Free Oracle 1z0-1057-24 Practice Exam with Questions & Answers

Ref:https://docs. oracle.com/en/cloud/saas/project-portfolio-management/19a/oapem/execute-project-tasks-and-deliverables.html#OAPEM1122082

Followers are persons who aren't working on the task but have an interest in reviewing the task progress. Only the resources and other followers can add followers to a task. If a resource assigns the task to another team member, the application automatically changes the original resource to a follower.

What's the difference between my tasks and tasks that I follow?

You can edit task details and enter progress for your tasks on the Manage Tasks page. If a task has multiple resources, only the primary resource can edit the task.

When you follow a task, you can view the task details and see the task activity stream. You receive e-mail notifications of changes that team members make to the task.

If a resource reassigns the task to another team member, then the previous resource automatically becomes a follower.

When you use Create Tree or Create Tree Version in the action menu, you create a new organization tree or a new version of an existing tree, respectively. These actions result in an Inactive status for the organization tree, until you activate it. When you use View Tree Version or select the Edit icon or click the name of the tree, you open an existing organization tree that has an Active status.Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-organizations.html#OAPFM2355921

Reference https://docs.oracle.com/cloud/latest/projectcs_gs/OAPFM/OAPFM1125361.htm#OAPFM1125277 (what’s a work type?)

In billing, you can use work types to classify work for the following purposes:

To determine the default billable status of expenditure items.

To classify cross-charge amounts into cost and revenue for cross-charge transactions.

Tip:To use work types to determine whether an expenditure item is billable you must set the profile option Work Type Derived for Expenditure Item toYes.

When you create or import expenditure items, the default work type is inherited from the associated task. Tasks, in turn, inherit work type values from parent tasks and ultimately from the project.Project types determine the default work type value for projects and project templates.

Referencehttps://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_87F467307D50416BE040D30A68 816855

Spread curves let you distribute quantity, cost, and revenue amounts automaticallyacross accounting or project accounting periods. You assign a spread curve to each resource class. Planning resources (in the planning resource breakdown structure) inherit the spread curve setting from the associated resource class. You can change the spread curve for the planning resource and for any corresponding task assignments, or budget or forecast lines.

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

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.

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

 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

Budget 5,000Actuals 800Commitment 600

ETC = Budget – Actuals – Commitment

ETC = 5,000-800-600 = 3,600 Budget available for next 4 months = 3,600/4 = 900/month

Referencehttps://fusionhelp.orac le.com/helpPortal/topic/TopicId_P_8718794B26A7BB93E040D30A688149A3