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Oracle Project Management Cloud 2024 Implementation Professional Sample Questions (Q10-Q15):

NEW QUESTION # 10
What are three configuration items that you need to set up by using the Project Organizations functional area in Project Financial Management configurations? (Choose three.)

A. Manage Project Unit Organizations
B. Manage Project Unit Options
C. Mange Project Types
D. Mange Business Unit
E. Manage Project Organization Classifications

Answer: A,B,E

Explanation:
Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/define-project- organizations.html#OAPFM3094543 Topic - Manage Project Unit Organizations

NEW QUESTION # 11
A consulting services company is currently working on a business transformation project for your client, which spans multiple years. At the first period close, the consulting services company has recognized revenue and the accounting entry created is:
Dr Unbilled Receivables 40,000
Cr Revenue 40,000
At the end of the period, the client is sent an associated bill. What would be the corresponding invoice accounting entry? (Choose the best answer.)

A. Dr Accounts Receivables 40,000Cr Revenue 40,000
B. Dr Unearned Revenue 40,000Cr Accounts Receivables 40,000
C. Dr Accounts Receivables 40,000Cr Unbilled Receivables 40,000
D. Dr Unearned Revenue 40,000Cr Revenue 40,000

Answer: C

Explanation:
When the invoice is created, the unbilled receivables balance is reduced and the accounts receivables balance is increased by the invoice amount. This is because the revenue has already been recognized and the invoice is just a request for payment from the customer.Reference:https://docs.oracle.com/en/cloud/saas/project- portfolio-management/20c/oapfm/project-accounting.html#OAPFM2355710

NEW QUESTION # 12
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.)

A. project classification
B. project type
C. project unit
D. project organization

Answer: B

Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjf/define-project.
html#OAPJF220111
Asset Cost Allocation Methods
The asset cost allocation method determines how indirect or common costs incurred on a project are allocated to multiple assets.
You can specify an asset cost allocation method to enable Oracle Fusion Project Costing to automatically allocate unassigned asset lines and common costs across multiple assets. Unassigned asset lines typically occur when 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 also override the asset cost allocation method at the event level Asset Cost Allocation Methods The following table describes the available asset cost allocation methods.
Method
Basis of Cost Allocation
Actual Units
Number of units defined for each asset
Current Cost
Construction-in-process (CIP) cost of each asset
Estimated Cost
Estimated cost of each asset
Standard Unit Cost
Combination of the standard unit cost and the number of units defined for each asset Spread Evenly Equal allocation of cost to each asset

NEW QUESTION # 13
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 classification with a revenue method of Percent Spent.
B. Create a revenue method with a revenue method classification of Amount Based.
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 # 14
Which three features are part of Oracle Fusion Functional Setup Manager?

A. feature opt-in for a best fit configuration
B. modifying an existing implementation project task list by selecting more functional areaswhen needed
C. guided task list for end-to-end setup requirements
D. updating an implementation project task list by changing the opt-in configuration to suit the latest requirements
E. export and import services for setup data migration between environments

Answer: A,C,E

Explanation:
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

NEW QUESTION # 15
......

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