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Oracle 1z0-1057-24 Exam Syllabus Topics:

Topic	Details
Topic 1	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 2	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 3	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 4	Configure Project Performance Reporting: This section assesses the skills of performance reporting analysts and includes configuring and managing key performance indicators for project performance reporting to monitor and evaluate project success effectively.
Topic 5	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 6	Using Program Management: Targeting program managers, this section involves using program management and reporting tools to oversee multiple projects and ensure alignment with organizational objectives.
Topic 7	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.

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Oracle Project Management Cloud 2024 Implementation Professional Sample Questions (Q27-Q32):

NEW QUESTION # 27
Your organization performs revenue recognition based on the Labor and Non-labor Burden schedule types.
Identify the setup required to enable this kind of revenue recognition. (Choose the best answer.)

A. Create a revenue method with a revenue method classification of Amount Based.
B. Create a revenue method classification with a revenue method of Percent Spent.
C. Create a revenue method classification with a revenue method of Percent Complete.
D. Create a revenue method with a revenue method classification of Rate Based.

Answer: D

Explanation:
To perform revenue recognition based on the Labor and Non-labor Burden schedule types, you need to create a revenue method with a revenue method classification of Rate Based. This classification allows you to use the burdened cost rates of labor and non-labor resources as the basis for revenue recognition. The burdened cost rates are derived from the burden schedules that are assigned to the project or task. Reference:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-revenue.
html#OAPFM2355981

NEW QUESTION # 28
Your customer has different accounting and project accounting periods, and sometimes enters invoices with an invoice date in the open project accounting and closed accounting periods. Which two statements are true about how project accounting and accounting dates will be populated in such invoices? (Choose two.)

A. Project accounting date is the first day of the first open project accounting period.
B. Accounting date is the same as the original invoice date.
C. Project accounting date is the last day of the open project accounting period.
D. Project accounting date is the same as the original invoice date.
E. Accounting date is the first day of the first open accounting period.

Answer: A,B

Explanation:
When an invoice is entered with an invoice date in the open project accounting and closed accounting periods, the accounting date is the same as the original invoice date, but the project accounting date is the first day of the first open project accounting period. This ensures that the invoice is accounted in the correct accounting period and recognized in the correct project accounting period.Reference:https://docs.oracle.com/en/cloud/saas
/project-portfolio-management/20c/oapfm/manage-project-invoices.html#OAPFM2355911

NEW QUESTION # 29
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. Cost
B. Manual Entry
C. Remaining Plan
D. Effort

Answer: A

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.
https://admhelp.microfocus.com/ppm/en/9.42/Help/Content/UG/PjMUG/images
/ProjectOverviewPage_CostTab.gif

NEW QUESTION # 30
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. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.
B. You associate a deliverable with a task independent of associating a requirement with a task.
C. A deliverable associated with a requirement is automatically associated with the tasks created for that requirement.
D. The association of a deliverable with a task is dependent on associating a requirement with a task.

Answer: A,B

Explanation:
According to Oracle sources1, the inheritance between requirements, tasks, and deliverables works as follows:
* You can associate a deliverable with a task independent of associating a requirement with a task. You can also associate a deliverable with a requirement independent of associating a task with a requirement
1.
* A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement. You must manually associate the deliverable with the tasks that produce it1.
Therefore, the correct answer is B and D.
1: Can deliverables for projects and tasks be inherited from associated requirements? - docs.oracle.com (index
1)
In Oracle Project Management, you can define requirements, tasks, and deliverables for your project based on your project methodology and lifecycle. Requirements are statements of needs or expectations that must be met by the project outcome. Tasks are units of work that must be performed to complete the project.
Deliverables are products or services that are produced or provided as part of a task or requirement. Two correct statements about how the inheritance between requirements, tasks, and deliverables works are:
* You associate a deliverable with a task independent of associating a requirement with a task. This means that you can create a deliverable for a task regardless of whether the task is linked to a requirement or not.
* A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement. This means that you have to manually associate a deliverable with a task even if both the deliverable and the task are linked to the same requirement.

NEW QUESTION # 31
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. billing events
D. bill plan
E. billing controls

Answer: D,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 # 32
......

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1Z0-1057-24 VALID TEST VCE FREE - 1Z0-1057-24 BEST PREPARATION MATERIALS

1z0-1057-24 Valid Test Vce Free - 1z0-1057-24 Best Preparation Materials