PPM - Financial Management

What options are selected initially for the Rapid Implementation Spreadsheet?

1- Industry 2- Burdening 3- Capital Projects 4- Project Billing 5- Cross-Charge Processing

What are the 3 components of defining Project Resources?

1- Job Mappings 2 - Resource Classes 3 - Nonlabor Resources

What are the 4 Resource Classes provided?

1- Labor 2 - Equipment 3 - Material Items 4 - Financial Resource

What are Rate Schedules applied against the four schedule types?

1- Nonlabor 2 - Person 3 - Resource 4 - Job

What are the two processes to Export Project Costing Transactions to External Applications?

1. Extract Cost Distributions for External Accounting 2. Extract Cross-Charge Distributions for External Accounting

How do you view the BPM Worklist?

Click on "Bell" Notifications icon, then click on Worklists

What are Expenditure Categories?

Creat Expenditure Categories to group expenditure types

What are the 3 Resource Class Attributes which can be assigned?

1 - Spread Curve 2 - Item Master & Category Set 3 - Expenditure Type

What are the 3 nonlabor resource attributes?

1- Expenditure Type - Determine rates used to calc cost and revenue. 2 - Equipment Resource Class - Equipment with capacity consumed in hours 3 - Organizations - Where the nonlabor resource is assigned

What are the two Create Accounting Options?

1- Accounting Options - For Raw Cost and Cost Adjustments on the Trx Type 2- Burden Accounting Options - Burden Costs on the Project Type (Involved)

What are the 3 Financial Plan Types?

1- Approved Cost Budget 2- Primary Revenue Forecast 3- Estimates (Driven on Forecasts)

What are the three calculation methods for Transfer Pricing of Raw Cost?

1- Basis only 2- Apply Burden Schedule 3 - Apply Rate Schedule

What are Work Types used to set?

1- Billable? 2- Transfer Price Amount Type 3 - Assigned Set

Data Access can be controlled at what levels?

1- Business Unit 2 - Project Organization Classification

What are the 2 ways to create a Project in PPM?

1- Copy from Template 2 - Copy from Existing Project

What are the setup steps for Burdening?

1- Cost Base - What % calculates against 2- Cost Codes - Differential different types of burden Expenditure Types 3- Burden Structure - Cost Bases and Cost Codes applied as Additive or Precedence 4- Burden Schedule - Multipliers and precedence, timing, variance of applicability to projects and tasks for a hierarchy

What are the 5 Project Control Configuration Setup Tasks?

1- Period Profiles - How to group periods used for budget, forecast, cost 2- Spread Curves - How cost and revenue spread over periods 3- Resource Class Spread Curves - Above, but can differ by resource class 4- Financial Plan Types = Controls scenarios and versions for planning 5- Project Plan Types - Default planning options that cascade to templates and project levels Note you go in order and 1-3 must happen to use in 4-5 (4-5) do not need to go in order.

What are the two business purposes for Project Controls?

1- Planning for projects, scope, resources, schedule 2- Controlling the actual, progress, forecasts and performance

What are the 3 steps after adding planning resources to a planning resource breakdown structure?

1- Preview planning resource breakdown structure 2- Update mappings and synchronize performance 3- Preview actual transaction associations

What are the two types of Organizations Classifications?

1- Project Expenditure Organization (Cost Planning, Financial Planning) 2- Project and Task Owning Organization (Reporting, Security, Billing/Revenue)

What 2 levels can Descriptive Flexfields be created?

1- Project Level 2- Task Structure Level

What are the two levels for Determinant Types?

1- Project Unit 2 - Business Unit

What levels allow for numbering of Projects?

1- Project Unit 2- Business Unit 3- Project Type

What accounting takes place for Burden Transactions on the same Accounting Event?

1- Raw Cost 2- Burden Cost 3 - Total Burdened Cost

What is the bottom up hierarchy for Reference Data Sharing

1- Reference Data Element (Hotel) 2 - Reference Data Set (Consulting Project Unit) 3 - Reference Group (Project Transaction Type) 4 - Reference Data Object (Expenditure Type) 5 - Determinant Type (Project Unit)

What type of cost distribution lines can be created for burden transactions?

1- Single line burdening 2- Separate line burdening

What are the four areas where Rate Schedules are created?

1-Costing 2-Billing 3-Work Planing 4-Financial Planning

What are the 3 areas where Project Resource Breakdown Structures are created?

1-Project and Financial Planning (combined) 2-Billing Controls (Contracts) 3-Project Performance Reporting

What are the 3 new features for PFM in 21C?

1. Inventory Item - Expenditure Type Resource Format available in Planning Resource Breakdown Structures 2. Planning Resource Breakdown Structure Updates for a Project - Enabled by Default 3. Attachments in Project Status Change Approval Workflow

When using OTL, what are the building blocks in Workforce Deployment?

