Why is it essential to manage value deliberately?A . Value is subjective and without a deliberate approach will NOT be fully realisedB . Value can only be realized when focusing on minimizing costC ....
How many phases does the MoV Value Engineering Job Plan contain?A . SixB . TenC . TwelveD . EightView AnswerAnswer: D
When would MoV NOT be of use?A . When determining the value of a decommissioned assetB . During the transition of an asset into the operational environmentC . When an asset is in the...
Who should be responsible for developing a value-improving proposal?A . The MoV team as a wholeB . The most relevant functional managerC . The allocated owner of the value improving proposalD . A technical...
Which is MOST APPROPRIATE when estimating costs where the scope is uncertain?A . Wait until the scope is certain and then estimateB . Estimate only those areas where the scope is certainC . Start...
Value mismatches are identified in which phase of the Value Engineering Job Plan?A . CreativityB . Value DefinitionC . AnalysisD . DevelopmentView AnswerAnswer: C
Which is a correct distinction between Value Engineering and Value Analysis?A . Value Engineering is applied to improve evolving designs and Value Analysis is applied to improve existing productsB . Value Engineering is applied...
Which statement regarding the steps in the Generic MoV Study Plan is true?A . The final step should be to develop the Value Improving ProposalsB . The first step should be to define the...
Which technique focuses on underlying issues, rather than solving specific problems?A . Root Cause AnalysisB . Soft Systems MethodologyC . Value ProfilingD . Cost Function AnalysisView AnswerAnswer: A
When should an organization consider it necessary to establish in-house MoV delivery capability?A . When MoV is running only on a project-by-project basisB . When the scale of MoV applications becomes large and frequent...
