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Vendor : Oracle
Exam Code : 1Z0-466
Exam Name : Project Lifecycle Management Essentials
Questions and Answers : 98 Q & A
Updated On : December 15, 2017
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1Z0-466 Questions and Answers

1Z0-466


QUESTION: 90

Which three items must be updated when scope changes are approved?


  1. Project scope

  2. Project budget

  3. Project component value ratio

  4. Project cost center

  5. Project schedule


Answer: A, B, E


Explanation:

Note:

Project scope is the part of project planning that involves determining and documenting a list of specific project goals, deliverables, tasks, costs and deadlines.


QUESTION: 91

What is one of the first outputs of the Project Execution and Control Phase?


  1. Staff retention plan

  2. Team orientation and kickoff

  3. Project sponsor orientation and kickoff

  4. Go-live cutover

  5. Contract sign-off


Answer: D


Explanation:

Note:

The purpose of the Project Execution and Control Phase is to provide adequate visibility into actual progress so that management can take effective actions when the project’s performance deviates significantly from the project plans. The Project Execution and Control Phase includes tracking and reviewing the projects accomplishments and results against documented WBS, project estimates, time schedule, resources plan, and cost budget, and adjusting these plans based on the actual accomplishment and results.


QUESTION: 92


According to the recommended training for this exam, when does the Project Manager assume responsibility for the commitments made during the sale cycle?


  1. During the Risk Management process

  2. At the start of the sales cycle

  3. At the transaction from sales to delivery

  4. During the Project Closure phase


Answer: C


QUESTION: 93

For our purposes, what is the most important work product produced by the project manager as prescribed by OUM Manage?


  1. Project management Plan

  2. Project Resource Plan

  3. Project Estimate

  4. Project Budget

  5. Project Bid


Answer: A


QUESTION: 94

Select three objectives of the OUM Envision phase.


  1. Staff the project.

  2. Provide the vision for one or more projects in order to achieve a focused set of business objectives.

  3. Identify areas of project risk and develop mitigation strategies.

  4. Establish or bolster broad set of enterprise IT processes that are to be continued.

  5. Configure an application.

  6. Define an enterprise “strategy” on such topics as Governance, Business Intelligence, or Business Process Improvements prior to an OUM project that supports implementation specific technology in these areas.


Answer: B, D, F


Explanation:


Note:

The Envision focus area is organized into six processes:

The Envision focus area extends OUM’s capabilities beyond implementation and management of IT projects into the realm of vision and strategy. It is not likely that all of Envision’s processes and tasks will be executed within any single enterprise, nor is it likely that Envision will ever contain an exhaustive set of enterprise level processes. Rather, Envision should serve as a framework that can be scaled to suit the needs of a particular enterprise.


QUESTION: 95

What is true about Iteration Plans in OUM Manage?


  1. They cover a single project.

  2. They focus on achieving iteration’s objectives and reducing risks

  3. They are flexible and can change at any time.

  4. They are used to plan the subsequent phase of the project.


Answer: D


Explanation:

During each iteration, the current Iteration Plan is adjusted. Subsequent Iteration Plan is created prior to the iteration beginning.

Note:

* There are two plans active in the project at any given time – the implementation plan and the iteration plan.


QUESTION: 96

What is the basis for the Project Management Plan [PMP]?


  1. the Project Framework

  2. the project deliverables

  3. the resourcing plan

  4. the procurement plan


Answer: A


Explanation:

The creation of the PMP is started with the Project Management Framework in the task BT.070 – Create Project Management Framework, which is part of the OUM Manage Focus Area’s Project Startup Phase. The project manager creates the Project Management Framework, along with the project sponsor and other stakeholders. At this point in the project, the Project Management Framework represents the PMP at the strategic level. In fact, the Project Management Framework can be thought of as the initial or high-level version of the PMP.


QUESTION: 97

A client asks a Project Manager to change the format of the project plan. It is expected to be a five hour task. The client has requested this task be completed by the end of the work week and non- billable. Identify two valid responses.


