EX0-006 Online Practice Questions and Answers

Who prepares each Value Improving Proposal?

A. The MoV Study Leader

B. The Programme Owner, who assesses relevant value priorities during Value Profiling

C. The Value Metric Owner

D. The owner of the relevant idea or scenario allocated during the selection process

Which is a key component of the Frame the Programme or Project process?

A. Initial briefing meeting

B. Team selection

C. Resource analysis

D. Idea selection

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

What should reflect the value drivers in the value cascade?

A. Design solutions

B. Design Considerations

C. Project goals

D. Value Metrics

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

A. The project team

B. Programme owners or Project Sponsors and End Users

C. The MoV Study Team

D. Functional experts

Which describes a purpose of the MoV Study Handbook?

A. It allows Senior Managers to objectively review proposals to determine which should be

B. implemented

C. It ensures that the Study Team are all working from the same level of information

D. It assigns Proposal Owners to all development proposals

E. It helps to ensure that the requirements of the Project Sponsors and end users are aligned

Why should MoV align with an organisation's objectives?

A. To minimise the costs of delivering the project

B. To maximise benefits arising from the project

C. To meet stakeholder expectations

D. To avoid maximising value within one project that could diminish value across the wider programme

Which document, prepared during a MoV Study, includes developed recommendations for improving value in a project?

A. MoV Implementation Strategy

B. Value Improving Proposal

C. MoV Project Plan

D. MoV Policy

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

A. Initial briefing meeting

B. Team selection

C. Resource analysis

D. Idea selection

Which is a fundamental question that Value Management is intended to address?

A. Are we maximizing our investments at an affordable cost by removing risk?

B. Are we maximizing our investments by focussing on minimizing costs?

C. Are we maximizing our investments at an affordable cost with a known and acceptable level of risk?

D. Are we maximizing our investments based on all stakeholder requirements?