EXIN Management of Value® Foundation - MOVF FREE EXAM DUMPS QUESTIONS & ANSWERS]

Question 1

Which is NOT a recommended action in constructing an Option Evaluation Matrix?

A. Set targets B. Define scale of improvement required and sensitivity ranges C. Select criteria D. Establish weights for relative importance

Discussion 0

Correct Answer: A Vote an answer

Question 2

When should the Delphi technique be used?

A. To generate ideas B. To build consensus C. To get a range of expert opinions D. To develop scenarios

Discussion 0

Correct Answer: B Vote an answer

Question 3

Value mismatches are identified in which phase of the Value Engineering Job Plan?

A. Analysis B. Development C. Creativity D. Value Definition

Discussion 0

Correct Answer: A Vote an answer

Question 4

Which is a key component of the Evaluate and Select process?

A. Idea selection B. Resource analysis C. Team selection D. Initial briefing meeting

Discussion 0

Correct Answer: A Vote an answer

Question 5

What does the Function Analysis Systems Technique produce?

A. A detailed proposal to improve value B. A diagram showing information flows and responsibilities C. A diagram representing functions and their hierarchy D. An analysis of current equivalent values of future cash flows

Discussion 0

Correct Answer: C Vote an answer

Question 6

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 20 to 1 B. More than 30 to 1 C. Less than 30 to 1 D. Less than 10 to 1

Discussion 0

Correct Answer: B Vote an answer

Question 7

What is the purpose of Function Analysis?

A. To analyze what things are B. To define how to produce things C. To define how much things cost to produce D. To analyze what things do

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Correct Answer: D Vote an answer

Question 8

What are potential options usually evaluated against?

A. MoV Study Handbook B. Value Improving Proposals C. Value Drivers D. MoV Project Plan

Discussion 0

Correct Answer: C Vote an answer

Question 9

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

A. Project objectives are less clear B. Sunk costs increase as a project progresses C. Project team members gain increased ownership of their work D. Resistance to change increases

Discussion 0

Correct Answer: A Vote an answer

Question 10

Why is Value Engineering (VE) applied?

A. VE produces value improving proposals which will be implemented by the project team B. VE primarily aims to bring all the key stakeholders together to reduce project costs C. VE primarily aims to assess value for money in an existing design or set of circumstances D. VE improves value by balancing function and cost whilst trading off time and quality

Discussion 0

Correct Answer: A Vote an answer