EXIN EXIN Certifications MOVF Questions & Answers

• Question 41:

  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?

  Correct Answer: C

• Question 42:

  When should an organization consider it necessary to fully embed MoV?

  A. MoV is running only on a project-by-project basis

  B. The scale of MoV applications become large and frequent enough to justify an internal delivery capability

  C. The organization anticipates that their MoV needs will be minimal and external resource can be procured on an 'as-needed' basis

  D. Senior Management ask to be convinced of the merits of MoV before committing to the process

  Correct Answer: B

• Question 43:

  Why is it essential to manage value deliberately?

  A. Value is subjective and without a deliberate approach will NOT be fully realised

  B. Value can only be realized when focusing on minimizing cost

  C. Value can only be realized if there is a focus on needs rather than desires

  D. A consistent process, rigidly applied is essential to realize value

  Correct Answer: A

• Question 44:

  How many types of value mismatches can the Analysis phase of the Value Engineering Job Plan reveal?

  A. Three

  B. Four

  C. Five

  D. Six

  Correct Answer: B

• Question 45:

  Which is the main Study Output from the Start Up or Inception stage of a project?

  A. Information to clarify a viable Brief

  B. Functional definition of project

  C. Information to improve the Business Case

  D. Maximized value

  Correct Answer: C

• Question 46:

  Which is one of the three main areas where it is necessary to strike a balance to maximise value?

  A. Controlling costs in line with programme and project objectives

  B. Identifying benefits in line with programme and project objectives

  C. Meeting every stakeholder's initial expectations

  D. Redistributing resources across different value drivers

  Correct Answer: D

• Question 47:

  Which is the main reason that an MoV Project Plan needs to be reviewed when the Business Case changes?

  A. To maintain business profitability

  B. To ensure that the choice of team members is still appropriate

  C. To ensure selected tools and techniques are still appropriate

  D. To ensure that the Value Profile reflects the changed needs of the business

  Correct Answer: D

• Question 48:

  Which is MOST APPROPRIATE when estimating costs where the scope is uncertain?

  A. Wait until the scope is certain and then estimate

  B. Estimate only those areas where the scope is certain

  C. Start with an initial best guess estimate and update it as more information becomes known

  D. Develop a cost model and refine the scope to meet the cost model

  Correct Answer: C

• Question 49:

  Which approach can hide opportunity for innovation when benchmarking?

  A. Focusing on anomalies, rather than problems in common, identified by benchmarking

  B. Benchmarking exclusively with same type organisation

  C. Benchmarking against a wide pool of organisations whose only feature in common lies in the type of process used

  D. Making any external comparison

  Correct Answer: B

• Question 50:

  What is the worth of a Function?

  A. Its relative importance

  B. The current cost of performing it

  C. The lowest cost at which it could be performed

  D. Its objective

  Correct Answer: C