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Oracle Project Management Cloud 2022 Implementation Professional Sample Questions (Q20-Q25):

NEW QUESTION # 20
Your customer wants to perform billing based on the Percent Spent invoice method. Identify two setups that are required in project contracts for calculating invoice amounts as per their requirement. (Choose two.)

• A. bill plan
• B. invoice method
• C. billing events
• D. billing controls
• E. expenditure items

Answer: A,D

Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjb/create-customer-contract.html#OAPJB70183 Bill Plan - Create a bill plan within a contract that uses the invoice method you require. Assign the bill plan to one or more contract lines. A set of instructions on a contract that define how to invoice a customer. Multiple contract lines on a contract can use the same or different bill plans. Invoice Method is used in creating Bill Plan - not a separate setup.
Billing Controls - Contract feature that controls the types of transactions, dates, and amounts a customer may be invoiced for and revenue can be recognized for a contract or contract line. Define billing controls at the contract or contract line level.
Topic - Creating a Contract for Percent Spent Invoice and Revenue Methods: Worked Example This example describes a scenario where transactions for a contract line need to be invoiced and the revenue recognized using the percent spent method.
What are the revenue and invoice method classifications? Percent Spent What is the billing extension calculation level for the contract line and project association? Project level Summary of the Tasks Create a contract, create the percent spent contract lines, create the bill plan, create the revenue plan.
Prerequisites
Create a project.
Create the project plan for percent spent revenue. Specify the plan type on the percent spent billing extension.
Create an approved cost budget.
Create cost and burden rates.
Enter labor and expense transactions for the project.
Collect costs for the transactions.
Configuration Steps
Creating the Contract
Creating the Percent Spent Contract Lines
Creating the Bill Plan - A set of instructions on a contract that define how to invoice a customer. Multiple contract lines on a contract can use the same or different bill plans.
Creating the Revenue Plan - Common set of instructions for recognizing revenue within a contract. Multiple contract lines on a contract can use the same or different revenue plans.
Invoice method classifications determine how transactions are invoiced. The invoice method determines how invoice amounts are derived.
Enter an invoice method on a bill plan, which you create for a contract and assign to contract lines to provide a set of instructions for creating an invoice.
Create billing controls for a contract or contract line to define the valid transaction dates, billing resources, and amount limits for transactions associated with the contract.
Generate invoices to calculate the invoice amounts for a contract.
The following figure illustrates the components of a project and a contract that determine invoice amounts, and the relationships between the components.

NEW QUESTION # 21
Which two statements describe how the Resource Qualification Score is calculated?

• A. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource has the qualification that meets the specified proficiency.
• B. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource has the qualification with a proficiency that is lower or higher than specified.
• C. An individual's score is 100% if the resource request has a qualification, but no proficiency is specified, and the resource has the qualification.
• D. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource does not have the qualification.

Answer: A,B

NEW QUESTION # 22
You are implementing Project Portfolio Management (PPM) for a professional services firm. The firm rents multiple buildings for its operations. At the end of each month, they review the rent expense for the month and want to allocate the rental cost to all the projects and tasks that are executed by associates in each of the buildings. The source amounts must be proportionally allocated to the tasks based on the raw costs of the tasks from the previous month. Considering that all these costs are in General Ledger, what three allocation setups should you complete in PPM? (Choose three.)

• A. Allocate rental costs once each accounting period by using the "full" allocation method.
• B. Allocate rental costs once each accounting period by using the "spread evenly" allocation method.
• C. Define allocation basis by using Actual Amounts with a period-to-date amount class.
• D. Allocate to all eligible tasks and prorate the allocation by the total actual raw cost accrued for each task during the previous accounting period.
• E. Define allocation basis by using Actual Amounts with a project-to-date amount class.

Answer: A,C,D

NEW QUESTION # 23
Which two statements are true about the borrowed and lent cross charge method? (Choose two.)

• A. This method creates accounting entries that move an amount equal to the transfer price between the provider and receiver organizations
• B. You must set up a contract business unit to use this method.
• C. Internal Invoice is not generated with this method.
• D. This method allows you to process cross charge transactions across legal entities.

Answer: B,C

NEW QUESTION # 24
Which setup option is common to both financial and project plan types?

• A. Manage the options for creating control budgets in Oracle Fusion Budgetary Control.
• B. Identify whether the plan type is the default selection when you create budget or forecast versions.
• C. Enable the use of a workflow for managing budget or forecasting status changes.
• D. Enable the entry of plan amounts in currencies other than the project currency.

Answer: D

Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-control-configuration-manage-financial-and-project-plan-types.html#OAPFM75315 Financial and Project Plan Setup Options The following table describes the basic budget, forecast, or project plan setup options that determine how a plan type is used in the context of a project. Except for third-party scheduling, you can't edit these options at the project level.
Option
Location
Description
Planning amounts
Financial plan type
Indicates that the financial plan type supports the creation of versions with the following amounts:
Cost amounts
Revenue amounts
Both cost and revenue amounts
Either cost or revenue amounts
Approved budget or primary forecast
Financial plan type
Determines whether a financial plan type is used for creating approved budget versions or primary forecast versions that are used for plan comparison or project performance reporting.
Default financial plan type
Financial plan type
Determines whether the financial plan type is the default selection when you create budget or forecast versions.
Workflows
Financial plan type
Enables the use of a workflow for managing budget or forecast status changes.
Third-party scheduling software
Project plan type
Indicates whether project planning is performed in Microsoft Project.
If third-party scheduling is disabled in the project plan type, you can use the associated project or project template to create a project in Microsoft Project. However, you can't export the new project or link it to one created in Oracle Fusion Project Portfolio Management.
Multiple transaction currencies
Financial and project plan type
Enables entry of plan amounts in currencies other than the project currency.
Budgetary control settings
Financial plan type
Manages options for creating control budgets in Oracle Fusion Budgetary Control.

NEW QUESTION # 25
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