Online Access Free MOVF Practice Test

Which three criteria explain why the MoV individual competence model is useful to an organisation?
1.To assess an individual's capabilities and the type of MoV study for which they are suited.
2.To recognise that a fully but recently qualified practitioner will lack the experience to undertake studies on particularly complex projects.
3.To enable recently qualified practitioners to learn to undertake MoV where human and cultural factors may be significant.
4.To allow recently qualified practitioners to undertake studies on particularly complex projects.

• A.2, 3, 4
• B.1, 2, 4
• C.1, 2, 3
• D.1, 3, 4

Who prepares each Value Improving Proposal?

• A.The Value Metric Owner
• B.The MoV Study Leader
• C.The Programme Owner, who assesses relevant value priorities during Value Profiling
• D.The owner of the relevant idea or scenario allocated during the selection process

Which is a correct distinction between Value Engineering and Value Analysis?

• A.Value Engineering is applied to manufactured and constructed products and Value Analysis is applied to services and business processes
• B.Value Engineering is applied to improve evolving designs and Value Analysis is applied to improve existing products
• C.Value Analysis and Value Engineering, while similar, differ in that they employ different process steps
• D.Value Analysis is applied to determine required cost and performance targets and Value Engineering is applied to realize those targets

Which is a purpose of the Align with Organisational Objectives Principle?

• A.To ensure that evolving requirements are considered throughout the project
• B.To ensure that there is adequate governance in place to support and deliver MoV
• C.To take up lessons learned from previous experience in order to avoid repetition of past mistakes
• D.To minimize the risk that maximizing value within one project could diminish value across the wider programme

Which is a fundamental question that Value Management is intended to address?

• A.Are we maximizing our investments at an affordable cost by removing risk?
• B.Are we maximizing our investments at an affordable cost with a known and acceptable level of risk?
• C.Are we maximizing our investments by focussing on minimizing costs?
• D.Are we maximizing our investments based on all stakeholder requirements?