Pass the Oracle Project Financials Management Cloud 1z0-1057-24 Questions and answers with ExamsMirror

The Project Integration Specialist role should be assigned to a user for using the rapid implementation feature to set up the Project Financial Management offering by populating and uploading a Microsoft Excel workbook. This role allows the user to access the Functional Setup Manager and perform the common setups for project costing and billing using predefined templates and spreadsheets. The user can also monitor and validate the setup data using reports and dashboards. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2356151

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

Referencehttps://docs.oracle.com/clou d/latest/projectcs_gs/FAPFM/FAPFM1225328.htm

Project Control is the product offering that simplifies the planning, budgeting, and forecasting capabilities as part of Project Management Cloud. Project Control allows you to create and manage project plans, budgets, and forecasts using various methods andsources. You can also monitor and control project performance and variances using dashboards and reports. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-plans.html#OAPFM2356061

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/ 19b/oapjf/manage-project-plan-tasks-and-task-assignments.html#OAPJF75076

Referencehttps://d ocs.oracle.com/cloud/latest/projectcs_gs/OAPEM/OAPEM1122096.htm

The following table lists the project statuses and what you can do with projects in that status.

Project Status

What you can do?

Draft

Project managers can view draft projects in the Project Manager Dashboard and use the projects for requirements planning.

Team members can't see the tasks from draft projects on the Team Member Dashboard or in the My Work area.

Active

Project managers can view active projects in the Project Manager Dashboard and use the projects for requirements planning, project execution, and reporting.

Team members can view task assignments on active projects on the Team Member Dashboard and My Work area.

Pending Close

Project managers can view pending projects in the Project Manager Dashboard and use the projects for project tracking, and reporting.

Team members can view task assignments on pending projects on the Team Member Dashboard and My Work area.

Submitted

Project managers can view submitted projects in the Project Manager Dashboard and use the projects for project tracking, and reporting.

Team members can view task assignments on submitted projects on the Team Member Dashboard and My Work area

Closed

Project managers can't view closed projects in the Project Manager Dashboard or use the projects for requirements planning, project execution, and reporting.

Team members can't view tasks of closed projects on the Team Member Dashboard or in the My Work area.

Ref:https://docs.oracle.com/en/cloud/saas/project-portfoli o-management/19b/oapjb/manage-project-contract-revenue.html#OAPJB164173

Associated Project Percent Spent Example

The following formula calculates the percent spent revenue for the associated project.

((Sum of ITD Actual Cost for every subtask that is part of the associated task/Sum of Total Budgeted cost for every task that is part of associated task)

xAssociated Project Funded Amount) – Sum of Existing Invoice Event Amounts for the Associated Project

((60/300) x750) – 80 =70

((Actual Cost / Budgeted Cost) x Budgeted Revenue) – Sum of Revenue Event Amount

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapem/define-project-deliverables.html#OAPEM1122079

Associate deliverables with one or many tasks or requirements at any level. Associate existing deliverables to tasks or requirements or create deliverables directly for tasks or requirements. You can delete a deliverable in New status if it is not associated with tasks or requirements.

Can deliverables for projects and tasks be inherited from associated requirements?

No.A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.

You associate a deliverable with a task, independent of associating a requirement with a task.

Referencehttps://docs.oracle.com/en/cloud/saas/applications-common/r13-update17d/faser /implementing-security-in-oracle-fusion-project-portfolio-management.html#FASER1722595

Ref to “Securing Project Financial Management and Grants Management Applications”

Table lists predefined enterprise roles and the type of security that grants the role access to data in a work area or dashboard.

Enterprise Role

Work Area or Dashboard

Data Security Based On

Project Accountant

Asset

Project business unit

Project Accountant

Costs

Project expenditure business unit

Project Accountant

Revenue

Contract business unit

Project Administrator

Project Financial Management

Project business unit

Project organization

Project Billing Specialist

Invoices

Contract business unit

Project Creator

Project Financial Management

Project business unit

Project organization

Project Management Duty

Project Management Infolet Dashboard

Project assignment

Project Management Duty

Project Performance Dashboard

Project assignment

Project Manager

Project Management Infolet Dashboard

Project assignment

Project Manager

Project Performance Dashboard

Project assignment

Project Manager

Project Management

Project assignment

Project Manager

Project Manager Dashboard

Project assignment

Project Team Member

Project Financial Management

Project assignment

Grants Accountant

Invoices

Contract business unit

Grants Accountant

Revenue

Contract business unit

Grants Administrator

Awards

Contract business unit

Grants Administrator

Contracts

Contract business unit

Grants Administrator

Project Financial Management

Project business unit

Principal Investigator

Awards

Award assignment

Principal Investigator

Contracts

Award assignment

Principal Investigator

Project Financial Management

Project assignment

The employees and contingent workers will be able to modify their time cards in the Time work area. This work area allows them to enter, review, edit, and submit their time cards for approval. They can also view the status and history of their time cards and make corrections as needed. The Time and Cost work area allows the project managers and cost accountants to review, adjust, and transfer time card transactions to projects and tasks. The Asset work area allows the asset managers and cost accountants to review, adjust, and transfer asset transactions to Oracle Fusion Assets. These work areas are not used by the employees and contingent workers to modify their time cards. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-time-and-labor.html#OAPFM2356221