1z0-1057-24 Sample Questions Answers

The Default Capitalized Interest Rate Schedule should be specified on the Manage Project Type page. This option allows you to select a capitalized interest rate schedule that will be used as the default for projects or tasks that use the project type. A capitalized interest rate schedule defines the interest rates and dates that are used to calculate the capitalized interest amount for a project or task. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356101

The precedence order that is used by the system for labor schedules to distribute payroll cost is Assignment > Assignment Element > Element. This means that the system first looks for a labor schedule that is assigned to the employee assignment, then for a labor schedule that is assigned to the payroll element of the employee assignment, and finally for a labor schedule that is assigned to the payroll element itself. The system uses the first labor schedule that it finds in this order to distribute the payroll cost to projects and tasks based on the hours and rates defined in the schedule. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356121

Referencehttps://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, orboth employees and contingent workers.

Option to select people based on job

Select this option for the process to create resources for HCM persons with specific jobs.

CautionIf you do not select job criteria for this condition, the process will create resources for all 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 resource availability and staffing

Select this option for resource managers to manage the availability and project staffing of resources who are created based on the condition. Resources who are managed in Oracle 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 currency

Enter the cost rate and currency for resources that are created based on the condition.

Bill rate and currency

Enter the bill rate and currency for resources that are created based on the condition.

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

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapjm/index.html#_Toc468200732_1_12

Topic –Privileges- This table lists privileges granted to duties of the abstract role Project Management Duty.

Granted Role - Project Plan Management

Privilege – only A and C are listed

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oefpp/toc.htm

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/faopm/subjectareas.h tml#Projects__Cross_Subject_Area_Analysis__Real_Time_SA_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.

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

Authorization Policy Manager (APM)

APM greatly simplifies the creation, configuration, and administration of application policies

APMdoes not support the management of users and external roles;these artifacts can only be viewed with the tool.Their provision and management is typically accomplished using Oracle Identity Manager

Oracle Identity Manager (OIM)

In regard to enterprise users and external roles, Authorization Policy Manager provides viewing and searching functionality only.To manage users and external roles, use Oracle Identity Manager or some other identity management tool.

OIM provision users, roles, and defines what a user can do in Oracle Cloud

Duty Roles are mapped to jobs and assigned access privileges (Data Security)

Status tracking is a feature that allows you to track the progress and history of project invoice approval notifications. Status tracking provides information such as who approved or rejected the invoice, when and why they took the action, who is currently assigned to approve or reject the invoice, etc. Three of the information that can be tracked as status tracking for project invoice approval notifications are:

Person assigned for approval: This shows the name of the person who is currently assigned to approve or reject the invoice notification.

Prior actions: This shows the list of actions that have been taken on the invoice notification by previous approvers or rejectors, such as approve, reject, request information, etc.

Persons with whom it is still pending approval: This shows the list of persons who are still in the approval chain for the invoice notification and have not taken any action yet. Pre-approval activities and date-wise updates to the document are not information that can be tracked as status tracking for project invoice approval notifications. Pre-approval activities are tasks that need to be performed before submitting an invoice for approval, such as validating or transferring the invoice. Date-wise updates to the document are changes that are made to the invoice document after it has been submitted for approval, such as adjusting or reversing the invoice. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-invoices.html#OAPFM2356291

Project gate statuses are values that indicate the progress or completion of a project gate. A project gate is a checkpoint that marks the end of a phase or stage in a project lifecycle. Three of the project gate statuses are:

Open: This status indicates that the project gate is not yet ready for review or approval.

In Review: This status indicates that the project gate is under review or approval by the gate reviewers or approvers.

Closed: This status indicates that the project gate has been reviewed or approved and the project can move to the next phase or stage. Approve and Draft are not project gate statuses, but actions that can be performed on a project gate. Approve is an action that allows a gate approver to approve a project gate and change its status to Closed. Draft is an action that allows a gate owner to create or edit a project gate and change its status to Open. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-execution.html#OAPFM2356251

Ref:https://docs.oracle.com/cd/E83857_01/saas/applications-common/18b/oaext/page-modification.html#OAEXT1640891

The Allow Override option for the Default Capitalized Interest Rate Schedule is specified on the Manage Project Type page. This option allows you to override the default capitalized interest rate schedule for a project or task that uses the project type. The default capitalized interest rate schedule is used to calculate the capitalized interest amount for a project or task based on the interest rates and dates defined in the schedule. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356031

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oefpp/overview.html#External_Data_Integration_Services_for_Oracle_Cloud_Overview

XML (Extensible Markup Language) is the data format that is supported by SOAP (Simple Object Access Protocol) Web services to establish communication between web services consumers and web services providers. XML is a standard format that allows data to be exchanged across different platforms and applications. SOAP Web services use XML to encode the messages and data that are sent and received between the web services endpoints. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/integrate-project-financial-management.html#OAPFM2356071

