Exactprep MOVF Questions

Management of Value Foundation Questions and Answers

Question 9

Which is NOT required for a top-down approach to introducing MoV to an organization?

Providing guidance on how MoV will be used on projects

Setting up a strategy for implementing MoV Policy

Establishing an internal resource skilled in the application of MoV

Developing procedures for data capture and feedback

Question 10

Which is a benefit of the MoV Study Leader reporting to the Programme Manager?

It enables the Programme Manager to pass valuable lessons learned during one project on to other projects

It eliminates the need for regular meetings of the Senior MoV Practitioner and Study Leaders

It replaces the need to involve the Project Sponsor in MoV Studies who may be busy

It enables the Programme Manager to report to the Senior MoV Practitioner and MoV Board on lessons learned

Question 11

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

The project team

Programme owners or Project Sponsors and End Users

The MoV Study Team

Functional experts

Question 12

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

Value Engineering is applied to improve evolving designs and Value Analysis is applied to improve existing products

Value Engineering is applied to manufactured and constructed products and Value Analysis is applied to services and business processes

Value Analysis is applied to determine required cost and performance targets and Value Engineering is applied to realize those targets

Value Analysis and Value Engineering, while similar, differ in that they employ different process steps