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MOVF - Management of Value(R) Foundation - Dump Information

Vendor : Exin
Exam Code : MOVF
Exam Name : Management of Value(R) Foundation
Questions and Answers : 100 Q & A
Updated On : December 15, 2017
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MOVF Questions and Answers

MOVF


QUESTION: 90

Which three criteria explain why the MoV individual competence model is useful to an organisation?

  1. To assess an individual's capabilities and the type of MoV study for which they are suited.

  2. To recognise that a fully but recently qualified practitioner will lack the experience to undertake studies on particularly complex projects.

  3. To enable recently qualified practitioners to learn to undertake MoV where human and cultural factors may be significant.

  4. 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


    Answer: A


    QUESTION: 91

    Who should be responsible for developing a value−improving proposal?


    1. The MoV team as a whole

    2. The most relevant functional manager

    3. The allocated owner of the value improving proposal

    4. A technical expert nominated by the allocated owner


Answer: C


QUESTION: 92

Which is NOT a reason why it becomes more difficult to implement changes identified by a MoV Study as a project progresses?


  1. Sunk costs increase as a project progresses

  2. Project team members gain increased ownership of their work

  3. Resistance to change increases

  4. Project objectives are less clear


Answer: D


QUESTION: 93

What is the principal output from allocation to categories and the idea selection matrix?


  1. A list of rejected ideas

  2. A list of ideas or options that should be developed further

  3. Plans to develop selected ideas into value improving proposals

  4. Approved value improving proposals


Answer: B


QUESTION: 94

Which statement about a decision building meeting is true?


  1. It should be chaired by the senior responsible owner.

  2. The owner, responsible for implementation, has already been determined by the MoV team before the meeting.

  3. Decisions from the meeting should form the basis of the proposal implementation plan

  4. Attendees should be limited to the senior responsible person, project manager and project sponsor


Answer: C


QUESTION: 95

Which is one stage in the approach to MoV implementation?


  1. Understand and articulate value

  2. Tailor MoV activity to suit the subject

  3. Frame the programme or project

  4. Apply MoV throughout the investment decision


Answer: A


QUESTION: 96

How is a function described in Function Analysis in MoV?


  1. Verb only

  2. Adjective and verb

  3. Verb and noun

  4. Adjective and noun


Answer: C


QUESTION: 97

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


  1. Initial briefing meeting

  2. Team selection

  3. Resource analysis

  4. Idea selection


    Answer: D


    QUESTION: 98

    Which of the following cost types would be considered in calculating discounted cash flow?

    1. Capital or one off costs

    2. Periodic maintenance costs

    3. Regular operational costs

    4. Opportunity costs


      A. 1, 2, 3

      B. 1, 2, 4

      C. 1, 3, 4

      D. 2,3, 4


      Answer: A


      QUESTION: 99


      Why should MoV align with an organisation’s objectives?


      1. To minimise the costs of delivering the project

      2. To maximise benefits arising from the project

      3. To meet stakeholder expectations

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


Answer: D


QUESTION: 100

Which is one of the five portfolio management principles?


  1. Portfolio definition

  2. Multi−criteria analysis

  3. Prioritize

  4. Strategy alignment


Answer: D


Exin MOVF Exam (Management of Value(R) Foundation) Detailed Information

Management of Value® provides a systematic method to define what value means for organizations, and to communicate it clearly to maximize value across portfolios, programs, projects and operations. It reflects the organization's strategic objectives on portfolio level and sets the agenda for the program that delivers these objectives which, in turn, define the projects undertaken to achieve the required outputs.
Exams by levelCode
Foundation
MoV® Foundation Certificate in Value Management MOVF
Practitioner
MoV® Practitioner Certificate in Value Management MOVP
MoV® Foundation Certificate in Value Management
MoV® Foundation Certificate in Value Management
Summary
Management of Value® provides a systematic method to define what value means for organizations, and to communicate it clearly to maximize value across portfolios, programs, projects and operations. It reflects the organization's strategic objectives on portfolio level and sets the agenda for the program that delivers these objectives which, in turn, define the projects undertaken to achieve the required outputs.
Target group
The MoV® Qualification is intended for:
Management and staff in an organization wishing to acquire an understanding of MoV®.
Those involved in directing, managing, supporting and delivering portfolios, programs and projects. This includes:
Senior Management
Program Managers
Project Managers
Change Managers
Project and Program Office staff and their sponsors
Context
Management of Value® Foundation is part of the Best Management Practice Portfolio and is the prerequisite for the Management of Value® Practitioner exam.
e-Competence Framework (e-CF)
Level
e-CF Area e-Competence e-1 e-2 e-3 e-4 e-5
PLAN A.3. Business Plan Development
MANAGE E.1.
Forecast Development

E.2. Project and Portfolio Management
E.5. Process Improvement
E.6. ICT Quality Management
E.7. Business Change Management

Legend for coverage
General
Partial
Superficial
Prerequisites
None.
Exam content
The main processes and techniques used within MoV® and the reasons for using them.
How MoV® may be applied at portfolio, programme, project and operational levels.
The differences in applying MoV® at different stages in a project and the expected outputs from a MoV® Study at each stage.
The circumstances under which MoV® should be used.
The concept of value and how value may be improved.
The main benefits arising from the use of MoV®.
Approaches for implementing MoV®.
How to respond to external and internal influences.
The principles of embedding MoV® into an organization.
The key topics in document check lists, the toolbox, health check, organizational maturity and individual competence.
Click here to download the glossary in the download section in the right column.
Exam Details
Exam duration: 40 minutes
Number of questions: 50
Pass mark: 50% (25 out of 50)
Open book: No
Electronic devices permitted: No
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