Why is it essential to manage value deliberately?

January 16, 2021PdfprepMOVFMOVF Certification, MOVF exam questions, MOVF practice exam

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 . Value...

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How many phases does the MoV Value Engineering Job Plan contain?

January 16, 2021PdfprepMOVFMOVF Certification, MOVF exam questions, MOVF practice exam

How many phases does the MoV Value Engineering Job Plan contain?A . SixB . TenC . TwelveD . EightView AnswerAnswer: D

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When would MoV NOT be of use?

January 15, 2021PdfprepMOVFMOVF Certification, MOVF exam questions, MOVF practice exam

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 operational...

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

January 13, 2021PdfprepMOVFMOVF Certification, MOVF exam questions, MOVF practice exam

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 expert...

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

January 13, 2021PdfprepMOVFMOVF Certification, MOVF exam questions, MOVF practice exam

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 with...

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Value mismatches are identified in which phase of the Value Engineering Job Plan?

January 12, 2021PdfprepMOVFMOVF Certification, MOVF exam questions, MOVF practice exam

Value mismatches are identified in which phase of the Value Engineering Job Plan?A . CreativityB . Value DefinitionC . AnalysisD . DevelopmentView AnswerAnswer: C

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Which is a correct distinction between Value Engineering and Value Analysis?

January 12, 2021PdfprepMOVFMOVF Certification, MOVF exam questions, MOVF practice exam

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 to...

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Which statement regarding the steps in the Generic MoV Study Plan is true?

January 11, 2021PdfprepMOVFMOVF Certification, MOVF exam questions, MOVF practice exam

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 MoV...

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Which technique focuses on underlying issues, rather than solving specific problems?

January 5, 2021PdfprepMOVFMOVF Certification, MOVF exam questions, MOVF practice exam

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

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When should an organization consider it necessary to establish in-house MoV delivery capability?

January 3, 2021PdfprepMOVFMOVF Certification, MOVF exam questions, MOVF practice exam

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 enough...

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