EX0-006 Online Practice Questions and Answers
Which statement about MoV is true?
A. It supports decision-making based on minimizing value for money
B. It encourages innovation outside of an organization's goals
C. It facilitates optimal balance between investment and long-term operating expenditure
D. It removes resources from consideration when reviewing organizational needs
When should an organization consider it necessary to establish in-house MoV delivery capability?
A. When MoV is running only on a project-by-project basis
B. When the scale of MoV applications becomes large and frequent enough to justify an internal delivery capability
C. When a third party procurement is running successfully
D. When it can benefit from more effective use of internal resources by broadening their capabilities
When should MoV be embedded into an organization using a formal/top-down approach?
A. The embedding of MoV is required throughout the investment decision.
B. When the scale of MoV applications become large and frequent.
C. When organizations anticipate that their MoV needs will be minimal.
D. When people engaged on other work wish to add MoV to their set of skills.
Which is NOT a purpose of the Decision Building meeting when Developing Value Improving Proposals?
A. To enable owners of Value Improving Proposals to present their suggestions to a panel of senior managers
B. To discuss the findings of each Value Improving Proposal and agree whether or not it should be implemented in whole or in part
C. To allocate an owner who is responsible for the implementation of each of the Value Improving Proposals selected
D. To supply project managers with details of how and when Value Improving Proposals will be implemented and the expected value improvements (or benefits)
Which statement about implementing a Value Improving Proposal is FALSE?
A. The Proposal Implementation Plan provides the project managers with details of the expected value improvements (or benefits)
B. Communication flowing from collaborative feedback enhances the effectiveness of MoV and helps build an appropriate culture
C. The Proposal Implementation Plan enables project managers to monitor and manage the implementation process
D. The Proposal Owners are NOT responsible for ensuring that their proposals are implemented
When should an organization consider it necessary to fully embed MoV?
A. MoV is running only on a project-by-project basis
B. The scale of MoV applications become large and frequent enough to justify an internal delivery capability
C. The organization anticipates that their MoV needs will be minimal and external resource can be procured on an 'as-needed' basis
D. Senior Management ask to be convinced of the merits of MoV before committing to the process
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)
Who should be responsible for developing a value-improving proposal?
A. The MoV team as a whole
B. The most relevant functional manager
C. The allocated owner of the value improving proposal
D. A technical expert nominated by the allocated owner
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
Value mismatches are identified in which phase of the Value Engineering Job Plan?
A. Creativity
B. Value Definition
C. Analysis
D. Development