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Project Lifecycle Management Essentials: 1Z0-466 Exam
1Z0-466 Questions & Answers
Exam Code: 1Z0-466
Exam Name: Project Lifecycle Management Essentials
Q & A: 100 Q&As

QUESTION 1
At the end of iteration phase, during Project Execution and Control, which three key tasks should
be conducted?
A. QM.050 Perform Quality Assurance
B. WM.050 Manage Approvals
C. CMM.030 Manage Project Team Communication
D. PKM.020 Conduct Baseline Risk Assessment
E. SM.060 Close Scope management
F. PKM.060 Conduct Post-Production Risk Assessment
G. OCHM.040 Establish Follow-Up process
Answer: ABC

Explanation:
Incorrect:
Not D: Belongs to project start upNot E: Belongs to project closure.
Not F: Belongs to project closure.
Not G: Belongs to project closure.

QUESTION 2
Where can you access all the phases, activities, tasks, supplemental content, and reference files
associated with the OUM Manage Focus Area?
A. Implement Models View
B. Manage View
C. Implement View
D. Project Manage View
E. Envision View
F. Project Plan
Answer: B

Explanation:
OUM 5.6 provides the following views:
* Manage Views
/ Manage Focus Area
* Implement Views
* Envision Views
* Other Views

QUESTION 3
What is not an activity in the OUM Manage Project Closure Phase?
A. Contract Closure
B. Release Staff
C. Close Scope Management
D. Close User Acceptance Test
E. Close Work Management
Answer: B

Explanation:
The Project Closure phase occurs after the Production phase. During this phase, the project is
“closed” (not A) from an administrative and contractual standpoint. This includes making sure that
the project work (not E) products are complete and meet the customer’s expectations (not D);
gaining final acceptance; and securing all documents for reuse, collection and retention.

QUESTION 4
What is not an approach for risk mitigation?
A. Reducing the probability of occurrence by choosing an alternate approach
B. Reducing the impact of the risk by having a plan in place to immediately read to the event.
C. Accepting some of the risks and adding them to the Issues log since they will probably become an
issue anyway.
D. Accepting some of the risks from the onset and controlling those risks throughout the project lifecycle.
Answer: C

QUESTION 5
Which term means monitoring specific results to determine whether they comply with the relevant
standards?
A. Quality Planning
B. Quality Control
C. Process Improvement
D. Quality Assurance
Answer: D

QUESTION 6
Which Oracle Unified Method phase includes Bid Transition?
A. Project Start Up
B. Project Closure
C. Project Executing & Control
D. Financial Management
Answer: A

QUESTION 7
Tasks in the Project Execution and Control phase are ongoing. How often are they executed?
A. In each iteration
B. In each Phase
C. Five times per iteration
D. At the beginning of each week
E. As needed
Answer: A

QUESTION 8
According to the recommended training for this exam, when does the Project Manager assume
responsibility for the project profitability?
A. When the Project Manager accepts it during the transaction from sales to delivery
B. Never
C. At the start of the sales cycle
D. When the client requests it
Answer: D

QUESTION 9
Select three benefits of the Oracle Unified Method.
A. It provides a common language.
B. Easier integration of acquisitions.
C. It decreases implementation time.
D. It reduces duplication and focus methods investment on deeper materials
E. It decreases implementation costs.
Answer: CDE

Explanation:
* More Cost Effective ?OUM facilitates improved control of project expenses by using a flexible
work breakdown structure that allows you to perform only necessary tasks. Note: The Oracle
Unified Method (OUM) is Oracle’s standards-based method that enables the entire Enterprise
Information Technology (IT) lifecycle. OUM provides an implementation approach that is rapid, broadly adaptive, and business-focused. OUM includes a comprehensive project and program
management framework and materials to support Oracle’s growing focus on enterprise-level IT
strategy, architecture, and governance.
Oracle’s Global Methods team has packaged OUM to accelerate your IT projects. OUM presents
an organized, yet flexible, approach. Its defined, operational framework helps anticipate critical
project needs and dependencies. With OUM, you can move efficiently through the IT lifecycle to
quickly achieve measurable business results.

QUESTION 10
According to the recommended training for this exam, proper management ensures
___________ and ____________.
A. Value to the client
B. Value to your company
C. Value to the industry
D. Value to the community
Answer: A

QUESTION 11
Which three variables are used with Earned Value?
A. EV – Earned Value
B. PV – Planned Value
C. AC – Actual Cost
D. PC – Planned Cost
E. EC – Earned Cost
F. AC – Accounting Cost
Answer: ABC

Explanation:
EV – earned value, estimated value of work done.
PV – planned value, estimated value of planned work
AC – actual cost, what you paid

QUESTION 12
What is true about planning a project in OUM Manage?
A. All tasks are executed to the same degree during the Project Execution and Control phase.
B. There is no distinction between executing and controlling the project and executing and controlling
an iteration/phase.
C. The project plan that is established in the Project Startup phase details each task through the end
of the project.
D. Manage tasks are not included in the project work plan.
Answer: B

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