Oracle Project Management Cloud 2021 Implementation Essentials : 1Z0-1057-21

  • Exam Code: 1Z0-1057-21
  • Exam Name: Oracle Project Management Cloud 2021 Implementation Essentials
  • Q & A: 93 Questions and Answers

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Oracle 1Z0-1057-21 Exam Syllabus Topics:

SectionObjectives
Topic 1: Project Execution Management- Project Control
  • 1. Forecasts
  • 2. Performance Reporting
  • 3. Budgets
- Project Planning
  • 1. Work Plans
  • 2. Task Management
  • 3. Resource Assignments
Topic 2: Project Foundation Setup- Project Units
  • 1. Business Units
  • 2. Reference Data Sets
  • 3. Implementation Options
Topic 3: Project Financial Management Setup- Financial Structures
  • 1. Expenditure Categories
  • 2. Expenditure Types
  • 3. Transaction Sources
- Project Types and Templates
  • 1. Project Classes
  • 2. Project Statuses
  • 3. Project Roles
Topic 4: Project Cost Management- Cost Collection and Processing
  • 1. Expense Management Integration
  • 2. Supplier Cost Processing
  • 3. Cost Transactions
- Cross-Charge Processing
  • 1. Transfer Pricing
  • 2. Borrowed and Lent Transactions
Topic 5: Resource Management- Resource Structures
  • 1. Resource Requests
  • 2. Project Staffing
  • 3. Resource Calendars
Topic 6: Project Billing and Revenue Management- Contract and Billing Setup
  • 1. Invoice Generation
  • 2. Revenue Recognition
  • 3. Billing Events
Topic 7: Security and Implementation Tools- Security Configuration
  • 1. Data Access Security
  • 2. Project Roles
- Implementation Utilities
  • 1. Functional Setup Manager
  • 2. Setup Data Migration
  • 3. Rapid Implementation Spreadsheets

Oracle Project Management Cloud 2021 Implementation Essentials Sample Questions:

Question #1

Your customer complains that their project resources do not report their time promptly, which has resulted in incorrect reporting of project performance. What should you do to fix this problem? (Choose the best answer.)

  • A. Enable track missing time atbusiness unit.
  • B. Enable track missing time at project type.
  • C. Enable track missing time at project template.
  • D. Enable track missing time at
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Question #2

In your customer site, the capitalized interest calculation is implemented on their project types. Which option represents the costs considered in the interest calculation? (Choose the best answer.)

  • A. expenditure items whose cost spreads across multiple assets that are capitalized
  • B. expenditure items whose costs are applied to a single asset or multiple assets
  • C. expenditure type exclusions on the Capitalized Interest rate name
  • D. expenditure type exclusions on the Capitalized Interest rate schedules
  • E. common costs on the project/task
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #3

Your organization has created an Enterprise Project Structure (EPS) and your executives review the overall project labor demand by using the EPS. Identify two correct statementsabout the periodic project labor demand. (Choose two.)

  • A. Labor Demand FTE is calculated as Quarterly Allocation hours divided by Quarterly FTE hours, if a quarter is used as the basis for viewing labor demand.
  • B. Labor Demand FTE is calculated as Project Allocation hours divided by Project FTE hours, if project duration is used as the basis for viewing labor demand.
  • C. Labor Demand FTE is calculated as Monthly Allocation hours divided by Monthly FTE hours, if a period is used as the basis for viewing labor demand.
  • D. Labor Demand FTE is calculated as YearlyAllocation hours divided by Yearly FTE hours, if a year is used as the basis for viewing labor demand.
Reveal Solution  Discussion  0

Correct Answer: A,D  🗳️

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Question #4

Identify two attributes for which you can enter budgets that will be considered for Budgetary Controls in Project Portfolio Management. (Choose two

  • A. project classification
  • B. resource
  • C. expenditure item
  • D. project plan type
  • E. project
Reveal Solution  Discussion  0

Correct Answer: B,E  🗳️

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Question #5

A consulting services company is currently working on a businesstransformation 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 theperiod, 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 Revenue 40,000
  • C. Dr Accounts Receivables 40,000Cr Unbilled Receivables 40,000
  • D. Dr Unearned Revenue 40,000Cr Accounts Receivables 40,000
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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