Management of Value® Foundation v6.0 (MOVF)

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Total 99 questions

Which statement regarding the delivery of value is true?

  • A. Benefits management focuses on maximizing benefits
  • B. If used, benefits management should be unrelated to the outputs of a MoV Study
  • C. Rewards linked to achievement of value improvements may be used to motivate staff in MoV
  • D. A formal benefits management process must be used to monitor value improvements


Answer : C

Which statement about applying MoV during the investment decision is true?

  • A. The focus of effort under MoV throughout the lifecycle of an investment decision is to direct requirements for the stage reached
  • B. MoV studies should be conducted at all key decision points to check decision making
  • C. When starting up a project MoV clarifies the information that is available to assist in the development of a more comprehensive business case
  • D. The focus of effort under MoV throughout the lifecycle of an investment decision should be fixed from the start so that value can be measured consistently at each stage


Answer : C

Which is a true statement about the Value Index?

  • A. It is a measure of how well the project, in its current state of development, satisfies the project objectives
  • B. It measures value for money
  • C. It is based on non-financial criteria
  • D. It should only be changed if business needs change


Answer : A

Which is an alternative term for Value Engineering?

  • A. Value Score
  • B. Value Profile
  • C. Value Driver
  • D. Value Analysis


Answer : D

How are Value Drivers used when creating a Value Tree?

  • A. The Value Tree is derived from the Value Profile after prioritising the Value Drivers
  • B. Value Drivers describe the physical elements of the project in the Value Tree
  • C. Primary Value Drivers are linked to statements describing design considerations which in turn are linked to a statement of objectives
  • D. Value Drivers are linked (as roots) to a statement of SMART objectives (the tree trunk)


Answer : D

When should the Delphi technique be used?

  • A. To get a range of expert opinions
  • B. To develop scenarios
  • C. To generate ideas
  • D. To build consensus


Answer : D

Which should determine the focus for a creativity session?

  • A. Cost analysis
  • B. Function cost analysis
  • C. Individuals should be free and encouraged to determine their own focus
  • D. Inadequate performance


Answer : B

Which is a MoV process?

  • A. Learn from experience and improve
  • B. Tailor MoV activity to suit the subject
  • C. Frame the programme or project
  • D. Focus on functions and required outcomes


Answer : C

Why is Value Engineering (VE) applied?

  • A. VE improves value by balancing function and cost whilst trading off time and quality
  • B. VE primarily aims to bring all the key stakeholders together to reduce project costs
  • C. VE primarily aims to assess value for money in an existing design or set of circumstances
  • D. VE produces value improving proposals which will be implemented by the project team


Answer : D

Which describes the range of return on investment that has been demonstrated by US
Government departments as a result of the application of MoV approaches?

  • A. Less than 10 to 1
  • B. Less than 20 to 1
  • C. Less than 30 to 1
  • D. More than 30 to 1


Answer : D

Which is a true statement describing the brainstorming technique?

  • A. Generates a large volume of ideas in a short timeframe
  • B. Focuses on eliminating ideas which may be unsuitable
  • C. Analyses in detail a small number of options
  • D. Enables team members to raise ideas anonymously


Answer : A

Which statement about applying mind showering in MoV is true?

  • A. Uses the cost model as a guide to focus on idea generation
  • B. Discourages foolish ideas
  • C. Focuses on idea quality NOT quantity
  • D. Ensures that all ideas are made visible


Answer : D

Which describes a purpose of the MoV Study Handbook?

  • A. It allows Senior Managers to objectively review proposals to determine which should be
  • B. implemented
  • C. It ensures that the Study Team are all working from the same level of information
  • D. It assigns Proposal Owners to all development proposals
  • E. It helps to ensure that the requirements of the Project Sponsors and end users are aligned


Answer : B

During which MoV process would Stakeholder Analysis first be undertaken?

  • A. Analyze Information
  • B. Develop Value Improving Proposals
  • C. Evaluate and Select
  • D. Frame the Programme or Project


Answer : D

Which technique would you use to understand "business as usual"?

  • A. Benchmarking
  • B. Weighting techniques
  • C. MoV health check
  • D. Process mapping


Answer : D

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Total 99 questions