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Oracle 1z0-1057-22 exam is a certification test that validates the skills and expertise of professionals in implementing projects using Oracle Project Management Cloud 2022. 1z0-1057-22 exam is designed to test the candidate's knowledge of implementing projects in various industries, including finance, healthcare, and manufacturing. It is ideal for professionals seeking to advance their careers in project management.
NEW QUESTION # 37
Your customer wants to calculate Estimate to Complete (ETC) as the difference between Current Planned Cost and Actual Cost. In Progress Settings, which option would you use in conjunction with the ETC method to meet this requirement? (Choose the best answer.)
- A. Manual Entry
- B. Remaining Plan
- C. Effort
- D. Cost
Answer: D
Explanation:
Reference https://ppm-help.saas.hpe.com/en/9.42/Help/Content/UG/PjMUG/view_pj_cost_data_costtab.htm Below is an example of the Financial Summary view on the Cost tab of the Project Overview page.
NEW QUESTION # 38
Your business user has created a purchase order (PO) that has the following attributes:
Accrue at Receipt = Yes
Matching Option = 2 way
Receipt Close Tolerance = 100%
After approval, the PO is closed for receiving without creating a receipt. An AP invoice is created by matching to the PO. The user now runs Create Accounting for Receiving Transactions and then the "Import and Process Cost transactions" ESS (Enterprise Scheduler Service) job using the Transaction Source parameter as "Oracle Payables". The user notices that there is no cost transferred to the projects. Identify two reasons for this problem. (Choose two.)
- A. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to NO, cost is transferred to projects by receipt accounting.
- B. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to YES, cost is transferred to projects by Cost Management and not by Payables.
- C. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to Yes, cost is transferred to project by payables.
- D. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to Yes, cost is transferred to projects only if there are accounted receipt lines.
Answer: B,D
NEW QUESTION # 39
Which two are the workflows in Project Financial Management? (Choose two.)
- A. Capital Interest Calculation
- B. Project Status Change
- C. Expenditure Item Adjustment
- D. Asset Line Generation
- E. Burden Cost Recalculation
Answer: A,B
NEW QUESTION # 40
You create a project schedule with a Shifts element. Identify two more elements that can be part of a project schedule. (Choose two.)
- A. Workday Patterns
- B. Expenditure Type
- C. Accounting Calendar
- D. Time Off
- E. Exceptions
Answer: A,E
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 # 41
While creating a new project template, you notice that a default Asset Cost Allocation method is being automatically associated. Identify the source setup from which the default value is being inherited. (Choose the best answer.)
- A. project classification
- B. project unit
- C. project type
- D. project organization
Answer: C
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjf/define-project.html#OAPJF220111 Asset Cost Allocation Methods 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 Asset Cost Allocation Methods 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 # 42
Which three tasks can be performed using the project requirements work area? (Choose three.)
- A. tracking backlog item status from the requirement storyboard.
- B. creating issues for the backlog items.
- C. adding scrum master to backlog items.
- D. creating projects and tasks in the context of backlog items.
- E. creating change orders for the backlog items.
Answer: A,B,D
NEW QUESTION # 43
Your organization has a requirement to retrieve the value of the cost center segment based on the department.
Which source can you use while defining the account rule to achieve this requirement?
- A. Event Organization Cost Center Segment
- B. Expenditure Business Unit Cost Center Segment
- C. Project Organization Cost Center Segment
- D. Expenditure Organization Cost Center Segment
Answer: C
NEW QUESTION # 44
In a Project Draft Invoice preview, quantity (hours) and unit price (bill rate) are shown as fields on the invoice. Quantity and unit price are then used to calculate the line total, then the total price of the invoice. After the invoice is transferred or created in Receivables, the invoice detail has a quantity of 1, and a unit price equal to the line total. The detailed Unit Price/Quantity does not come through on the Receivables invoice.
Identify the correct statement about details in the receivables invoice. (Choose the best answer.)
