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Oracle Project Management Cloud 2023 Implementation Professional Sample Questions (Q112-Q117):

NEW QUESTION # 112
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?

A. Accounting date is the same as the original invoice date.
B. Project accounting date is the first day of the first open project accounting period.
C. Accounting date is the first day of the first open accounting period.
D. Project accounting date is the last day of the open project accounting period.
E. Project accounting date is the same as the original invoice date.

Answer: D

Explanation:
When an invoice is entered with an invoice date in the open project accounting and closed accounting periods, the accounting date is the same as the original invoice date, but the project accounting date is the first day of the first open project accounting period. This ensures that the invoice is accounted in the correct accounting period and recognized in the correct project accounting period. https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-invoices.html#OAPFM2355911

NEW QUESTION # 113
Your customer started operations and all projects in January 2015. They implemented Enterprise Project Structure for calculating project labor demand by using the Annual option. When they view the labor demand on 15-Dec-2015, the project hierarchy viewer shows data only for the year 2015. The client expected the demand to be shown for a year, from 15-Dec-2015 to 15-Dec-2016.
Identify how the project hierarchy viewer displays labor demand information. (Choose the best answer.)

A. The current date is used for calculating labor demand for the current year.
B. The current period start date is used for calculating labor demand for the current year.
C. The project start date of Jan-2015 was used for calculating labor demand, and hence it calculated the demand for the year 2015.
D. The date entered by a user as a parameter when running the Update EPS job was set to 01-Jan-2015, and hence the calculations show results for the year 2015.

Answer: A

Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapem/analyze-project-management-performance.html#OAPEM1313471 Topic - Project Labor Demand: How It,s Calculated Settings That Affect Project Labor Demand Project application administrators must do the following to set up how project labor demand is calculated:
Organize projects into hierarchical groups on the Manage Enterprise Project Structure page.
Change the quarterly FTE hours for the organization on the Define Project Management Implementation Options page, if different from 520 hours.
Note: You can choose to view labor demand annually instead of quarterly. The Project Hierarchy Viewer uses the current date to determine which year or quarter to display.

NEW QUESTION # 114
You are trying to create a project purchase order (PO) but you are unable to select Expenditure Organization in the PO. Identify two reasons for this problem.

A. The organization is not classified as a project expenditure organization.
B. The organization is not classified as a project-owning organization.
C. The organization is classified as a project unit.
D. The organization is not included in the organization tree that is assigned to the business unit that owns the PO.

Answer: B

Explanation:
Ref: Implementing-Project-Financial-Management-and-Grants-Management.pdf Chapter 3 - Define Project Organizations Page # 12 Topic - Selecting Organization Hierarchies for the Business Unit The following conditions are required for an organization to be eligible to be a project expenditure organization:
You must assign the Project Expenditure Organization classification to the organization.
The organization must belong to the hierarchy that you specify in the project implementation options for the business unit.

NEW QUESTION # 115
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 organization
B. project unit
C. project classification
D. project type

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 # 116
You are now the project manager of a newly created implementation project. Which two items are not part of managing an implementation project?

A. Assign tasks to various users who are responsible for managing setup data.
B. Generate a list of setup tasks.
C. Monitor the progress of completing setup tasks.
D. Select the offering you want to implement.
E. Enable optional functional areas and features by opting in.

Answer: C

Explanation:
Selecting the offering you want to implement and enabling optional functional areas and features by opting in are not part of managing an implementation project. These are part of configuring an implementation project, which is done before managing an implementation project. Configuring an implementation project allows you to define the scope and features of your implementation based on your business needs. Managing an implementation project involves assigning tasks to various users who are responsible for managing setup data, monitoring the progress of completing setup tasks, and generating a list of setup tasks. These are part of executing an implementation project, which is done after configuring an implementation project. Executing an implementation project allows you to perform the setup tasks and validate the setup data for your implementation. https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2356021

NEW QUESTION # 117
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Oracle Project Management Cloud 2023 Implementation Professional Sample Questions (Q112-Q117):

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