MOVF

Which statement regarding prioritizing value is true?A . A project can be successful even if it delivers only the Value Drivers classed as criticalB . Prioritizing value should be based only on financial Value DriversC . Value Drivers will normally be allocated different levels of importanceD . Prioritizing value should...

Which is a purpose of the MoV Project Plan?A . To provide a means of prioritizing stakeholdersB . To provide information to aid decision-makers when deciding whether to authorize a projectC . To describe the purpose of a series of MoV Studies throughout a projectD . To test early models...

What is the purpose of Function Analysis?A . To analyze what things doB . To analyze what things areC . To define how to produce thingsD . To define how much things cost to produceView AnswerAnswer: A

Which is a reason why MoV should be applied throughout the Investment Decision?A . To minimize the number of points where decisions need to be madeB . To ensure that information used to make a decision is used only in that decisionC . To maximize value in the face of...

On a FAST diagram, where would you expect to find functions with the lowest level of abstraction?A . On the far right of the diagramB . On the far left of the diagramC . At the bottom of the diagramD . Anywhere - there is no relationship between level of...

Which is NOT a recommended action in constructing an Option Evaluation Matrix?A . Select criteriaB . Define scale of improvement required and sensitivity rangesC . Set targetsD . Establish weights for relative importanceView AnswerAnswer: C

When would MoV NOT be of use?A . When determining the value of a decommissioned assetB . During the transition of an asset into the operational environmentC . When an asset is in the operational environmentD . During the delivery stage of a projectView AnswerAnswer: A

Which is NOT a key element of stakeholder consultation?A . Ensuring that all major stakeholders for the project have been identified and engagedB . Ensuring that the same stakeholder representatives are involved throughout the projectC . Ensuring that stakeholders are provided with timely, specific and clear information regarding proposals and...

Which statement regarding the Function Analysis Systems Technique is true?A . Functions should describe the features of a product rather than what it doesB . A Primary Basic Function consists of one or more Higher Order FunctionsC . A Primary Basic Function consists of one or more Primary Supporting FunctionsD...

Who prepares each Value Improving Proposal?A . The MoV Study LeaderB . The Programme Owner, who assesses relevant value priorities during Value ProfilingC . The Value Metric OwnerD . The owner of the relevant idea or scenario allocated during the selection processView AnswerAnswer: D