Free Practice Questions for Oracle 1z0-1057-24 Exam

 If the Require Complete Asset Definition option is enabled on a project type, the “Transfer Assets to Oracle Fusion Assets” process will place asset lines with complete definition into the Hold queue in Oracle Fusion Assets. This queue holds the asset lines that require manual review and approval before they can be posted to the asset register. Asset lines with incomplete definition will be placed into the Error queue in Oracle Fusion Assets. This queue holds the asset lines that have errors or missing information that need to be corrected before they can be transferred to the Hold queue. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-assets.html#OAPFM2356041

Shift is one of the key elements in defining project and resource calendars. Two additional key elements that are required to define the project and resource calendars are:

Schedule Exceptions: These are dates or periods that override the regular workday patterns and shifts of a calendar. They can be used to define holidays, vacations, or other special events that affect the availability of resources or projects.

Workday Patterns: These are patterns of working and nonworking days that repeat over a period of time. They can be used to define the standard working days and hours for a calendar. Time off, expenditure type, and accounting calendar are not key elements in defining project and resource calendars. Time off is an attribute of a resource assignment that reduces the availability of a resource. Expenditure type is a classification of costs that determines how they are processed and accounted. Accounting calendar is a calendar that defines the accounting periods and dates for transactions. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-resources.html#OAPFM2356131

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

Ref:https://docs.oracle.com/cd/E48434_01/fusionapps.1118/e49622/F1125394AN6D254.htm

Primavera P6 Enterprise Project Portfolio Management and Oracle Fusion Project Portfolio Management: How They Work Together

Use Oracle Fusion Project Integration Gateway to integrate Oracle Fusion Project Portfolio Management with Primavera P6 Enterprise Project Portfolio Management. The integration enables project accountants, project billing specialists, and executives to centrallyperform project costing, billing, accounting, and executive reporting tasksin Oracle FusionProject Portfolio Managementwhileenabling each project manager to perform detailed project planning and scheduling in Primavera P6Enterprise Project Portfolio Management.

Oracle Fusion Project Integration Gateway ensures data security, integrity, and efficiency by defining a set framework in which data is exported from and imported into Oracle Fusion Project Portfolio Management.

The following table and diagram provide an overview of the flow of information.

Information Type

From Application

To Application

Global integration information

Oracle Fusion Project Portfolio Management

Primavera P6 Enterprise Project Portfolio Management

Projects and task definition

Oracle Fusion Project Portfolio Management

Primavera P6 Enterprise Project Portfolio Management

Summarized project actual quantity and cost

Oracle Fusion Project Portfolio Management

Primavera P6 Enterprise Project Portfolio Management

Project plans and progress

Primavera P6 Enterprise Project Portfolio Management

Oracle Fusion Project Portfolio Management

Billing events

Oracle Fusion Project Portfolio Management

Primavera P6 Enterprise Project Portfolio Management

Event completion

Primavera P6 Enterprise Project Portfolio Management

Oracle Fusion Project Portfolio Management

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.

Referencehttps://docs.oracle.com/cloud/farel9/projectcs_gs/FAUAR/F1537947AN10251.htm

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

The source that can be used while defining the account rule to achieve this requirement is Expenditure Organization Cost Center Segment. This source allows you to retrieve the value of the cost center segment based on the expenditure organization of the transaction. The expenditure organization is an attribute of a transaction that represents the organization that incurs or owns the cost of the transaction.

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.

 Project Management is the product offering that enables you to collaboratively plan and deliver projects by leveraging intuitive and integrated scheduling tools. Project Management allows you to create and manage project plans, tasks, deliverables, issues, milestones, gates, etc. using various methods and sources. You can also monitor and control project progress and performance using dashboards and reports. Resource Management is the product offering that enables you to optimize the utilization and allocation of resources for projects and tasks. Resource Management allows you to create and manage resource requests, assignments, pools, calendars, etc. using various criteria and sources. You can also monitor and analyze resource availability and demand using dashboards and reports. Project Control is the product offering that enables you to simplify the planning, budgeting, and forecasting capabilities for projects and tasks. Project Control allows you to create and manage project budgets, forecasts, financial plans, etc. using various methods and sources. You can also monitor and control project costs and variances using dashboards and reports. Project Costing is the product offering that enables you to capture and process project costs from various sources and applications. Project Costing allows you to create and manageproject transactions, expenditures, assets, etc. using various rules and options. You can also generate project costing and accounting entries using dashboards and reports. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/overview-project-financial-management.html#OAPFM2356301