Free Oracle Project Portfolio Management Cloud 2020 Implementation Essentials Exam 1Z0-1057-20 Exam Practice Test

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.)

• Standard Unit Cost
• Actual Unit
• Current Cost
• Estimated Cost
• Spread Evenly 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

Which two attributes are available while enabling a task as a business object for social networking?

• Task
• Project Number
• Task Number
• Creation Date
• Project

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 = YesAutomatically Roll Up Task Planned Dates = YesSynchronize Task Transaction Dates with Planned Dates = NoWith 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.)

• 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.
• 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.
• 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.
• 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. Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjf/manage-project-plan-tasks-and-task-assignments.html#OAPJF75076

Which two statements describe how the Resource Qualification Score is calculated?

• 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.
• An individual's score is 100% if the resource request has a qualification, but no proficiency is specified, and the resource has the qualification.
• 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.
• 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.

Your customer wants to perform billing based on the Percent Spent invoice method. Identify two setups that are required in project contracts for calculating invoice amounts as per their requirement. (Choose two.)

• billing events
• bill plan
• expenditure items
• billing controls
• invoice method Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjb/create-customer-contract.html#OAPJB70183 Bill Plan -- Create a bill plan within a contract that uses the invoice method you require. Assign the bill plan to one or more contract lines. A set of instructions on a contract that define how to invoice a customer. Multiple contract lines on a contract can use the same or different bill plans. Invoice Method is used in creating Bill Plan -- not a separate setup. Billing Controls -- Contract feature that controls the types of transactions, dates, and amounts a customer may be invoiced for and revenue can be recognized for a contract or contract line. Define billing controls at the contract or contract line level. Topic - Creating a Contract for Percent Spent Invoice and Revenue Methods: Worked Example This example describes a scenario where transactions for a contract line need to be invoiced and the revenue recognized using the percent spent method. What are the revenue and invoice method classifications? Percent Spent What is the billing extension calculation level for the contract line and project association? Project level Summary of the Tasks Create a contract, create the percent spent contract lines, create the bill plan, create the revenue plan. Prerequisites Create a project. Create the project plan for percent spent revenue. Specify the plan type on the percent spent billing extension. Create an approved cost budget. Create cost and burden rates. Enter labor and expense transactions for the project. Collect costs for the transactions. Configuration Steps Creating the Contract Creating the Percent Spent Contract Lines Creating the Bill Plan - A set of instructions on a contract that define how to invoice a customer. Multiple contract lines on a contract can use the same or different bill plans. Creating the Revenue Plan - Common set of instructions for recognizing revenue within a contract. Multiple contract lines on a contract can use the same or different revenue plans. Invoice method classifications determine how transactions are invoiced. The invoice method determines how invoice amounts are derived. Enter an invoice method on a bill plan, which you create for a contract and assign to contract lines to provide a set of instructions for creating an invoice. Create billing controls for a contract or contract line to define the valid transaction dates, billing resources, and amount limits for transactions associated with the contract. Generate invoices to calculate the invoice amounts for a contract. The following figure illustrates the components of a project and a contract that determine invoice amounts, and the relationships between the components.

You have a billable project for which the following details are provided:Associated Inception-To-Date (ITD) Project Actual Cost: USD 60Associated Project Budgeted Cost: USD 300Contract Amount: USD 1000Project Funded Amount: USD 750Sum of Existing Revenue Events: USD 80Identify the Associated Project Spent revenue that will get generated based on the preceding details. (Choose the best answer.)

• USD 184
• USD 120
• USD 134
• USD 70 Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjb/manage-project-contract-revenue.html#OAPJB164173 Associated Project Percent Spent Example The following formula calculates the percent spent revenue for the associated project. ((Sum of ITD Actual Cost for every subtask that is part of the associated task / Sum of Total Budgeted cost for every task that is part of associated task) x Associated Project Funded Amount) -- Sum of Existing Invoice Event Amounts for the Associated Project ((60/300) x 750) -- 80 = 70 ((Actual Cost / Budgeted Cost) x Budgeted Revenue) -- Sum of Revenue Event Amount

Which three setups can be configured by using Rapid Implementation for Project Financial Management Applications?

• Departments
• Expenditure Types
• Project Templates
• Project Types

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.)

• 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.
• 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.
• 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.
• 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. 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.

Which two statements are true about the cross-charge method, Borrowed and Lent?

• This method creates accounting entries that move an amount equal to the transfer price between the provider and receiver organizations within a legal entity.
• Costs or revenue are shared based on transfer price rules with this method.
• You must set up the contract business unit to use this method.
• This method creates a formal internal invoice. Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjc/process-project-cost-transactions.html#OAPJC284872 What's a borrowed and lent processing method? A method of processing cross-charge transactions that generates accounting entries to share revenue or transfer costs from the provider organization to the receiver organization within a legal entity. An internal invoice isn't created but costs or revenue are shared based on the transfer price rules. This method provides a financial view of the performance of an organization.

A project administrator is trying to assign a team member for a project but cannot find the person in the team member list on the Project Definition page. What is the reason for this problem? (Choose the best answer.)

• The employee is not assigned to the project-owning organization.
• The employee is not assigned with a supervisor.
• Project roles are not assigned in the project.
• The employee is not assigned to a department. Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-foundation-configuration-define-project-resource-breakdown-structures.html#OAPFM180158_2 Why can't I find persons in the list of resources when I enter team members, planning resources, or person rate schedules? You can't find persons in the list of resources when you enter team members, planning resources, or person rate schedules in the following situations: The administrator didn't assign a department while creating users. Persons must have an active assignment and be assigned to a department in Oracle Fusion Human Capital Management before they can be added as team members or entered as resources on the planning resource breakdown structure or person rate schedule. The resource isn't active in Oracle Fusion Human Capital Management because the current date is before the effective date of the resource. If you want to include persons who will start in the future, select the Include people with future-dated effective start dates option when you search for the person. Persons assigned as project managers aren't active as of the project start date. The assignment of the person is terminated, and an appropriate value isn't set for the number of days to display people with terminated assignments. You can set the profile value appropriately at the site profile level using the Specify Number of Days to Display People with Terminated Assignments task in the Setup and Maintenance work area.