Oracle 1z0-1057-24 - Oracle Project Management Cloud 2024 Implementation Professional

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-manag ement/19a/oapfm/project-foundation-configuration-manage-project-types.html#OAPFM220111

Topic – Asset Cost Allocation Methods: Explained

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 assetgrouping 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.

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

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapfm/project-control-configuration-manage-spread-curves.html#OAPFM79760

Predefined Spread Curves

Name

Description

Dist. Factors

Even

Linear distribution of financial or project plan values across periods.

10-10-10-10-10-10-10-10-10-10

Prorated Even

Linear distribution of financial or project plan values across periods, with an exception of the first period and last period in the financial plan. Financial or project plan values for the first period and last period are prorated based on the number of days in the period.

10-10-10-10-10-10-10-10-10-10

Back Loaded

Back-loaded distribution of financial or project plan values across periods. Assigned amounts increase over succeeding periods.

0-5-10-15-20-25-30-35-40-45

Front Loaded

Front-loaded distribution of financial or project plan values across periods. Assigned amounts decrease over succeeding periods.

45-40-35-30-25-20-15-10-5-0

S Curve

S-shaped distribution of financial or project plan values across periods.

18-10-8-10-15-17-18-17-15-8

Bell Curve

Bell-shaped distribution of financial or project plan values across periods. Assignment of plan values is highest in the middle periods.

0-4-10-12-14-12-10-4-0-0

Daily Spread Analysis

Spread is based upon the number of days in each financial period throughout the duration of the task assignment. Amounts are proportionally distributed throughout all periods for the duration of the task assignment

None

Ref:https://docs.oracle.com/cd /E51367_01/projectop_gs/OAPJB/F1087456AN1006D.htm

What's a bill set?

Transactions originating from different bill plans with the same bill set number on a contract are included on the same invoice.If a contract has multiple bill plans and each have different values for the bill set, Oracle Fusion Project Billing creates a separate invoice for each bill plan

To perform revenue recognition based on the Labor and Non-labor Burden schedule types, you need to create a revenue method with a revenue method classification of Rate Based. This classification allows you to use the burdened cost rates of labor and non-labor resources as the basis for revenue recognition. The burdened cost rates are derived from the burden schedules that are assigned to the project or task. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-revenue.html#OAPFM2355981

Referencehttps://docs.oracle.com/cloud/farel8/projectcs_ gs/OAPEX/F1082603AN23E61.htm

Manage Project Enterprise Labor Resource Maintenance Conditions

Project Enterprise Labor Resources: How They Are Automatically Created and Maintained

Run the Maintain Project Enterprise Labor Resources process to create resources, remove resource availability for staffing, and maintain the resource search index.

Settings That Affect the Maintain Project Enterprise Labor Resources Process

Create and maintain project enterprise labor resources by defining a set of conditions that specify the employees and contingent workers in Oracle Fusion Human Capital Management (HCM) to create as resources in Oracle Fusion Project Portfolio Management. Define the resource attribute values, such as the resource calendar and primary project role, to assign to the new resources.

The following table lists the criteria that you define for selecting HCM persons to create as project enterprise labor resources.

Selection Criteria

Description

Person type

Select the HCM person type for the process to use as criteria when selecting HCM persons to create as resources. Available person types are employees, contingent workers, orboth employees and contingent workers.

Option to select people based on job

Select this option for the process to create resources for HCM persons with specific jobs.

CautionIf you do not select job criteria for this condition, the process will create resources for all eligible people based only on the person type.

Jobs

If you selected the option to select people based on job, then select the jobs for the process to use as HCM person selection criteria.

The following table lists the attributes for which you specify values to assign to resources that are created for the condition.

Resource Attribute

Description

Option to manage resource availability and staffing

Select this option for resource managers to manage the availability and project staffing of resources who are created based on the condition. Resources who are managed in Oracle Fusion Project Resource Management are eligible to fulfill project resource requests.

Calendar

Select the resource calendar for resources that are created based on the condition. The resource calendar defines the work schedule for project enterprise labor resources, and includes working days and hours and any exceptions, such as holidays.

Primary project role

Select the primary project role for resources that are created based on the condition. Project roles are maintained in Oracle Fusion Project Management.

Cost rate and currency

Enter the cost rate and currency for resources that are created based on the condition.

Bill rate and currency

Enter the bill rate and currency for resources that are created based on the condition.

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjc/process-project-co st-transactions.html#OAPJC284872

What's a borrowed and lent processing method?

A method of processing cross-charge transactions that generates accounting entries to share revenue or transfer costs from theprovider organization to the receiver organization within a legal entity.An internal invoice isn't created but costs or revenue are sharedbased on the transfer price rules.This method provides a financial view of the performance of an organization.

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/proj ect-foundation-configuration-define-types-and-categorizations.html#OAPFM222700

Topic - Manage Project Class Categories

Setting Up Class Categories: Points to Consider

Available as Accounting Source

This option indicates if theclass category is available as an accounting source so that Oracle Fusion Subledger Accounting can use the category to create mapping sets, account rules, journal line rules, and description rules.

Only one class category at a time is available as an accounting source in Oracle Fusion Subledger Accounting. To change the class category that Oracle Fusion Subledger Accounting uses, deactivate the old class category and create a new one with a different date range.

The expenditure type class that is recommended for the expenditure types that need to be defined for work order labor and equipment resource transactions is Work In Process. This class indicates that the transactions are related to work orders that are performed as part of a project-driven supply chain solution. This class also allows the transactions to be processed by Oracle Fusion Manufacturing applications and transferred to Oracle Fusion Project Costing applications. Supplier Invoice is not a valid expenditure type class for work order labor and equipment resource transactions. This class indicates that the transactions are related to supplier invoices that are entered in Oracle Fusion Payables applications and transferred to Oracle Fusion Project Costing applications. Usages is not a valid expenditure type class for work order labor and equipment resource transactions. This class indicates that the transactions are related to material usages that are entered in Oracle Fusion Inventory Management applications and transferred to Oracle Fusion Project Costing applications. Inventory is not a valid expenditure type class for work order labor and equipment resource transactions. This class indicates that the transactions are related to inventory movements that are entered in Oracle Fusion Inventory Management applications and transferred to Oracle Fusion Project Costing applications. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356311

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/fapfm/implementin g-project-execution-management-applications.html#FAPFM1724547

Topic – Submitting the Process to Maintain Project Resource Search Index: Procedure

Submit the Maintain Project Resource Search Index job set to update the resources that appear on the Search and Evaluate Resources page when a resource manager searches for resources to fulfill project resource requests. The job set consists of a set of processes that facilitate efficient and rapid searches for qualified resources.

Resource managers can't search for resources or view resource details if the search index isn't available for a project resource request with qualifications or keywords. For project resource requests without qualifications and keywords, resource managers can search for and evaluate resources based on resource availability even if the search index isn't current or available.

Caution:The search index isn't available if the Maintain Project Resource Search Indexjob set process fails, orwhile the process is running.

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