MOVF exam

Which statement regarding the steps in the Generic MoV Study Plan is true?A . The final step should be to develop the Value Improving ProposalsB . The first step should be to define the MoV Study objectivesC . The Implementation Plan should be agreed before setting targets for benefits improvementD...

Which would NOT be used to estimate the operating and running costs for a new IT system?A . The operating costs of a similar IT implementationB . The current daily rate of specialist skills required to operate the systemC . An estimate of how many staff would be required to...

Which is a main method of Function Analysis?A . Value Improving ProposalB . Value TreeC . Discounted Cash FlowD . BrainstormingView AnswerAnswer: B

Which is a key component of the Frame the Programme or Project process?A . Initial briefing meetingB . Team selectionC . Resource analysisD . Idea selectionView AnswerAnswer: A

Which MoV document contains a detailed evaluation of options for value improvement?A . MoV Project PlanB . Value Improving ProposalC . MoV Study HandbookD . MoV Progress ReportView AnswerAnswer: B

Which statement regarding the MoV processes is true?A . All processes will be used at all stages in a project lifecycleB . MoV activities change as a project evolves from inception to useC . They are only applicable to project environmentsD . They are most applicable at the inception stage...

What is the worth of a Function?A . Its relative importanceB . The current cost of performing itC . The lowest cost at which it could be performedD . Its objectiveView AnswerAnswer: C

What are the key activities involved in the Processing Information stage?A . Preparation, facilitation, creativity and innovationB . Analysis, creativity and innovation, and evaluation and selectionC . Preparation, target-setting, facilitation, and creativity and innovationD . Selection of team, preparation of Study Handbook, analysis of data, creativity and InnovationView AnswerAnswer: A

Which statement about MoV is true?A . It supports decision-making based on minimizing value for moneyB . It encourages innovation outside of an organization's goalsC . It facilitates optimal balance between investment and long-term operating expenditureD . It removes resources from consideration when reviewing organizational needsView AnswerAnswer: C

Which is NOT required for a top-down approach to introducing MoV to an organization?A . Providing guidance on how MoV will be used on projectsB . Setting up a strategy for implementing MoV PolicyC . Establishing an internal resource skilled in the application of MoVD . Developing procedures for data...