hierarchy that you specify in the project implementation options for the business unit.

• Question 43:

  Your customer has different accounting and project accounting periods, and sometimes enters invoices with an invoice date in the open project accounting and closed accounting periods. Which two statements are true about how project accounting and accounting dates will be populated in such invoices? (Choose two.)

  A. Accounting date is the same as the original invoice date.

  B. Project accounting date is the same as the original invoice date.

  C. Project accounting date is the first day of the first open project accounting period.

  D. Project accounting date is the last day of the open project accounting period.

  E. Accounting date is the first day of the first open accounting period.

  Correct Answer: AC

  When an invoice is entered with an invoice date in the open project accounting and closed accounting periods, the accounting date is the same as the original invoice date, but the project accounting date is the first day of the first open project accounting period. This ensures that the invoice is accounted in the correct accounting period and recognized in the correct project accounting period. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-invoices.html#OAPFM2355911

• Question 44:

  Your customer has a requirement to import and process third-party transactions that are "costed" and "accounted".

  Which configuration option needs to be set satisfy the requirement? (Choose the best answer.)

  A. Import Options

  B. Document Options

  C. Transaction Source Options

  D. Document Entry Options

  Correct Answer: C

  Reference https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJC/F1071488AN1004C.htm To import and process third-party transactions that are costed and accounted, you need to set the Transaction Source Options for the transaction source that you use to import the transactions. The Transaction Source Options allow you to specify whether the transactions are costed and accounted by the source system or by Oracle Fusion Cost Management. You can also specify whether to validate and transfer costs and accounting entries to projects and general ledger. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2355941

• Question 45:

  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.

  Which three are parameters that are based on which the system identifies the new resources?

  A. Department

  B. Project Unit

  C. Jobs

  D. Business Unit

  E. Organization

  Correct Answer: CDE

  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

• Question 46:

  Which component provides a human workflow service that handles all interactions with users or groups in business processes?

  A. Security Console

  B. SOA Suite

  C. Subledger Accounting

  D. BPM Worklist

  Correct Answer: D

  The BPM Worklist component provides a human workflow service that handles all interactions with users or groups in business processes. The BPM Worklist allows users to view, act on, track, and administer workflow tasks that require their attention. Users can also delegate, escalate, or reassign tasks to other users or groups as needed. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/integrate-project-financialmanagement.html#OAPFM2356171

• Question 47:

  Identify the precedence order in which cost rates are determined for a planning resource when deriving raw costs for rate-based planning resources. (Choose the best answer.)

  A. Override rate > Job rate schedule > Resource class rate schedule > Person rate schedule

  B. Person rate schedule > Job rate schedule > Resource class rate schedule > Override rate

  C. Job rate schedule > Resource class rate schedule > Override rate > Person rate schedule

  D. Override rate > Person rate schedule > Job rate schedule > Resource class rate schedule

  E. Resource class rate schedule > Override rate > Job rate schedule > Person rate schedule

  Correct Answer: D

  Reference https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_8718794B26A7BB93E040D30A6 88149A3

• Question 48:

  Identify two attributes for which you can enter budgets that will be considered for Budgetary Controls in Project Portfolio Management. (Choose two.)

  A. project

  B. expenditure item

  C. project classification

  D. project plan type

  E. resource

  Correct Answer: AE

  Reference https://docs.oracle.com/cloud/latest/projectcs_gs/OAPJF/OAPJF1121937.htm#OAPJF1121

• Question 49:

  Stigma consulting has been hired by a client to implement Project Management Cloud. Which role should they assign to a user for using the rapid implementation feature to set up the Project Financial Management offering by populating and uploading a Microsoft Excel workbook?

  A. Project Executive

  B. Project Integration Specialist

  C. Project Administrator

  D. Project Application Administrator

  Correct Answer: B

  The Project Integration Specialist role should be assigned to a user for using the rapid implementation feature to set up the Project Financial Management offering by populating and uploading a Microsoft Excel workbook. This role allows the

  user to access the Functional Setup Manager and perform the common setups for project costing and billing using predefined templates and spreadsheets. The user can also monitor and validate the setup data using reports and dashboards.

  Reference:

  https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2356151

• Question 50:

  When implementing Project Performance Reporting, your customer has the following requirements:

  Every time a project cost is greater than or equal to a threshold, then the project should be shown as critical.

  As long as a project cost is less than the threshold, the project should be shown as on-track.

  Which threshold level rule is ideal for this kind of KPI definition? (Choose the best answer.)

  A. multiple threshold levels

  B. single threshold level value

  C. single threshold level range

  D. multiple threshold level value

  Correct Answer: B

  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjs/update-project-performance-data-and-generate-kpis.html#OAPJS16654 Performance Status Indicator Performance status indicators give an immediate picture of the status of a project, such as critical, at risk, and on track. Each distinct icon indicates the status and severity of performance. During KPI definition, you first associate status indicators with performance statuses: Critical Severe At risk On track Ahead You then associate these statuses with threshold levels. When KPI values are generated for a project, each value is compared to the defined thresholds and the corresponding status indicator for the KPI appears on project performance reports. A status can identify negative performance so that you can take the appropriate actions to prevent or quickly resolve problems. Conversely, a status can identify positive performance to help you track expected or excellent performance.

  https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/fapfm/implementing-project-financial-management-applications.html#FAPFM975706 Create Key Performance Indicators Create key performance indicators (KPI) to measure how well your organization performs an operational, tactical, or strategic activity that is critical for the current and future success of the organization. Note: To create KPIs you must enable a project unit to track key performance indicators. Use the Threshold Levels section to specify thresholds to indicate the health status of a KPI. Select one of the following options: Multiple threshold levels Single threshold level value Single threshold level range