Oracle

1Z0-1057-23
Oracle Project Management Cloud 2023 Implementation
Professional
QUESTION & ANSWERS

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QUESTION: 1

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.)

Option A : project classification

Option B : project type

Option C : project unit

Option D : project organization

Correct Answer: B

Explanation/Reference:

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjf/define-project.html#OAPJF220111Asset Cost

Allocation MethodsThe asset cost allocation method determines how indirect or common costs incurred on a project are

allocatedto multiple assets.You can specify an asset cost allocation method to enable Oracle Fusion Project Costing to

automaticallyallocate unassigned asset lines and common costs across multiple assets. Unassigned asset lines typically

occurwhen 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 alsooverride the asset cost allocation method at the event levelAsset Cost Allocation

MethodsThe following table describes the available asset cost allocation methods.MethodBasis of Cost AllocationActual

UnitsNumber of units defined for each assetCurrent CostConstruction-in-process (CIP) cost of each assetEstimated

CostEstimated cost of each assetStandard Unit CostCombination of the standard unit cost and the number of units defined for

each assetSpread EvenlyEqual allocation of cost to each asset

QUESTION: 2

Your customer has the following setups on the project plan type that they are using for their projects:Use
Task Planned Dates as Task Assignment Dates = YesAutomatically Roll Up Task Planned Dates =
YesSynchronize Task Transaction Dates with Planned Dates = NoWith these setups in place, you perform the
following actions:1. Create a new subtask (Sub Task 1) with a start date of 15-Jun-2016 on the project that
has as start date of01-Jul-2016.2. Create another new subtask (Sub Task 2) after the previous action is
saved.What would the correct behavior of the application be after these actions? (Choose the best answer.)

Option A : After the creation of Sub Task 1, Project Start Date would remain unchanged as 01-Jul-2016
and Sub Task 2 would be created with 15-Jun-2016.

Option B : After the creation and saving of Sub Task 1, Task Start Date would be changed to 01-Jul-2016
and Sub Task 2 would be created with 01-Jul-2016.

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 Option C : After the creation of Sub Task 1, Project Start Date would be changed to 15-Jun-2016 and Sub
Task 2 would be created with 15-Jun-2016.

Option D : Project Start Date would remain unchanged as 01-Jul-2016 for both actions but the start dates
on both subtasks would remain 15-Jun-2016.

Correct Answer: C

Explanation/Reference:

Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjf/manage-project-plan-tasks-and-task-

assignments.html#OAPJF75076

QUESTION: 3

Which two attributes are available while enabling a task as a business object for social networking?

Option A : Task

Option B : Project Number

Option C : Task Number

Option D : Creation Date

Option E : Project

Correct Answer: B,C

QUESTION: 4

Your organization has been awarded a new contract based on which you are allowed to sell:Items not
tracked in inventoryInventory itemsServicesWhich contract structure would fulfill your requirement of item
sales? (Choose the best answer.)

Option A : Create two contract lines with a line type each of “free-form, project-based buy agreement”
and “bundle sell, project-based”.

Option B : Create two contract lines with a line type each of “sell intent, free-form, project-based” and
“sell intent, item, project-based”.

Option C : Create two contract lines with a line type each of “product, project-based, sell agreement,
standalone” and “sell intent, item, project-based”.

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 Option D : Create two contract lines with a line type each of “sell intent, item, project-based’ and
“subscription, project-based, sell”.

Correct Answer: B

QUESTION: 5

Your customer wants to assign the Net 45 payment term to all sets except for the corporate business unit
specific set, which is assigned the Net 15 payment term. At transaction entry, the list of values for payment
terms consists of only one set of data: the set that is assigned to the transaction's business unit. Which
reference data sharing method would you set up to meet the customer requirement? (Choose the best
answer.)

Option A : assignment to one set only with common values

Option B : assignment to one set only; no common values allowed

Option C : assignment to multiple sets; common values allowed

Option D : assignment to multiple sets; no common values allowed

Correct Answer: D

Explanation/Reference:

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

structures.html#FACIA462453Reference Data Sharing MethodsVariations exist in the methods used to share data in reference

data sets across different types of objects. Thefollowing list identifies the methods:Assignment to one set only, no common

values allowed. This method is the simplest form of sharingreference 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 sharedacross 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 ofsharing 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. Youneed not explicitly assign the transaction types to each business unit. In addition, you

can assign a businessunit-specific set of transaction types. At transaction entry, the list of values for transaction types includes

thefollowing: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 areference data object instance to be assigned to multiple sets. For instance, Payables Payment Terms use

thismethod. It means that each payment term can be assigned to one or more than one set. For example, you assignthe

payment term Net 30 to several sets but assign Net 15 to a set specific only to your business unit. Attransaction entry, the list

of values for payment terms consists of only the set that is assigned to thetransaction's business unit.Note: Oracle Fusion

Applications contains a reference data set called Enterprise. Define any reference datathat affects your entire enterprise in this

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set. Also update the data set going forward as you create newreference data items.

QUESTION: 6

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

Option A : Exceptions

Option B : Accounting Calendar

Option C : Workday Patterns

Option D : Time Off

Option E : Expenditure Type

Correct Answer: A,C

Explanation/Reference:

Reference https://docs.oracle.com/cloud/latest/projectcs_gs/FAPFM/FAPFM1192914.htmTopic – Creating Calendars for Projects

and Resources: ProcedureProject Schedules are used as a base for project and resource calendars in Project Execution

Managementapplications. The smallest scheduling unit is a day. For example, you can define the number of hours in a daybut,

you can't schedule work for a specific time of the day.The following are the elements of a schedule:ShiftsWorkday

patternsExceptions

QUESTION: 7

A project administrator is trying to assign a team member for a project but cannot find the person in the
teammember list on the Project Definition page. What is the reason for this problem? (Choose the best
answer.)

