PeopleCert MOVF Exam Questions Instant Access

Question 1

Which method provides a good checklist for communication during an MoV study?

ABrainstorming

BFive Ws and an H

CFunction Analysis

DCost/Worth

Answer : B

Question 2

Which is the main reason that an MoV Project Plan needs to be reviewed when the Business Case changes?

ATo maintain business profitability

BTo ensure that the choice of team members is still appropriate

CTo ensure selected tools and techniques are still appropriate

DTo ensure that the Value Profile reflects the changed needs of the business

Answer : D

Question 3

Why may cost benefit analysis (CBA) be applied when developing a Value Improving Proposal (VIP)?

AIt compares the initial magnitude of cost of an MoV Study with the long term benefits it will deliver

BAll new policies, programmes and projects should be subject to comprehensive but proportionate assessment

CIt is used in conjunction with discounted cash flow to ensure that the lowest cost VIP is always selected

DIt assesses the benefits of implementing a proposal against the risk that the VIP may fail

Answer : B

Question 4

Which is a fundamental question that Value Management is intended to address?

AAre we maximizing our investments at an affordable cost by removing risk?

BAre we maximizing our investments by focussing on minimizing costs?

CAre we maximizing our investments at an affordable cost with a known and acceptable level of risk?

DAre we maximizing our investments based on all stakeholder requirements?

Answer : C

Question 5

How is cost benefit analysis applied during an MoV Study?

AIn Studies of process or procedure, it can be combined with many other tools, e.g. process-mapping and option selection

BIt creates a focus on comparison of the benefits that MoV could deliver over the long term with the cost of a MoV Study

CIt is used to establish discounted cash flow for Value Improving Proposals

DIt is used to assess the Value Index

Answer : A

Question 6

Which is true of MoV?

AIt is better suited to the private rather than the public sector

BIt is an informal approach to maximizing value

CCompliance with MoV processes is a good measure of added value

DValue Improving Proposal

Answer : D

Question 7

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

AProviding guidance on how MoV will be used on projects

BSetting up a strategy for implementing MoV Policy

CEstablishing an internal resource skilled in the application of MoV

DDeveloping procedures for data capture and feedback

Answer : C

PeopleCert MoV Foundation - Management of Value MOVF Exam Questions