Oracle Updated 1z0-1057-22 Exam Questions and Answers by damir

Ref: Implementing-Project-Financial-Management-and-Grants-Management.pdf (19A Part # F11256-01)

Chapter 3 – Define Project Organizations

Topic - Set Assignments and Project Data – How They Work Together (Page 29)

Business Unit as Set Determinant

Business units enable you to control and report on financial transactions, usually for specific geographical entities within the enterprise. For project management purposes, assign the Project Accounting business function to the business unit.

Business unit is a set determinant for the project-related reference data objects described in the following table.

Ref Data Object

Entities

Project Accounting Definition

Project Types

Project Rates

Project rate schedules

Project Unit as Set Determinant

Use project units to enforce consistent project management practices across your enterprise. Project unit is a set determinant for the reference data objects described in the following table.

Ref Data Object

Entities

Project Definition

Class codes, financial plan types, project plan types and project roles

Project Transaction Types

Expenditure types and work types

You can only select class codes, plan types, roles, expenditure types and work types that are assigned to the same set as the project unit. To enable expenditure types and work types for use on projects owned by a project unit, assign the set associated with the Project Transaction Types reference data object to those entities

Project gate statuses are values that indicate the progress or completion of a project gate. A project gate is a checkpoint that marks the end of a phase or stage in a project lifecycle. Three of the project gate statuses are:

• Open: This status indicates that the project gate is not yet ready for review or approval.
• In Review: This status indicates that the project gate is under review or approval by the gate reviewers or approvers.
• Closed: This status indicates that the project gate has been reviewed or approved and the project can move to the next phase or stage. Approve and Draft are not project gate statuses, but actions that can be performed on a project gate. Approve is an action that allows a gate approver to approve a project gate and change its status to Closed. Draft is an action that allows a gate owner to create or edit a project gate and change its status to Open. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-execution.html#OAPFM2356251

Reference https://docs.oracle.com/cloud/latest/projectcs_gs/OAPJF/OAPJF1121937.htm#OAPJF1121937