  1. All work for the benefit of the client is billable.

  2. The client may share existing project plan with his staff for reformatting.

  3. The Project Manager gladly accepts the task and sets the expectation that the client can determine which tasks are billable.

  4. The Project Manager declines because only the existing format is allowed.


Answer: B, C


QUESTION: 98

In OUM, what is true about planning?


  1. The plan for the first iteration of the Elaboration phase is drafted In the Inception Phase.

  2. The planning starts in the Inception Phase.

  3. The evolution plan is created in the Project Startup Phase.

  4. Planning is done in a top down approach.


Answer: B


Explanation:

The overriding goal of the Inception phase is to gain concurrence among all stakeholders on the lifecycle objectives for the project. The Inception phase is critical for all projects because the scope of the effort, the high-level requirements, and the significant risks must be understood before the project can proceed. The Inception


phase is used to kick off a project; review the strategic direction of the business; and confirm, document, and prioritize the high-level business requirements for the project. It is also the time to begin assembling and integrating the project team, to scope the entire engagement, and develop the initial project plan.



Oracle 1Z0-466 Exam (Project Lifecycle Management Essentials) Detailed Information

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    Project Lifecycle Management Essentials

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    Project Lifecycle Management Exam Study Guide. Kim Miller Senior Manager WWA&C Applications Partner Enablement

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    2 Objective & Audience Objective This guide is designed to help you prepare for the Oracle Project Lifecycle Management Essentials (">1Z0-466) exam and Project Lifecycle Management Assessment by providing links to study resources. Please note, this Specialization is in two parts: 1. Project Lifecycle Management Essentials an exam proctored by PearsonVue 2. Project Lifecycle Management Assessment a non-proctored on line test Individuals must pass both parts in order to become Project Lifecycle Management Specialized Targeted Audience Project Managers of any level or those with project management type responsibilities Up-to-date training and field experience are very strongly recommended

    3 Exam Topics Exam Topics The Project Lifecycle Management Essentials proctored exam consists of four topics: 1. Project Management Basics 2. Oracle Unified Method 3. Applying Method Principles 4. Manage Focus Area The Project Lifecycle Management Essentials non-proctored assessment test consists of three topics: 1. Project Management Basics 2. People Skills for Project Managers 3. Project Team Management

    4 Exam Objectives Exam Objectives The exam objectives are defined by learner or practitioner level of knowledge: Learner-level: Learner items test foundational grasp and require comprehension (not recognition or memorization) Example: When setting up price list modifiers in Advanced Pricing, which three steps must be completed in order to successfully activate surcharge and price break features? Practitioner-level: Practitioner items present on-the-job scenarios and require the ability to integrate and apply knowledge in new contexts, analyze, troubleshoot and solve problems. Example: You are creating price list modifiers in Advanced Pricing. Your customer has the following requirements Which two steps must be completed in order to meet those requirements?

    5 Training Options On the following slides, course options for each exam topic have been defined. Please note that not all training options are available for all exam topics. Additional choices may be developed over time. Instructor-Led or Live Virtual Training Partners can take any publicly-scheduled Oracle University courses at a discount. Many OPN boot camps are taught by the OPN team at no or minimal costs. Benefit from hands on experience to gain working skills and work towards OPN Specialization. Oracle Partners are entitled free access to the Oracle Knowledge Center (OUKC), a vast library of recorded product courses. New courses are regularly added to the library, providing partners with the latest information and training to master new products or to increase proficiency on the new releases.