- A. The project sends the invoice header, invoice line description, and the invoice distributions to Receivables.
- B. The project sends only the invoice header and invoice line description to Receivables, not the invoice distributions.
- C. The project sends the invoice line description and the invoice distributions to Receivables, but not the invoice header.
- D. The project sends only the invoice header to Receivables, not the invoice line description and distributions.
Answer: B
Explanation:
When a project invoice is transferred or created in Receivables, the project sends only the invoice header and invoice line description to Receivables, not the invoice distributions. The invoice distributions contain the detailed information such as quantity, unit price, and line total. Therefore, the Receivables invoice does not show these details, but only shows a quantity of 1 and a unit price equal to the line total. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-invoices.html#OAPFM2355931
NEW QUESTION # 45
Your organization has been using project class categories and codes for reporting purposes and is set up at the project level. You recently defined a new project type, Capital-Contract, and created new class categories named Build, Operate, and Transfer (BOT) and Build, Transfer, and Maintain (BTM), with class codes of Yes/No. But on creation of a project, you are unable to associate these class categories and codes.
Identify two setups that are mandatory for these class categories and codes to be displayed. (Choose two.)
- A. Class categories should be assigned to business unit.
- B. Class categories should be assigned to project type.
- C. Class codes should be assigned to project unit.
- D. Class codes should be associated with a related set code.
Answer: B,D
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapfm/project-foundation-configuration-manage-project-types.html#OAPFM360164 Topic - Associating Project Types and Class Categories: Examples Project classifications group your projects according to categories and codes that you define. When you associate project classifications with project types, the classification is available for selection on projects with that project type.
Use any of the following methods to associate class categories with project types:
Add a classification to the project type definition
For each classification that you associate with the project type, you can enable the Assign to All Projects option to automatically add the classification to the project definition for all new projects with the project type. When this option is enabled, all projects with this project type must be assigned a class code for the class category.
Add a project type to the class category definition
Enable the Assign to all Project Types option on the class category definition
NEW QUESTION # 46
Which two attributes are available while enabling a task as a business object for social networking?
- A. Task
- B. Task Number
- C. Project Number
- D. Creation Date
- E. Project
Answer: B,C
NEW QUESTION # 47
Which data format is supported by SOAP Web services to establish communication between web services consumers and web services providers?
- A. XML
- B. XLSX
- C. JSON
- D. CSV
Answer: D
NEW QUESTION # 48
Which four standard objects can you configure to include business specific attributes by using Application Composer for Project Execution Management? (Choose four.)
- A. Project Resource Request
- B. Project Deliverables
- C. Project Issues
- D. Project Resource Assignment
- E. Project Gates
- F. Project Milestones
Answer: B,D,E,F
NEW QUESTION # 49
Identify three purposes for which the project resource search index is used. (Choose three.)
- A. Display resource details
- B. Provide absence details for resources
- C. Filter counts while you search for resources
- D. Calculate Resources Availability Scores
- E. Calculate Resource Qualification Scores
Answer: A,B,E
NEW QUESTION # 50
Which component provides a human workflow service that handles all interactions with users or groups in business processes?
- A. Security Console
- B. Subledger Accounting
- C. SOA Suite
- D. BPM Worklist
Answer: C
NEW QUESTION # 51
You create a contract with two contract lines: Line 1 and Line 2. You create separate bill plans: A for contract Line 1 and B contract for Line 2, with a different bill set number (11 for Bill Plan A and 22 for Bill Plan B).
Then Bill Plan A is allocated against Project X - Task 10, and Bill Plan B is allocated against Project Y - Task 30.
Based on the preceding setup, you are generating invoices. Identify two correct statements about invoice generation in this scenario. (Choose two.)
- A. Both the contract lines create only a single invoice because they are using the same contract.
- B. Two invoices are created using the same contract.
- C. Bill set number drives the grouping of transactions.
- D. Invoice generation does not depend on bill plan. The invoices are created based on the contract line.