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/fapfm/im plementing-project-execution-management-applications.html#FAPFM1718570

Topic -Manage Maintenance Conditions for Project Enterprise Labor Resource

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapem/evaluate-and-assign-resources.html#OAPEM916359

Topic -Resource Available Capacity Score: How It's Calculated

Calendars Used to Calculate Resource Available Capacity Scores

How the Resource Available Capacity Score Is Calculated

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

The BPM Worklist component provides a human workflow service that handles all interactions with users or groups in business processes. The BPM Worklist allows users to view, act on, track, and administer workflow tasks that require their attention. Users can also delegate, escalate, or reassign tasks to other users or groups as needed. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/integrate-project-financial-management.html#OAPFM2356171

Referencehttps://docs.oracle.com/cd/E37583_01/doc.1116/e22598/F45890 0AN13D82.htm

How Resource Mapping Is Calculated

You can track the cost impact of every resource that has been assigned to a project task and use the resource breakdown structure to view the breakdown of these costs. Oracle Fusion Projects associates the costs of the resources used for tasks with branches and levels in the resource breakdown structure. The process for determining the correct association is managed by rules of precedence.

Oracle Fusion Projects uses the followingrules to associate cost amounts with resources:

Select thelowest levelin the resource breakdown structure to which atransaction can map.

If there is only one level to which the transaction maps, the cost amounts are mapped to that level.

If the transaction maps to more than one level, Oracle Fusion Projects sums the precedence numbers for all resource types in the branch and gives precedence to the resource element in thebranch with the lowest sum.

If more than one branch has the lowest precedence number at the lower level, the application uses the precedence number of thenext level up.

If the sum of precedence numbers is the same for more than one branch, precedence is given to the branch with the lowest number at the lowest level.

If one branch contains a user-defined resource type, precedence is given to the branch thatdoes not contain a user-defined resource type.

NoteOracle Fusion Projects gives more precedence to a lower precedence number. For example, a resource element with a precedence number of 1 is given precedence over a resource element with a precedence number of 10.

Referencehttps://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/define-project-organizations.html#OAPFM30945 43

Topic - Manage Project Unit Organizations

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/fapfm/implementing-pr oject-financial-management-applications.html#FAPFM969761

Topic - Entering Planning Resource Breakdown Structure Details

ClickNavigator > Setup and Maintenance, and search for theManage Planning and Billing Resource Breakdown Structurestask.

Click theManage Planning and Billing Resource Breakdown Structureslink.

Use the Manage Planning and Billing Resource Breakdown Structures page to create new planning resource breakdown structures and to review existing planning and billing resource breakdown structures.

Click theCreateicon in the Planning Resource Breakdown Structures section.

Use the Create Planning Resource Breakdown Structure: Basic Information page to provide basic resource breakdown structure information including the name, active dates, and project unit.

Enter a planning resource breakdown structure name and select a date from which the resource breakdown structure is available for use.

Optionally, provide a description and a date to which the planning resource breakdown structure is available for use.

Select a project unit. Only projects created for the selected project unit can use this planning resource breakdown structure.

If you want to allow project managers to add planning resources at the project level, then select theAllow resource changes at project levelcheck box.

Tip:Changes at the project level don't move back to the parent planning resource breakdown structure.Deselect this option to ensure all project using the planning resource breakdown structure use the same resources.

Optionally, select aJob Setas a source of jobs for creating planning resources on your planning resource breakdown structure.

ClickSave.

Rapid Implementation for Project Financial Management Applications allows you to configure some common setups for project costing and billing using predefined templates and spreadsheets. Some of the setups that can be configured using Rapid Implementation are expenditure types, project templates, and project types. Work types and project class categories are not part of Rapid Implementation.Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2355871

The Cost Collection Flexfield is a descriptive flexfield that captures additional information about project costs. It has three core attributes that are required for every cost transaction:Billable Flag, Expenditure Type, and Capitalizable Flag. These attributes can be derived during import if not explicitly entered in a transaction document, based on various rules and sources such as expenditure type defaults, project type defaults, transaction source defaults, etc. Funding Source and Work Type are not core attributes of the Cost Collection Flexfield, but context-sensitive segments that can be optionally enabled for certain transaction sources or business units. These segments capture additional information about how the costs are funded or what type of work is performed. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356141

Referencehttps://docs.oracle.com/en/cloud/saas/applications-common/19b/facia/define-enterprise-structures.html#FACIA462453

Reference Data Sharing Methods

Variations exist in the methods used to share data in reference data sets across different types of objects. The following list identifies the methods:

Assignment to one set only, no common values allowed. This method is the simplest form of sharing reference data that allows assigning a reference data object instance to one and only one set. For example, Asset Prorate Conventions are defined and assigned to only one reference data set. This set can be shared across multiple asset books, but all the values are contained only in this one set.