Option A : The employee is not assigned to the project-owning organization.

Option B : The employee is not assigned with a supervisor.

Option C : Project roles are not assigned in the project.

Option D : The employee is not assigned to a department.

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 Correct Answer: D

Explanation/Reference:

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-foundation-configuration-define-

project-resource-breakdown-structures.html#OAPFM180158_2Why can't I find persons in the list of resources when I enter

team members, planning resources, orperson rate schedules?You can't find persons in the list of resources when you enter

team members, planning resources, or personrate schedules in the following situations:The administrator didn't assign a

department while creating users. Persons must have an activeassignment and be assigned to a department in Oracle Fusion

Human Capital Management before theycan be added as team members or entered as resources on the planning resource

breakdown structure orperson rate schedule.The resource isn't active in Oracle Fusion Human Capital Management because

the current date isbefore 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 todisplay people with terminated assignments. You can set the profile value appropriately at the

siteprofile level using the Specify Number of Days to Display People with Terminated Assignments task inthe Setup and

Maintenance work area.

QUESTION: 8

Identify the precedence order in which cost rates are determined for a planning resource when deriving raw
costs for rate-based planning resources. (Choose the best answer.)

Option A : Override rate > Job rate schedule > Resource class rate schedule > Person rate schedule

Option B : Person rate schedule > Job rate schedule > Resource class rate schedule > Override rate

Option C : Job rate schedule > Resource class rate schedule > Override rate > Person rate schedule

Option D : Override rate > Person rate schedule > Job rate schedule > Resource class rate schedule

Option E : Resource class rate schedule > Override rate > Job rate schedule > Person rate schedule

Correct Answer: D

Explanation/Reference:

Reference https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_8718794B26A7BB93E040D30A688149A3

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QUESTION: 9

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.)

Option A : Accounting date is the same as the original invoice date.

Option B : Project accounting date is the same as the original invoice date.

Option C : Project accounting date is the first day of the first open project accounting period.

Option D : Project accounting date is the last day of the open project accounting period.

Option E : Accounting date is the first day of the first open accounting period.

Correct Answer: A,B

QUESTION: 10

You cannot generate invoices for a project expenditure item. After running the Generate Invoices program
fora billable expenditure item and active contract, the process completes successfully but without any billing,
anddoes not provide any error logs.The program’s processing summary is as follows:Billing Event Errors
0Ineligible Contracts 0Successfully Billing Events Created 0Ineligible Contract Lines 0Billing Transaction
Exception Errors 0Ineligible Bill Plans 0Billing Transaction Exception Warnings 0Ineligible Associated Projects
0Successful Billing Transactions 0Ineligible Expenditure Items 0Draft Invoice Exception Errors 0Ineligible
Events 0Draft Invoice Exception Warnings 0Successful Draft Invoices 0What was the invoice method
classification set to that caused this behavior? (Choose the best answer.)

Option A : Amount Based

Option B : Rate Based

Option C : As Incurred

Option D : Percent Complete

Correct Answer: A

Explanation/Reference:

Reference https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJB/F1087458AN139C2.htmTopic – Invoice and Revenue

Rates: How They Are DeterminedOracle Fusion Project Billing uses bill rates, burdening, and transfer price schedules to derive

standard billrates, multipliers, markups, and bases for calculating potential revenue when the revenue method classificationon

a revenue plan is as billed, as incurred, or rate based. Similarly, bill rates derive invoice amounts when theinvoice method

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classification on a bill plan is rate based.

QUESTION: 11

You are currently involved in the implementation of the Project Financial Management solution for your client
organization. Your client organization has two main lines of business: Consulting and Support. Consulting
Services and Support Services organizations have different project planning, management, analysis and
reporting requirements for the projects that they manage, though the management reporting and
transaction processing requirements are the same for both the organizations. What will be your
recommendation?

Option A : Define One Business Unit and Two Project Units

Option B : Define Two Business Units and Two Project Units

Option C : Define One Business Unit and Three Project Units

Option D : Define Two Business Units and One Project Unit

Correct Answer: A

QUESTION: 12

You have defined two expenditure types but they are not available for selection when you enter an
expenditure batch. What is the reason for this problem?

Option A : The two expenditure types are not assigned to the reference data set that is assigned to the
project expenditure organization in which the transaction is performed

Option B : The two expenditure types are not assigned to the reference data set that is assigned to the
project unit in which the transaction is performed.

Option C : The two expenditure types are not assigned to the reference data set that is assigned to the
business unit in which the transaction is performed

Option D : The two expenditure types are not assigned to the reference data set that is assigned to the
project-owning organization in which the transaction is performed.

Correct Answer: C

QUESTION: 13

Your organization has decided to enable the common accounting and project accounting periods option while

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defining business unit implementation options. Where will you maintain the accounting period statuses if this
option has been enabled?

Option A : Project Foundation

Option B : Project Costing

Option C : General Ledger

Option D : Subledger Accounting

Correct Answer: A

QUESTION: 14

Stigma Consulting wants to implement the program management capability to coordinate and track their
strategic programs. Which three components are required to configure the program options as part of
implementing the program management capability? (Choose three.)

Option A : Calendar

Option B : Calculation Methods

Option C : Derivation Methods

Option D : Currencies

Option E : Accounting Methods

Correct Answer: A,C

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