PeopleCert MOVF Exam Practice Test Instant Access

Question 1

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 2

Which technique focuses on underlying issues, rather than solving specific problems?

ARoot Cause Analysis

BSoft Systems Methodology

CValue Profiling

DCost Function Analysis

Answer : A

Question 3

Which statement regarding the steps in the Generic MoV Study Plan is true?

AThe final step should be to develop the Value Improving Proposals

BThe first step should be to define the MoV Study objectives

CThe Implementation Plan should be agreed before setting targets for benefits improvement

DThe Value Drivers should be prioritized before identifying the functions

Answer : B

Question 4

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

AThe project team

BProgramme owners or Project Sponsors and End Users

CThe MoV Study Team

DFunctional experts

Answer : B

Question 5

Which is NOT a reason why it becomes more difficult to implement changes identified by a MoV Study as a project progresses?

ASunk costs increase as a project progresses

BProject team members gain increased ownership of their work

CResistance to change increases

DProject objectives are less clear

Answer : D

Question 6

Which MoV document contains a detailed evaluation of options for value improvement?

AMoV Project Plan

BValue Improving Proposal

CMoV Study Handbook

DMoV Progress Report

Answer : B

Question 7

Which is the main Study Output from the Start Up or Inception stage of a project?

AInformation to clarify a viable Brief

BFunctional definition of project

CInformation to improve the Business Case

DMaximized value

Answer : C

PeopleCert MoV Foundation - Management of Value MOVF Exam Practice Test