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Oracle Project Management Cloud 2021 Implementation Essentials Sample Questions:

1. 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 reviewthe 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) Define allocation basis by using Actual Amounts with a project-to-date amount class.
B) Allocate rental costs once each accounting period by using the "spread evenly" allocation method.
C) Allocate rental costs once each accounting period by using the"full" allocation method.
D) Define allocationbasis by using Actual Amounts with aperiod-to-date amount class.
E) Allocate to all eligible tasks and prorate the allocation by thetotal actual raw costaccrued for each task during theprevious accounting period.

2. Your organization has been awarded a new contract based on which you are allowedto sell:
* Items not tracked in inventory
* Inventory items
* Services
Which contract structure would fulfill your requirement of item sales? (Choose the best answer.)

A) Create two contract lines with a line type each of "sell intent, item, project-based' and "subscription, project-based, sell".
B) Create two contract lines with a line type each of "product, project-based, sell agreement, standalone" and "sell intent, item, project-based".
C) Create two contract lines with a line type each of "free-form, project-based buy agreement" and "bundle sell, project-based".
D) Create two contract lines with a line type each of "sell intent, free-form, project-based" and "sell intent, item, project-based

3. Your company creates a separate project for infrastructure services, so as to track these costs separately and then allocateto various projects that use the services of the infrastructure team. You want to allocate these costs by first attributing a fixed percentage of the source amount to each project and then spread it across tasks based on the actual labor hours charged to each task.
Which allocation basis method would you use to meet this requirement? (Choose the best answer.)

A) spread evenly
B) target percentage and prorate
C) prorate
D) target percentage and spread evenly

4. You have a billable project for which the following details are provided:
Associated Inception-To-Date (ITD) Project Actual Cost: USD 60
AssociatedProject Budgeted Cost: USD 300
Contract Amount: USD 1000
Project Funded Amount: USD 750
Sum of Existing Revenue Events: USD 80
Identify the Associated Project Spent revenue that will get generated based on the preceding details. (Choose the best answer.)

A) USD 70
B) USD 184
C) USD 134
D) USD 120

5. Which two statements are true about the cross-charge method, Borrowed and Lent?

A) This method creates a formal internal invoice.
B) You must set up the contract business unit to use this method.
C) Costs or revenue are shared based on transfer price rules with this method.
D) This method creates accounting entries that move an amount equal to the transfer price between theprovider and receiver organizations within a legal entity.

Solutions: