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Management of Value Foundation Questions and Answers

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Question 1

Who should undertake the assessment of value priorities when creating a value profile?

Options:

A.

The project team

B.

Programme owners or Project Sponsors and End Users

C.

The MoV Study Team

D.

Functional experts

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Question 2

Which statement about the application of the 7 MoV process stages is true?

Options:

A.

All MoV process stages must be adopted for any MoV Study if it is to be fully effective

B.

The Gather Information process only needs to be undertaken for the first MoV Study in a project

C.

Some processes will be used at many stages, others only in specific stages

D.

Lessons learned MoV studies should only be undertaken at the completion of a project

Question 3

Which is an alternative term for Value Engineering?

Options:

A.

Value Score

B.

Value Profile

C.

Value Driver

D.

Value Analysis

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