Answer: B,C
Explanation:
Ref: https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJB/F1087456AN1006D.htm What's a bill set?
Transactions originating from different bill plans with the same bill set number on a contract are included on the same invoice. If a contract has multiple bill plans and each have different values for the bill set, Oracle Fusion Project Billing creates a separate invoice for each bill plan
NEW QUESTION # 52
Using Oracle Time and Labor, your client wants to put in a validation process that allows only a certain number of maximum hours an employee can charge in a day, and a minimum of hours he or she can report in a week.
What feature would you use to meet this requirement? (Choose the best answer.)
- A. time audit rules
- B. time calculation rules
- C. time entry rules
- D. project time validation rules
Answer: C
Explanation:
To put in a validation process that allows only a certain number of maximum hours an employee can charge in a day, and a minimum of hours he or she can report in a week, you need to use time entry rules. Time entry rules allow you to define the conditions and actions for validating time entries based on various attributes such as hours, dates, projects, tasks, etc. You can also specify the error messages and severity levels for the time entry rules. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-time-and-labor.html#OAPFM2355991
NEW QUESTION # 53
Which two attributes are available while enabling a task as a business object for social networking?
- A. Task
- B. Project
- C. Project Number
- D. Creation Date
- E. Task Number
Answer: A,B
Explanation:
To enable a task as a business object for social networking, you need to select the task and the project attributes. These attributes allow you to identify the task and the project it belongs to, and to view the social conversations related to them. Task number and creation date are not available as attributes for social networking. Project number is available, but it is not required to enable a task as a business object. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-tasks.html#OAPFM2355891
NEW QUESTION # 54
Which three are true of what you can do in the Project Requirements work area?
- A. Create an implementation project.
- B. Manage your list of backlog items.
- C. Organize backlog items by requirements.
- D. Create an execution project.
- E. Create project tasks for backlog items.
Answer: B,C,E
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapem/manage-project-requirements.html#OAPEM874365 Project Requirements: Explained Requirements enable you to capture your business needs. If you manage projects using the Agile development methodology, you start by identifying the high-level requirements and decomposing them further to manage the completion of work on the requirement.
You use the Project Requirements work area to:
Organize backlog items by requirements
Manage your list of backlog items
Create project tasks for backlog items
NEW QUESTION # 55
Which three features are part of Oracle Fusion Functional Setup Manager?
- A. updating an implementation project task list by changing the opt-in configuration to suit the latest requirements
- B. modifying an existing implementation project task list by selecting more functional areas when needed
- C. export and import services for setup data migration between environments
- D. guided task list for end-to-end setup requirements
- E. feature opt-in for a best fit configuration
Answer: C,D,E
Explanation:
https://docs.oracle.com/en/cloud/saas/applications-common/r13-update17d/oafsm/applications-cloud-using-functional-setup-manager.pdf Functional Setup Manager offers the following:
* Standardized application configuration and setup experience
* Feature opt-in for a best fit configuration
* Flexible processes for managing setup:
◦ Setup by functional areas for an adopt-as-you-go approach
◦ Implementation projects to manage setup
◦ Upload file to enter setup data in bulk
* Guided task list for end-to-end setup requirements
* Export and import services for setup data migration between environments
* Comprehensive reporting on setup data
NEW QUESTION # 56
Which three tasks can be performed using the project requirements work area? (Choose three.)
- A. tracking backlog item status from the requirement storyboard.
- B. creating issues for the backlog items.
- C. adding scrum master to backlog items.
- D. creating projects and tasks in the context of backlog items.
- E. creating change orders for the backlog items.