1. Layout Sets (by Project, Payroll, Team Member filters) 2. User Group (Users Grouped that are able to Charger time to Projects) 3. Time Entry Profile (Quick pick applying a Layout Set and User Group) 4. Time Process Profile (Quick pick applying the same to how time is entered)

When enabling Encumbrance Accounting in tandem with Budgetary Control, where in Projects can you see the Funds Reservation window?

1. Manage Unprocessed Costs 2. Manage Project Costs 3. Manage Cost Distributions

What is the Precedence Order for Cost or Bill Rates for rate based planning resources?

1. Override Rate 2. Labor on Non Labor Rate Schedule 3. Job Rate Schedule 4. Resource Class Rate Schedule

When doing a Project Cost Allocation, what are the four Basis Methods against the Target Projects?

1. Prorate 2. Spread Evenly 3. Target Percentage and Prorate 4. Target Percentage and Spread Evenly

What are the 4 options for Forecast ETC Method?

1. Remaining Plan 2. Plan to Complete 3. Cost Performance Index Based 4. Manual Entry

What are the three major stages of building a Project Allocation?

1. Source (Variety of types of costs, raw, burden, capitalized) 2. Basis Method (Prorate, Spread Evenly, Target %) 3. Target (Number of Project Organizations, Projects, Tasks of even GL Account

When setting a Project Allocation, what are the offset methods?

1. Source Project and Task 2. Specific Project and Task 3. None

What are Organization Hierarchies as it relates to Projects?

Ability to align with HCM Organization or Department Tree Structures. Or create your own

What is capitalized interest?

Ability to capitalize interest expense above and beyond the core capitalization

MSP Integration new functionality in 21D?

Ability to include rates and costs in synchronization between MSP and PFM. Feature is enabled by default and can be selected as part of the attributes.

What are Service Types?

Activities you want to track for financial purposes. Can be used to derive accounting in SLA

What is the major functionality introduced in 21D?

Additional accounting sources for Creating Project Contract Revenue Accounting

What is Transaction Account Builder?

Additional user based processing setup in "Accounting Options" to control the specifics segments and code combination based upon Transaction Account Type. This is like the easy way and avoids complex setup in SLA. These can be numerous in volume and there is a ADFi upload utility.

What is an Expenduture Type Class?

Associated to an Expenditure Type

What are Transfer Price Rules within Borrowed and Lent?

Applies the basis and methods to calculate the cross charges

What are nonlabor resources?

Assets or pools of assets you use on projects. Non labor resources utilize usage transaction

What are Synchronization Rules between MSP and PFM?

Attributes to synchronize and how. Mapping between MSP and PFM.

What are BPM Templates?

BI Forms that go with workflow request to format for approval/rejection

What does the Standard Cost Collection Flexfield provide?

Capture project specific attributes on actual costs and commitment transactions. Basically the relay of data pertinent between a subledger and Projects for project related expenditures. (32 attributes). 10 attributes can be user defined, with 9 reserved for future use.

What is the name of standard Oracle delivered Reference Data Set?

Common Data Set

What is Borrowed and Lent Accounting?

Cost and account for resources shared across organizations using cross-charge processing without inter project or inter company billing/invoicing. Like intercompany across organizations, but at a project level.

What are Revenue Catgories?

Create Revenue Categories to group expenditure types AND event types for Revenue Recognition. Only one Revenue Category can be assigned to each expenditure type AND event type.

Resource Class Expenditure Type =

Determine default raw and burdened rates for a planning resource.

Resource Class Item Master & Category Set =

Determine the material item and category used

What are Project Roles?

Determines what a team member can do on a project (qualifications, keywords)

Where are Units of Measure controlled for costs?

Expenditure Types

What is the Task Notification workflow used for?

FYI: Notify team members and followers when a task is assigned, completed or a follower is added. Note that the notification is not sent to the initiator

Where is Budgetary Control set in PPM?

Financial Plan Type, used mostly for Sponsored Projects

How are budgets uploaded into PPM?

From FBDI, 3rd party interface or from EPM Planning (setup in EPM, looking upon pre-defined Templates in PPM)

What are Job Sets?

Further classifications to allow mapping between HR Jobs and Project Jobs (Intermediate Job Sets)

What are Job Mappings?

Grouping of several human resource jobs to less detailed project jobs

Resource Class Spread Curve =

How planned amounts for a resource are spread across the the project financial plan

What will happen if you execute the Projects Rapid Implementation Setup load a second time?

It will overwrite anything which was done on prior uploads, thus best used for the initial setup

What role must you have to create Labor Schedules?

