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Oracle 1z0-1057-24 Exam Syllabus Topics:

Topic	Details
Topic 1	Configure Project Management: Aimed at project execution managers, this section describes common project execution components, managing issues and deliverables, project requirements, configuring social networks for project execution, managing project gates, and using Application Composer for project execution management to ensure seamless project operations.
Topic 2	Describing Navigation, User Experience, Personalization, and Approvals: Targeting user experience designers, this section evaluates knowledge of business processes supported by approvals and workflows, setting up approval and notification tasks, and concepts related to navigation, user experience, and personalization within the application.
Topic 3	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 4	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 5	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 6	Configure Project Foundation: This section assesses the skills of project foundation specialists and includes setting up project calendars and periods, defining types and categorizations, managing project resources, describing rate schedules, project types, setting up transaction sources, and managing labor schedules to establish a solid foundation for project management.
Topic 7	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.

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Oracle Project Management Cloud 2024 Implementation Professional Sample Questions (Q44-Q49):

NEW QUESTION # 44
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. Standard Unit Cost
B. Estimated Cost
C. Actual Unit
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 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 # 45
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 level value
B. multiple threshold levels
C. single threshold level value
D. single threshold level range

Answer: C

Explanation:
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

NEW QUESTION # 46
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. Category Member
C. Accounts Member
D. Time Member

Answer: C

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 # 47
You want tocreate a few project roles so as to restrict accessin the Project Financial Management work area to only the specific projects in which an employee is assigned as a team member. What are the two default project roles available to meet this requirement? (Choose two.)

A. Project Billing Specialist- Security based on Contract BU
B. Project Accountant- Security based on BU for Assets, Expenditure BU for Costs and Contract BU for Revenue
C. Project Executive- Security based on Project Hierarchy
D. Project Team Member- Security based on Project Assignment
E. Project Manager- Security based on Project Assignment

Answer: D,E

Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/applications-common/r13-update17d/faser/implementing-security- in-oracle-fusion-project-portfolio-management.html#FASER1840867

NEW QUESTION # 48
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 Unearned Revenue 40,000Cr Revenue 40,000
B. Dr Unearned Revenue 40,000Cr Accounts Receivables 40,000
C. Dr Accounts Receivables 40,000Cr Revenue 40,000
D. Dr Accounts Receivables 40,000Cr Unbilled Receivables 40,000

Answer: D

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 # 49
......

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Oracle 1z0-1057-24 Exam Syllabus Topics:

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Oracle Project Management Cloud 2024 Implementation Professional Sample Questions (Q44-Q49):

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