    6 Topic 1: Project Management Basics Proctored Exam Objectives Level Define a project Learner Transition from Sales to Delivery Practitioner Plan a project and related documentation Practitioner Training Options Please Note: View this slide prior to viewing the on line courses Oracle Unified Method Level 1 & 2 Training Boot Camps Project Lifecycle Management Boot Camp Consulting Skills Partner Version Boot Camp Sample Questions Please Note: The Specialization exam is meant to be challenging and to test participant on all facets of the objective. The actual exam questions may vary in difficulty from the sample questions. For our purposes, the definition of a project is, a sequence of tasks with a beginning and end, bound by, and. A. time, resources, results B. time, consultants, benefits C. time, constraints, remedies D. time, client conditions, duration of the project. Which OUM phase includes Bid Transition? A. Project Set Up B. Project Start Up C. Project Execution & Control D. Project Closure

    7 Topic 2: Oracle Unified Method Proctored Exam Objectives Level Explain Oracle Unified Method Learner Explain the Manage Focus Area Learner Explain the Envision Focus Area Learner Explain the Implement Focus Area Learner Employ Use Cases Practitioner Training Options Please Note: View this slide prior to viewing the on line courses Oracle Unified Method Level 1 & 2 Training Boot Camps Project Lifecycle Management Boot Camp Consulting Skills Partner Version Boot Camp Sample Questions Please Note: The Specialization exam is meant to be challenging and to test participant on all facets of the objective. The actual exam questions may vary in difficulty from the sample questions. Which Oracle products can be implemented using the Oracle Unified Method? A. All of them B. Only those products that were created by companies Oracle acquired after 2010 C. Only those products that are legacy Oracle (not from an acquired company) D. OUM is product agnostic, so no Oracle products can be implemented using it The Manage Focus area is meant to be leveraged by. A. Project Managers B. Sales Executives C. Sales Consultants D. Practice Managers

    8 Topic 3: Applying Method Principles Proctored Exam Objectives Level Apply the guiding method principles Practitioner Manage work, risk and scope Practitioner Control the project Practitioner Manage quality and change Practitioner Explain strategies for overcoming organizational change Learner Plan using iterations Practitioner Close the project Practitioner Training Options Please Note: View this slide prior to viewing the on line courses Oracle Unified Method Level 1 & 2 Training Boot Camps Project Lifecycle Management Boot Camp Consulting Skills Partner Version Boot Camp Sample Questions Please Note: The Specialization exam is meant to be challenging and to test participant on all facets of the objective. The actual exam questions may vary in difficulty from the sample questions. What is the goal of risk management? A. To reduce or eliminate predictable variances B. To reproduce or eliminate predictable variances C. To reduce or exacerbate predictable variances D. To reduce or eliminate unpredictable variances When it comes to risk management, what three choices to Project Managers have? A. Avoid, transfer or mitigate B. Avoid, transfer or quit C. Create a workaround, transfer or mitigate D. Create custom code, create a workaround or mitigate

    9 Topic 4: Manage Focus Area Proctored Exam Objectives Level Define the goals, benefits and components of the Manage Focus Area Learner Explain the structure of the Manage Focus Area Learner Design the Chart of Account and segment level rules for intercompany Learner Describe the key concepts and principles of the Manage Focus Area Practitioner Plan a project Practitioner Training Options Please Note: View this slide prior to viewing the on line courses Oracle Unified Method Level 1 & 2 Training Boot Camps Project Lifecycle Management Boot Camp Consulting Skills Partner Version Boot Camp Sample Questions Please Note: The Specialization exam is meant to be challenging and to test participant on all facets of the objective. The actual exam questions may vary in difficulty from the sample questions. The Manage Focus Area contains materials from which Oracle legacy methods A. Project Management (PJM) and Program Management (PGM) B. Product Application Management (M) and Program Management (PGM) C. Project Management (PJM) and Program Database Management (PDM) D. The Manage Focus Area is not based on any Oracle legacy methods The Manage Focus Area flows through which phases of Oracle Unified Method? A. Project Set Up, Project Execution & Control, Project Closure B. Project Start Up, Project Risk & Control, Project End C. Project Management, Project Control, Project Closure D. The Manage Focus Area does not flow through any of the OUM phases it is a separate entity

