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Oracle 1z0-1057-24 Exam Syllabus Topics:

Topic	Details
Topic 1	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 2	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 3	Project Management Overview: This section assesses the skills of project management consultants and focuses on understanding the components of Oracle Project Management Cloud, including its integration capabilities.
Topic 4	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 5	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 6	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 7	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 8	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 9	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.

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Oracle Project Management Cloud 2024 Implementation Professional Sample Questions (Q70-Q75):

NEW QUESTION # 70
You create a project schedule with a Shifts element. Identify two more elements that can be part of a project schedule. (Choose two.)

A. Accounting Calendar
B. Exceptions
C. Workday Patterns
D. Time Off
E. Expenditure Type

Answer: B,C

Explanation:
Reference: https://docs.oracle.com/cloud/latest/projectcs_gs/FAPFM/FAPFM1192914.htm Topic - Creating Calendars for Projects and Resources: Procedure Project Schedules are used as a base for project and resource calendars in Project Execution Management applications. The smallest scheduling unit is a day. For example, you can define the number of hours in a day but, you can't schedule work for a specific time of the day.
The following are the elements of a schedule:
* Shifts
* Workday patterns
* Exceptions

NEW QUESTION # 71
Identify theattribute of a project typethatdetermines if expenditure items are billable, and theamount type to be used as the basisfor transfer pricing. (Choose the best answer.)

A. expenditure type
B. work type
C. cost type
D. event type

Answer: B

Explanation:
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/OAPFM/OAPFM1125361.htm#OAPFM1125277 (what's a work type?) In billing, you can use work types to classify work for the following purposes:
* To determine the default billable status of expenditure items.
* To classify cross-charge amounts into cost and revenue for cross-charge transactions.
Tip:To use work types to determine whether an expenditure item is billable you must set the profile option Work Type Derived for Expenditure Item toYes.
When you create or import expenditure items, the default work type is inherited from the associated task.
Tasks, in turn, inherit work type values from parent tasks and ultimately from the project.Project types determine the default work type value for projects and project templates.

NEW QUESTION # 72
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.)

A. invoice method
B. expenditure items
C. bill plan
D. billing events
E. billing controls

Answer: C,E

Explanation:
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.
* Createbilling controlsfor 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.
Project and contract components used to determine invoice amounts and generate invoices.

NEW QUESTION # 73
Identify three correct statements about project types. (Choose three.)

A. Project type can be usedas a sourcein subledger accounting.
B. Project type can be associated with multiple project units.
C. Summarization options can be specified at project type.
D. Classifications can be assignedat project type.
E. Project type can beenabled for both billing and capitalization.

Answer: A,B,C

Explanation:
Project type is a classification that defines the common attributes and processing options for projects. Some of the correct statements about project type are:
* Project type can be used as a source in subledger accounting. This allows you to create accounting rules based on the project type attribute.
* Summarization options can be specified at project type. This allows you to control how the project transactions are summarized for reporting and performance purposes.
* Project type can be associated with multiple project units. This allows you to share the same project type across different business units or organizations. Project type cannot be enabled for both billing and capitalization, as these are mutually exclusive options. Classifications cannot be assigned at project type, but at project or task level. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio- management/20c/oapfm/set-up-project-financial-management.html#OAPFM2355971

NEW QUESTION # 74
You are set up as a Follower in Manage Tasks. Which two abilities can you accomplish? (Choose two.)

A. View task details and the task activity stream.
B. Receive email notifications about changes that team members make to a task.
C. Enter progress for tasks.
D. Edit task details.

Answer: A,B

Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapem/execute-project-tasks- and-deliverables.html#OAPEM1122082 Followers are persons who aren't working on the task but have an interest in reviewing the task progress. Only the resources and other followers can add followers to a task. If a resource assigns the task to another team member, the application automatically changes the original resource to a follower.
What's the difference between my tasks and tasks that I follow?
* You can edit task details and enter progress for your tasks on the Manage Tasks page. If a task has multiple resources, only the primary resource can edit the task.
* When you follow a task, you can view the task details and see the task activity stream. You receive e- mail notifications of changes that team members make to the task.
* If a resource reassigns the task to another team member, then the previous resource automatically becomes a follower.

NEW QUESTION # 75
......

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FREE PDF ORACLE - 1Z0-1057-24–TRUSTABLE NEW TEST QUESTIONS

Free PDF Oracle - 1z0-1057-24–Trustable New Test Questions