Answer: A,B,D
Explanation:
The project requirements work area is a work area that allows you to define and manage requirements for your projects using various methods and sources. Requirements are statements of needs or expectations that must be met by the project outcome. Backlog items are a type of requirement that are used for agile projects that follow an iterative and incremental approach. Three of the tasks that can be performed using the project requirements work area are:
creating projects and tasks in the context of backlog items: This task allows you to create new projects and tasks or link existing projects and tasks to backlog items. This helps you to plan and execute the work that is required to fulfill the backlog items.
creating issues for the backlog items: This task allows you to create new issues or link existing issues to backlog items. Issues are problems or risks that affect the progress or outcome of a project or requirement. This helps you to track and resolve the issues that are related to the backlog items.
tracking backlog item status from the requirement storyboard: This task allows you to view and update the status of backlog items from the requirement storyboard. The requirement storyboard is a graphical representation of the progress and completion of backlog items using various stages and lanes. This helps you to monitor and control the delivery of backlog items. Adding scrum master to backlog items and creating change orders for the backlog items are not tasks that can be performed using the project requirements work area. Adding scrum master to backlog items is a task that can be performed using the project team work area, as scrum master is a role that is assigned to a project team member who facilitates and coordinates the agile project activities. Creating change orders for the backlog items is a task that can be performed using the project change management work area, as change orders are documents that capture and approve changes to a project scope, schedule, or budget. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-execution.html#OAPFM2356321
NEW QUESTION # 57
Which four standard objects can you configure to include business specific attributes by using Application Composer for Project Execution Management? (Choose four.)
- A. Project Resource Request
- B. Project Deliverables
- C. Project Resource Assignment
- D. Project Issues
- E. Project Gates
- F. Project Milestones
Answer: B,D,E,F
Explanation:
Application Composer is a tool that allows you to configure standard objects or create custom objects to include business specific attributes for Project Execution Management. Four of the standard objects that you can configure using Application Composer are:
Project Gates: These are checkpoints that mark the completion of a phase or stage in a project lifecycle.
Project Issues: These are problems or risks that affect the progress or outcome of a project.
Project Milestones: These are significant events or achievements that indicate the status or completion of a project or task.
Project Deliverables: These are products or services that are produced or provided as part of a project or task. Project Resource Request and Project Resource Assignment are not standard objects that you can configure using Application Composer. These are features that allow you to request and assign resources for projects and tasks based on various criteria such as availability, qualifications, preferences, etc. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-execution.html#OAPFM2356201
NEW QUESTION # 58
Your client has implemented Oracle Cloud Applications with their United States business unit and United Kingdom business unit. After six months, they acquired another company in China and added a China business unit. A project accountant in your organization is authorized to access transactions for the US, UK, and China business units. The project accountant can see the transactions for the US and UK business units but not for the China business unit. Why is he not able to see the transactions for the China business unit? (Choose the best answer.)
- A. The China business unit is associated with a different legal entity than the US and UK business units.
- B. The project accountant is not assigned to the external role that grants access to the China business unit.
- C. The US and UK business units are linked to different ledgers than the China business unit.
- D. The JOB role relevant to the China business unit is not assigned to the project accountant.
Answer: B
Explanation:
To access transactions for a business unit, the project accountant needs to be assigned to an external role that grants access to that business unit. The external role is defined by the security profile of the business unit and can be different for each business unit. The job role and the legal entity are not relevant for accessing transactions for a business unit. The ledger is relevant for accounting transactions, but not for project transactions. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/set-up-project-financial-management.html#OAPFM2355903
NEW QUESTION # 59
You are managing a project based on a Waterfall model. You define a project and a project plan in Oracle Project Management with tasks and subtasks applicable to each of the phases of the project: Initiation, Discovery, Design, Build, Test, and Deploy. As a project manager, you want to define deliverables for your project requirements that are elucidated during the Discovery phase of your project. You now want to understand how the inheritance between requirements, tasks, and deliverables works.
Which two are correct statements in this scenario? (Choose two.)
- A. The association of a deliverable with a task is dependent on associating a requirement with a task.
- B. A deliverable associated with a requirement is automatically associated with the tasks created for that requirement.
- C. You associate a deliverable with a task independent of associating a requirement with a task.
- D. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.
Answer: A,D
NEW QUESTION # 60
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