Which statement regarding prioritizing value is true?A . A project can be successful even if it delivers only the Value Drivers classed as criticalB . Prioritizing value should be based only on financial Value DriversC . Value Drivers will normally be allocated different levels of importanceD . Prioritizing value should be carried out with...
Which is a purpose of the MoV Project Plan?
Which is a purpose of the MoV Project Plan?A . To provide a means of prioritizing stakeholdersB . To provide information to aid decision-makers when deciding whether to authorize a projectC . To describe the purpose of a series of MoV Studies throughout a projectD . To test early models or prototypes before a...
What is the purpose of Function Analysis?
What is the purpose of Function Analysis?A . To analyze what things doB . To analyze what things areC . To define how to produce thingsD . To define how much things cost to produce View Answer Answer: A...
Which is a reason why MoV should be applied throughout the Investment Decision?
Which is a reason why MoV should be applied throughout the Investment Decision?A . To minimize the number of points where decisions need to be madeB . To ensure that information used to make a decision is used only in that decisionC . To maximize value in the face of evolving requirementsD . To...
On a FAST diagram, where would you expect to find functions with the lowest level of abstraction?
On a FAST diagram, where would you expect to find functions with the lowest level of abstraction?A . On the far right of the diagramB . On the far left of the diagramC . At the bottom of the diagramD . Anywhere – there is no relationship between level of abstraction and location on...
Which is NOT a recommended action in constructing an Option Evaluation Matrix?
Which is NOT a recommended action in constructing an Option Evaluation Matrix?A . Select criteriaB . Define scale of improvement required and sensitivity rangesC . Set targetsD . Establish weights for relative importance View Answer Answer: C...
When would MoV NOT be of use?
When would MoV NOT be of use?A . When determining the value of a decommissioned assetB . During the transition of an asset into the operational environmentC . When an asset is in the operational environmentD . During the delivery stage of a project View Answer Answer: A...
Which is NOT a key element of stakeholder consultation?
Which is NOT a key element of stakeholder consultation?A . Ensuring that all major stakeholders for the project have been identified and engagedB . Ensuring that the same stakeholder representatives are involved throughout the projectC . Ensuring that stakeholders are provided with timely, specific and clear information regarding proposals and their impacts throughout the...
Which statement regarding the Function Analysis Systems Technique is true?
Which statement regarding the Function Analysis Systems Technique is true?A . Functions should describe the features of a product rather than what it doesB . A Primary Basic Function consists of one or more Higher Order FunctionsC . A Primary Basic Function consists of one or more Primary Supporting FunctionsD . Moving from the...
Who prepares each Value Improving Proposal?
Who prepares each Value Improving Proposal?A . The MoV Study LeaderB . The Programme Owner, who assesses relevant value priorities during Value ProfilingC . The Value Metric OwnerD . The owner of the relevant idea or scenario allocated during the selection process View Answer Answer: D...