1Z0-511 Online Practice Questions and Answers

Correct Answer: BD

Incorrect:

Not A:Task types assign default attributes to tasks and control how Oracle Projects processes tasks.

Task types specify basic task attributes.

Not C:Work types represent a classification of work. You use work types to classify both actual and scheduled work. Not E:Oracle Projects uses start and finish dates to control processing, indicate estimated and scheduled duration, and

serve as tools to evaluate project performance.

The start and finish dates at the project level are:

Actual: Actual dates when work on the project started and finished. You can use these dates to drive future timecard and earned value functionality.

(not E)Scheduled: Scheduled start and finish dates for the project.

Target: The expected lifespan of the project.

Estimated: A task manager's estimate of when work on the project will be started and finished.

Baseline: The baselined schedule

Correct Answer: AB

Changes to these calendars impact the schedules of the person resources, requirements, and assignments differently. Oracle Project Resource Management provides the following administrative processes to help manage these changes and to maintain consistent schedule information throughout the application: PRC: Generate Calendar Schedule for a Single Calendar

PRC: Generate Calendar Schedules for a Range of Calendars PRC: Rebuild Timeline for a Single Resource

PRC: Rebuild Timeline for a Range of Resources

Correct Answer: B

One Customer, Multiple Agreements

Use multiple agreements when you have one customer, but a requirement to create a separate invoice for each top task.

You can use this method to accrue revenue cost-to-cost or impose hard or soft revenue limits by task, as well as automatically create separate invoices by task.

To create separate invoices by task, you must use a different agreement to fund each task. If you use more than one agreement for a single task, the agreements are used according to the precedence described earlier for projects.

Correct Answer: A

*Defining Retention Terms

Retention Terms determine how amounts are withheld from project invoices and how the withheld amounts are billed to the project customer. Retention terms include:

Withholding Terms

Withholding Terms by Expenditure Category

Withholding Terms by Event Revenue Category

Billing Terms

*Witholding Terms

These terms apply to all sources of project invoice amounts for the specified project or top task. For each term, you can define a withholding percentage or amount. Optionally, a threshold amount can be defined to determine the maximum

amount to be withheld per term.

Correct Answer: D

Oracle Projects uses the following expenditure type classes to process non-labor project costs: *Usages - Asset usage costs are interfaced to Oracle General Ledger. *Supplier Invoices - Oracle Payables supplier invoices are interfaced from Oracle Payables to Oracle Projects. *Miscellaneous Transaction - Miscellaneous Transactions are used to track miscellaneous project costs. This expenditure type class is similar to usages. The difference is that, for miscellaneous transactions expenditure items, you are not required to specify a non-labor resource or a non-labor resource organization, as you are for usage expenditure items. Miscellaneous transactions may be used for the following costs: Fixed assets depreciation Allocations Interest charges *Burden Transaction - Burden transactions track burden costs that are calculated in an external system or calculated as separate, summarized transactions. These costs are created as a separate expenditure item that has a burdened cost amount, but has a quantity and raw cost value of zero. Burden transactions are interfaced to Oracle General Ledger. As with any other transaction in Oracle Projects, you can adjust and capitalize burden transactions, or accrue revenue or generate invoices for these transactions. *Work In Process - This expenditure type class is used for Project Manufacturing WIP transactions that are interfaced from Manufacturing to Oracle Projects. You can also use this expenditure type class when you import other manufacturing costs via Transaction Import or when you enter transactions via pre-approved batch entry.

Correct Answer: B

Implement AutoAccounting to charge appropriate expense accounts

When you implement AutoAccounting, you can charge straight time costs to a labor expense account and overtime costs to an overhead or overtime expense account. To charge straight time and overtime to different accounts, you define an AutoAccounting rule based on expenditure type, expenditure category, service type, compensation rule, or labor cost multiplier.

Note: *Labor Cost Account Function When you run the PRC: Distribute Labor Costs process, Oracle Projects calculates labor cost amounts based upon employee labor cost rates and compensation rules. After calculating labor costs, Oracle Projects uses the Labor Cost Account transactions to debit an expense account for raw labor costs. *You need to define at least one overtime expenditure type. You use the Expenditure Types window to define overtime expenditure types classified by the Overtime expenditure type class.

Correct Answer: D

Note: *Project Type

The project type determines how Oracle Projects processes costs (expenditure items) for a project. The type you choose provides many defaults and controls for project entry and processing. You must choose a type from one of the following project type classes:

/Use an Indirect project type to collect and track expenditure item costs and labor hours for overhead activities, such as administrative and overhead work, marketing, and bid and proposal preparation. You can also define indirect projects to track time off including sick leave, vacation, and holidays

/Use a Capital project type to collect and track costs and labor hours for asset development activities which you plan to capitalize as one or more assets.

/Use a Contract project type to collect and track costs, labor hours, revenue, and billing for services performed for and reimbursed by a client

Correct Answer: BC

B:To define class categories and class codes:

1.Navigate to the Class Categories and Codes window.

2.Enter a unique Class Category name and a Description. 3.Specify whether the class category is mandatory for every project you define. Enable if all projects must have a code assigned to this class category. Do not enable if this class

category is optional. If you do not enable this option, you cannot use this class category in your AutoAccounting rules.

4.Specify whether you want to use the class category in your AutoAccounting rules. Suggestion: For each project, you can use only one code with one class category for use with AutoAccounting rules. If an AutoAccounting category already

exists within a particular date range, assign an end date to the existing AutoAccounting category and then create a new one. 5.Specify whether you want to allow entry of only one class code with this class category for a project. Note:

Defining multiple class codes for one category for a project may affect reporting by class category; defining multiple class codes may cause your numbers to be included more than once. 6.Enter the Name, Description, and Effective Dates for

each class code.

7.Save your work.

C:As part of a project template definition setup, you can choose which Quick Entry fields you want to define. Oracle Projects prompts you to enter information in these Quick Entry fields when you create a new project from a template. Choose

Quick Entry fields for project information you want to enter (instead of accepting the template default) each time you create a project.

Order: Enter a number to indicate the sequence in which you want the Quick Entry fields to appear.

Field name: Choose the fields you want to appear in the Quick Entry window when you create a new project.

Specification: You enter a specification for the following field names:

Key Member:Select the project role type to use when creating the key member Classification:Select the class category to use when creating the classification Customer Name: Select the customer relationship to use when creating the project

customer Prompt: You can enter a field name that is different from the predefined field name to display when you use Quick Entry.

Required: Choose whether you want to require entry for the Quick Entry field.

Correct Answer: A

Correct Answer: ACE

C:View Accounting Details

With the integration to Oracle Subledger Accounting, you now have the option to define account derivation rules within Oracle Subledger Accounting that will replace the default accounts generated by the Oracle Projects AutoAccounting feature.

E:Account Generation Rules During the upgrade, Oracle Grants Accounting creates default accounting definitions that allow the system to continue using existing AutoAccounting rules without additional setup steps. You may choose to create your own accounting definitions using Accounting Method