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When should an organization consider it necessary to establish in-house MoV delivery capability?
When should an organization consider it necessary to establish in-house MoV delivery capability?A . When MoV is running only on a project-by-project basisB . When the scale of MoV applications becomes large and frequent enough to justify an internal delivery capabilityC . When a third party procurement is running successfullyD...
In which situation should caution be used in deciding whether to apply MoV?
In which situation should caution be used in deciding whether to apply MoV?A . IT projectsB . Products and services with a high value scoreC . Policy-makingD . Lobbying for supportView AnswerAnswer: B
Which is NOT an area where it is necessary to strike a balance in order to maximize value?
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 stakeholdersB . Balancing capital and operating costsC . Balancing the use of resources to reflect their availability and the organization's prioritiesD . Balancing the...
Which method provides a good checklist for communication during an MoV study?
Which method provides a good checklist for communication during an MoV study?A . BrainstormingB . Five Ws and an HC . Function AnalysisD . Cost/WorthView AnswerAnswer: B
Which is a correct distinction between Value Engineering and Value Analysis?
Which is a correct distinction between Value Engineering and Value Analysis?A . Value Engineering is applied to improve evolving designs and Value Analysis is applied to improve existing productsB . Value Engineering is applied to manufactured and constructed products and Value Analysis is applied to services and business processesC ....
Which is an MoV Principle?
Which is an MoV Principle?A . Understand and articulate valueB . Process informationC . Focus on functions and required outcomesD . Prioritize valueView AnswerAnswer: C
Which will be included in the MoV Project Plan?
Which will be included in the MoV Project Plan?A . Identification of suitable candidates to lead and participate in the StudiesB . Key attributes of a proposed StudyC . Constraints applicable to a proposed StudyD . A draft function diagramView AnswerAnswer: A
Which technique focuses on underlying issues, rather than solving specific problems?
Which technique focuses on underlying issues, rather than solving specific problems?A . Root Cause AnalysisB . Soft Systems MethodologyC . Value ProfilingD . Cost Function AnalysisView AnswerAnswer: A
What is provided by a Value Improving Proposal (VIP)?
What is provided by a Value Improving Proposal (VIP)?A . Information which the decision-makers need in order to decide whether to implement the VIP in full, partially, or not at allB . A detailed record of the existing situation that the VIP is intended to improve, including the functions carried...
How many phases does the MoV Value Engineering Job Plan contain?
How many phases does the MoV Value Engineering Job Plan contain?A . SixB . TenC . TwelveD . EightView AnswerAnswer: D
