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MOVF Questions and Answers
Which three criteria explain why the MoV individual competence model is useful to an organisation?
To assess an individual's capabilities and the type of MoV study for which they are suited.
To recognise that a fully but recently qualified practitioner will lack the experience to undertake studies on particularly complex projects.
To enable recently qualified practitioners to learn to undertake MoV where human and cultural factors may be significant.
To allow recently qualified practitioners to undertake studies on particularly complex projects.
A. 1, 2, 3
B. 1, 2, 4
C. 1, 3, 4
D. 2, 3, 4
Who should be responsible for developing a value−improving proposal?
The MoV team as a whole
The most relevant functional manager
The allocated owner of the value improving proposal
A technical expert nominated by the allocated owner
Which is NOT a reason why it becomes more difficult to implement changes identified by a MoV Study as a project progresses?
Sunk costs increase as a project progresses
Project team members gain increased ownership of their work
Resistance to change increases
Project objectives are less clear
What is the principal output from allocation to categories and the idea selection matrix?
A list of rejected ideas
A list of ideas or options that should be developed further
Plans to develop selected ideas into value improving proposals
Approved value improving proposals
Which statement about a decision building meeting is true?
It should be chaired by the senior responsible owner.
The owner, responsible for implementation, has already been determined by the MoV team before the meeting.
Decisions from the meeting should form the basis of the proposal implementation plan
Attendees should be limited to the senior responsible person, project manager and project sponsor
Which is one stage in the approach to MoV implementation?
Understand and articulate value
Tailor MoV activity to suit the subject
Frame the programme or project
Apply MoV throughout the investment decision
How is a function described in Function Analysis in MoV?
Adjective and verb
Verb and noun
Adjective and noun
Which is a key component of the Evaluate and Select process?
Initial briefing meeting
Which of the following cost types would be considered in calculating discounted cash flow?
Capital or one off costs
Periodic maintenance costs
Regular operational costs
A. 1, 2, 3
B. 1, 2, 4
C. 1, 3, 4
D. 2,3, 4
Why should MoV align with an organisation’s objectives?
To minimise the costs of delivering the project
To maximise benefits arising from the project
To meet stakeholder expectations
To avoid maximising value within one project that could diminish value across the wider programme
Which is one of the five portfolio management principles?