Labor Distribution Administrator

What are Project Accounting Periods?

Managed separately and can be different than the GL Periods in GL

How do you modify select areas after using Projects Rapid Implementation?

Manually through Functional Setup Manager

Without invoicing what key limitation is thereby in place with Borrowed and Lent?

Must be within the same Business Unit or if across Business Units, it must be within the same Legal Entity. If across Legal Entity, then you use have inter company or inter project invoicing/billing.

Where do I go to get to the Rapid Implementation Spreadsheet?

Navigate - Other - Setup and Maintenance

What is the Expenditure Item Adjustment workflow for?

Notify designated approves to approve or reject the expenditure item adjustment request

What is the Project Expenditure Batch Approval Task workflow for?

Notify designated approves to approve or reject the project expenditure batch approval request

What is the project status change workflow used for?

Notify project managers to approve or reject changes to the project status

What is the Financial Plan Version Approval and Creation Workflow for?

Notify project managers to approve or reject the plan version

What is the invoice approval workflow used for?

Notify the billing specialist that an invoice is submitted for approval. Can also notify the project managers of the invoice. Approve or Reject.

What is the Expenditure Item Adjustment Request Notification used for?

Notify the initiator when the approve acts on an adjustment request

What is the Project Expenditure Batch Approval Notify Task for?

Notify the initiator with the status when the approves acts on an expenditure batch approval request

What new feature in 21D was introduced to better handle accounting date?

Opt in option to have this handled in Receivables rather than Contract Management. Caution in OTBI reporting and differences in Contract Management dates and actual accounting date set from Receivables.

What is Project Costing?

Overarching configuration over projects, specifically focused on how to capture, control, distribute, analyze and account for COSTING. Brings it all together, inside Oracle and outside Oracle

What is the business function that must be enabled in the Business Unit to activate Oracle Projects?

Project Accounting

What report provides insights to transactions under Budgetary Control?

Project Budgetary Control Validation and Balance Activities diagnostic report

What are the Reference Groups provided in Projects?

Project Definition - Class codes, Fin Plan Types, Proj Plan Types, Project roles Project Transaction Types - Expenditure Types, Work Types Project Accounting Definition - Project Types Project and Contract Billing - Invoice Formats Project Rates - Rate Schedules

Microsoft Project can not synchronize with PFM when what PPM offering is enabled?

Project Execution Management

Where does Budgetary Control take place versus Encumbrance Accounting?

Project Plan Type versus Subledger/General Ledger

Where do you set if a Project can capture capitalized costs?

Project Type

What are Project Types used for in PPM?

Project types control how PPM foundation creates and processes projects and is a primary classification of the projects

How do Project Units relate to Business Units?

Projects are created within a Project Unit. There can be multiple Project Units within a Business Unit that is aligned to a Company/Legal Entity/Ledger.

What is the benefit of Project Plan Types?

Provides default information to quickly create a project plan and capture progress

Direct Cost + Indirect Cost = Total Cost (What are the terms in PPM?)

Raw Cost + Burden Cost = Total Burdened Cost

What are Action Controls?

Settings that allow or disallow certain functions based upon if the master is MSP or PFM? These align with how you want to enforce synchronization rules.

What is Reference Data Sharing?

Sharing of configuration data such as Project Types, Rate Schedules and Financial Plan Types across business units or project units.

What is the bottom up hierarchy for a transaction in SLA?

Source - Transaction Object - Journal Line Rule - Account Rule - JERS - Accounting Method/Convention

Where are revenue and cost accounting entries created for Projects?

Subledger accounting engine

What is burdening?

The buildup of raw and burden costs to represent the total cost of doing business accurately

What are Quick Entries in relation to Templates?

These are additional attribute questions that can be required or optional to override particular attributes of a template

What is the Context Name attribute used for in the Cost Collection flexfield?

Ties to products like PO, INV, EXP, AP, SCM, Project Costing

Where in the application do you maintain and monitor Workflows?

Tools - Transaction Console

What is the audit functionality released in 21D?

Tracking changes made to rate schedules and rates (varying attributes)

What is a Project Class Category?

Used to Group and Report on Projects. Made up of Class Codes which are down the hierarchy

What are Project Templates?

Variety of pre-configured settings that expedite setup. These can be copied, created from new. Highly flexible and allows for controls in project setup and maintenance, across the complete PFM structures. The templates are then used to create Projects

What are Project Owning and Project Expenditure Organizations?

Where you create projects, incur costs and recognize revenue

What are Project Units?

Where you perform project planning, analysis and reporting functions (ie Consulting, Software, Cloud)

Can Budgetary Control be for Revenue?

Yes, but only in tandem with Cost. Can not be done by itself. Cost budgetary control by itself can take place