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Question: 4

Which statement about MoV is true?

  1. It supports decision-making based on minimizing value for money
  2. It encourages innovation outside of an organization’s goals
  3. It facilitates optimal balance between investment and long-term operating expenditure
  4. It removes resources from consideration when reviewing organizational needs

Answer: C

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Question: 4

Which statement about MoV is true?

  1. It supports decision-making based on minimizing value for money
  2. It encourages innovation outside of an organization’s goals
  3. It facilitates optimal balance between investment and long-term operating expenditure
  4. It removes resources from consideration when reviewing organizational needs

Answer: C

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Question: 1

Which statement about implementing a Value Improving Proposal is FALSE?

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

Answer: D

Question: 5

How is cost benefit analysis applied during an MoV Study?

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

Answer: A