Oracle Project Financials Management Cloud 1Z0-1057-22 Questions & Answers

• Question 1:

  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. (Choose the best answer.)

  A. Pool Membership

  B. attributes that the project enterprise resources are assigned after creation

  C. Jobs

  D. Person Type

  Correct Answer: D

  Reference https://docs.oracle.com/cloud/farel8/projectcs_gs/OAPEX/F1082603AN23E61.htm Manage Project Enterprise Labor Resource Maintenance Conditions Project Enterprise Labor Resources: How They Are Automatically Created and Maintained Run the Maintain Project Enterprise Labor Resources process to create resources, remove resource availability for staffing, and maintain the resource search index. Settings That Affect the Maintain Project Enterprise Labor Resources Process Create and maintain project enterprise labor resources by defining a set of conditions that specify the employees and contingent workers in Oracle Fusion Human Capital Management (HCM) to create as resources in Oracle Fusion Project Portfolio Management. Define the resource attribute values, such as the resource calendar and primary project role, to assign to the new resources. The following table lists the criteria that you define for selecting HCM persons to create as project enterprise labor resources.

  Selection Criteria Description

  Person type Select the HCM person type for the process to use as criteria when selecting HCM persons to create as resources. Available person types are employees, contingent workers, or both employees and contingent workers. Option to select Select this option for the process to create resources for HCM persons with specific jobs. people based on Caution If you do not select job criteria for this condition, theprocess will create resources for all job eligible people based only on the person type.

  Jobs If you selected the option to select people based on job, then select the jobs for the process to use as HCM person selection criteria.

  The following table lists the attributes for which you specify values to assign to resources that are created for the condition. Resource Attribute Description

  Option to manage Select this option for resource managers to manage the availability and project staffing of resource availability resources who are created based on the condition. Resources who are managed in Oracle and staffing Fusion Project Resource Management are eligible to fulfill project resource requests. Calendar Select the resource calendar for resources that are created based on the condition. The resource calendar defines the work schedule for project enterprise labor resources, and includes working days and hours and any exceptions, such as holidays. Primary project role Select the primary project role for resources that are created based on the condition. Project roles are maintained in Oracle Fusion Project Management. Cost rate and Enter the cost rate and currency for resources that are created based on the condition. currency Bill rate and currency Enter the bill rate and currency for resources that are created based on the condition.

• Question 2:

  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. Receipt Accounting

  B. Payables

  C. Fixed Asset

  D. Purchasing

  Correct Answer: ABD

  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

• Question 3:

  Your customer has implemented Oracle Project Portfolio Management Cloud recently and they have hired new employees for their Professions Services business. These employees are set up in Oracle Human Capital Management Cloud,

  but the Project Administrators are unable to add them as resources in the Planning Resource Breakdown Structure.

  What are three conditions for new employees to show up in the list? (Choose three.)

  A. Current date is before the effective date of the resource, and you did not enable the "Include people with future-dated effective start dates" option during the search.

  B. All new employees created as persons must have an active supervisor.

  C. All new employees created as persons must be assigned to a department.

  D. All new employees created as persons must have an active assignment.

  E. All new employees created as persons must have an active project role.

  Correct Answer: ACD

  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.

• Question 4:

  You are now the project manager of a newly created implementation project. Which two items are not part of managing an implementation project?

  A. Assign tasks to various users who are responsible for managing setup data.

  B. Monitor the progress of completing setup tasks.

  C. Select the offering you want to implement.

  D. Generate a list of setup tasks.

  E. Enable optional functional areas and features by opting in.

  Correct Answer: AD

• Question 5:

  You want to create a few project roles so as to restrict access in 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 Executive - Security based on Project Hierarchy

  B. Project Accountant - Security based on BU for Assets, Expenditure BU for Costs and Contract BU for Revenue

  C. Project Manager - Security based on Project Assignment

  D. Project Billing Specialist - Security based on Contract BU

  E. Project Team Member - Security based on Project Assignment

  Correct Answer: CE

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

• Question 6:

  Your customer complains that their project resources do not report their time promptly, which has resulted in incorrect reporting of project performance. What should you do to fix this problem? (Choose the best answer.)

  A. Enable track missing time at project unit.

  B. Enable track missing time at project type.

  C. Enable track missing time at project template.

  D. Enable track missing time at business unit.

  Correct Answer: A

• Question 7:

  You configure one OTBI using Project Cross Subject Area Analysis Real Time. You notice that all measures (Budget, Forecast, Cost, Commitments, Revenue, and Invoice) are not available for Bill-To- Customer and Contract and Contract Line dimensions. Identify the reason for this behavior. (Choose the best answer.)

  A. The Bill-To-Customer dimension applies only to Invoice measures, but the Contract and Contract Line dimensions do not apply to Revenue and Invoice measures.

  B. The Bill-To-Customer dimension applies only to Revenue and Invoice measures.

  C. The Contract and Contract Line dimensions apply only to Invoice measures.

  D. The Bill-To-Customer dimension applies to Invoice measures, and the Contract and Contract Line dimensions apply to Revenue and Invoice measures.

  E. The Bill-To-Customer dimension does not apply to Invoice measures, but the Contract and Contract Line dimensions apply only to Revenue and Invoice measures.

  Correct Answer: D

  Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio- management/19a/faopm/subjectareas.html#Projects__Cross_Subject_Area_Analysis__Real_Time_S A_20

  Analyze real-time information on project performance, including budgets, forecasts, costs, commitments, revenue, and invoices.

  This subject area analysis allows cross subject area analysis between Funding, Invoices, Revenue, Budget, forecasts, Costs areas.

• Question 8:

  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. common costs on the project/task

  B. expenditure type exclusions on the Capitalized Interest rate name

  C. expenditure type exclusions on the Capitalized Interest rate schedules

  D. expenditure items whose cost spreads across multiple assets that are capitalized

  E. expenditure items whose costs are applied to a single asset or multiple assets

  Correct Answer: E

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

• Question 9:

  You have closed the project accounting period with a warning, but you are unable to close the accounting period due to an error. Identify two reasons for this problem. (Choose two.)

  A. The corresponding Oracle Payables Cloud accounting period has not been closed.

  B. Transactions entered in an integrated Oracle Cloud Application are accounted, but not yet transferred and imported into Oracle Project Portfolio Management Cloud.

  C. Pending burden summarization items have not been processed.

  D. Unaccounted transactions are not imported.

  E. Unaccounted transactions have not been swept to the next period.

  Correct Answer: BE

  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapjb/record- accounting-for-project-billing.html#OAPJB340382 Topic - Accounting Period and Project Accounting Period Closing: How Validation Works

• Question 10:

  Which three features are part of Oracle Fusion Functional Setup Manager?

  A. feature opt-in for a best fit configuration

  B. export and import services for setup data migration between environments

  C. guided task list for end-to-end setup requirements

  D. updating an implementation project task list by changing the opt-in configuration to suit the latest requirements

  E. modifying an existing implementation project task list by selecting more functional areas when needed

  Correct Answer: ABC