    10 Topic 1: Project Management Basics Non Proctored Exam Objectives Level Define a project Learner Transition from sales to delivery Practitioner Plan a project and related documentation Practitioner Explain the commonalities of successful projects Learner Negotiating with clients Practitioner Training Options Please Note: View this slide prior to viewing the on line courses Oracle Unified Method Level 1 & 2 Training Boot Camps Project Lifecycle Management Boot Camp Consulting Skills Partner Version Boot Camp Sample Questions Please Note: The Specialization exam is meant to be challenging and to test participant on all facets of the objective. The actual exam questions may vary in difficulty from the sample questions. Why must all decision makers actively attend each Project Steering Committee Meeting? A. So they are able to make informed decisions B. So they are kept up to date with the project s progress C. So they can provide feedback on the project s progress D. So they can sign the invoices Open communications contribute(s) to. A. building strong relationships B. too much feedback from a variety of sources C. confusion among the project team members D. additional upsell opportunities

    11 Topic 2: People Skills for Project Managers Non Proctored Exam Objectives Level Define strategies for overcoming personal interaction challenges Learner Establish goals, set priorities and manage time Practitioner Employ effective communication skills Practitioner Training Options Please Note: View this slide prior to viewing the on line courses Oracle Unified Method Level 1 & 2 Training Boot Camps Project Lifecycle Management Boot Camp Consulting Skills Partner Version Boot Camp Sample Questions Please Note: The Specialization exam is meant to be challenging and to test participant on all facets of the objective. The actual exam questions may vary in difficulty from the sample questions. Establishing a relationship begins with contact and continues through the of the relationship A. first, life B. first in person, life C. second, life D. third, end What are some interaction strategies designed to reduce uncertainty? A. Be clear and truthful about your skills B. Define what the client can expect from you and what you expect from the client C. Explain your understanding of the cash requirements D. Define success criteria jointly with the client E. All of the above F. None of the above

    12 Topic 3: Project Team Management Non Proctored Exam Objectives Level Explain the basics of team management Learner Manage an on-site team Practitioner Manage a virtual team Practitioner Motivate a team Practitioner Set effective expectations Learner Training Options Please Note: View this slide prior to viewing the on line courses Oracle Unified Method Level 1 & 2 Training Boot Camps Project Lifecycle Management Boot Camp Consulting Skills Partner Version Boot Camp Sample Questions Please Note: The Specialization exam is meant to be challenging and to test participant on all facets of the objective. The actual exam questions may vary in difficulty from the sample questions. The client asks you to provide written feedback through their Human Resources system for hisher employee s year end review. What should your response be? A. Politely decline as it can be construed as a conflict of interest B. Agree to do it only if you can use the client Project Manager s password C. Agree to provide written feedback only for those employees who you hold in high regard D. Agree to provide written feedback only for those employees who you would like removed from the project What is the key component to setting effective expectations? A. Communication B. Leadership ability C. Quality management D. Contract Management E. Change Orders

    13 Exam Registration How to register for the exam? You can register for all Oracle certification exams with Pearson VUE. Before a registration can be submitted, a Pearson VUE profile must be created using your Company ID. Your Company ID can be obtained by contacting your local Oracle Partner Business Center or by signing in to your OPN account. Your Company ID is located in the section on the right under "Company information". Please follow these instructions in order to properly set-up your Pearson VUE account for the first time. Have you completed an Oracle Certification Exam in the past? Due to systems enhancements, each partner who has completed an Oracle Certification Exam will need to update their Pearson VUE profile in order to receive credit and for those records to appear in the OPN Competency Center. How to get full recognition as Certified Implementation Specialist? To get full recognition as a Certified Implementation Specialist you need to: A. Update your Pearson VUE profile with your Company ID B. Activate your Certview Account Please follow these instructions and your records will be properly recorded.

    14 On Line Courses in ilearning Some on line Oracle courses have long names and therefore, the may be to the far right. button To view the course, please scroll to the right and click the enroll button. Specializations Exams Specializations exams are meant to be challenging and test participants on all facets of the product. Some of the knowledge required to pass the exam may be learned in a classroom setting, while some knowledge must be learned through hands on experience. The courses presented in this document may or may not cover every objective to the level of depth that is presented in the Specialization exam.

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