PeopleCert movf online test

MoV Foundation - Management of Value Exam Exam

What students need to know about the movf exam

  • Total None Questions & Answers

Question 1

Which statement about implementing a Value Improving Proposal is FALSE?

  • A. The Proposal Implementation Plan provides the project managers with details of the expected value improvements (or benefits)
  • B. Communication flowing from collaborative feedback enhances the effectiveness of MoV and helps build an appropriate culture
  • C. The Proposal Implementation Plan enables project managers to monitor and manage the implementation process
  • D. The Proposal Owners are NOT responsible for ensuring that their proposals are implemented
Answer:

D

Discussions

Question 2

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

  • A. Brainstorming
  • B. Five Ws and an H
  • C. Function Analysis
  • D. Cost/Worth
Answer:

B

Discussions

Question 3

Which is an MoV Principle?

  • A. Understand and articulate value
  • B. Process information
  • C. Focus on functions and required outcomes
  • D. Prioritize value
Answer:

C

Discussions

Question 4

Which statement about MoV is true?

  • A. It supports decision-making based on minimizing value for money
  • B. It encourages innovation outside of an organization's goals
  • C. It facilitates optimal balance between investment and long-term operating expenditure
  • D. It removes resources from consideration when reviewing organizational needs
Answer:

C

Discussions

Question 5

How is cost benefit analysis applied during an MoV Study?

  • A. In Studies of process or procedure, it can be combined with many other tools, e.g. process- mapping and option selection
  • B. It creates a focus on comparison of the benefits that MoV could deliver over the long term with the cost of a MoV Study
  • C. It is used to establish discounted cash flow for Value Improving Proposals
  • D. It is used to assess the Value Index
Answer:

A

Discussions

Question 6

What are potential options usually evaluated against?

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

A

Discussions

Question 7

Which is NOT an area where it is necessary to strike a balance in order to maximize value?

  • A. Reconciling the needs and views of different stakeholders
  • B. Balancing capital and operating costs
  • C. Balancing the use of resources to reflect their availability and the organization's priorities
  • D. Balancing the overall benefits realized against the use of resources
Answer:

B

Discussions

Question 8

Which is true of MoV?

  • A. It is better suited to the private rather than the public sector
  • B. It is an informal approach to maximizing value
  • C. Compliance with MoV processes is a good measure of added value
  • D. Value Improving Proposal
Answer:

D

Discussions

Question 9

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 implementation
  • B. The current daily rate of specialist skills required to operate the system
  • C. An estimate of how many staff would be required to run the new system
  • D. The total expenditure on MoV Studies
Answer:

D

Discussions

Question 10

Which is NOT a key element of stakeholder consultation?

  • A. Ensuring that all major stakeholders for the project have been identified and engaged
  • B. Ensuring that the same stakeholder representatives are involved throughout the project
  • C. Ensuring that stakeholders are provided with timely, specific and clear information regarding proposals and their impacts throughout the development process
  • D. Ensuring that regular feedback on progress is given
Answer:

B

Discussions
To page 2