Assignment to one set only, with common values. This method is the most commonly used method of sharing reference data that allows defining reference data object instance across all sets. For example, Receivables Transaction Types are assigned to a common set that is available to all the business units. You need not explicitly assign the transaction types to each business unit. In addition, you can assign a business unit-specific set of transaction types. At transaction entry, the list of values for transaction types includes the following:

Transaction types from the set assigned to the business unit.

Transaction types assigned to the common set that is shared across all business units.

Assignment to multiple sets, no common values allowed.The method of sharing reference data that allows a reference data object instance to be assigned to multiple sets. For instance, Payables Payment Terms use this method.It means that each payment term can be assigned to one or more than one set.For example,you assign the payment term Net 30 to several sets but assign Net 15 to a set specific only to your business unit. At transaction entry, the list of values for payment terms consists of only the set that is assigned to the transaction's business unit.

Note: Oracle Fusion Applications contains a reference data set called Enterprise. Define any reference data that affects your entire enterprise in this set. Also update the data set going forward as you create new reference data items.

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/proj ect-foundation-configuration-define-types-and-categorizations.html#OAPFM222700

Topic - Manage Project Class Categories

Setting Up Class Categories: Points to Consider

Available as Accounting Source

This option indicates if theclass category is available as an accounting source so that Oracle Fusion Subledger Accounting can use the category to create mapping sets, account rules, journal line rules, and description rules.

Only one class category at a time is available as an accounting source in Oracle Fusion Subledger Accounting. To change the class category that Oracle Fusion Subledger Accounting uses, deactivate the old class category and create a new one with a different date range.

Referencehttps://docs.oracle.com/cloud/r13_update17b/projectcs_gs/OAPJC/OAPJC1071490.htm#OAPJC1071482

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project- billing-configuration-define-transfer-pricing.html#OAPFM3094619

The workflows in Project Financial Management are business processes that automatethe approval and notification tasks for various project transactions and events. Two of the workflows in Project Financial Management are:

Project Status Change: This workflow manages the approval and notification tasks for changing the status of a project or task from one value to another. For example, when a project or task is submitted for approval, this workflow routes the request to the appropriate approvers and notifies them of the action required.

Expenditure Item Adjustment: This workflow manages the approval and notification tasks for adjusting expenditure items that have been charged to a project or task. For example, when an expenditure item is adjusted by a project manager or a cost accountant, this workflow routes the adjustment to the appropriate approvers and notifies them of the action required. Capital Interest Calculation, Burden Cost Recalculation, and Asset Line Generation are not workflows in Project Financial Management, but processes that perform various calculations and transactions for project costs and assets. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-financial-management.html#OAPFM2356161

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

To sell items not tracked in inventory, inventory items, and services, you can create two contract lines with different line types. The line type of “sell intent, free-form, project-based” allows you to sell any item or service without specifying the item number or quantity. The line type of “sell intent, item, project-based” allows you to sell inventory items by specifying the item number and quantity. Both line types are project-based, meaning they are linked to a project and generate revenue based on project performance.Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-contracts.html#OAPFM2355835

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

Ref: Implementing-Project-Financial-Management-and-Grants-Management.pdf (19A Part # F11256-01)

Chapter 3 – Define Project Organizations

Topic - Set Assignments and Project Data – How They Work Together (Page 29)

Business Unit as Set Determinant

Business units enable you to control and report on financial transactions, usually for specific geographical entities within the enterprise. For project management purposes, assign the Project Accounting business function to the business unit.

Business unit is a set determinant for the project-related reference data objects described in the following table.

Ref Data Object

Entities

Project Accounting Definition

Project Types

Project Rates

Project rate schedules

Project Unit as Set Determinant

Use project units to enforce consistent project management practices across your enterprise. Project unit is a set determinant for the reference data objects described in the following table.

Ref Data Object

Entities

Project Definition

Class codes, financial plan types, project plan types and project roles

Project Transaction Types

Expenditure types and work types

You can only select class codes, plan types, roles, expenditure types and work types that are assigned to the same set as the project unit. To enable expenditure types and work typesfor use on projects owned by a project unit, assign the set associated with the Project Transaction Types reference data object to those entities

Some of the main benefits of using the implementation projects within Functional Setup Manager are:

Implementation Project helps in assigning responsibility of managing setup data to a broad group of users. You can assign tasks to different users who are responsible for entering and validating setup data for different functional areas of the offering.

Implementation Project helps you to monitor progress of the setup tasks. You can track the status and completion percentage of each task and view the dependencies and prerequisites among tasks. Implementation Project does not give you the flexibility to set up different functional areas of the offering at different times, as this is determined by the configuration package that you select for your implementation. Implementation Project does not help you to use the manage setup data entry in bulk option, as this is a separate feature that allows you to import and export setup data across instances using spreadsheets. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2356051