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Free MOVF Exam Braindumps (page: 7)

Page 6 of 26
PDF with 100 Questions

What is provided by a Value Improving Proposal (VIP)?

  1. Information which the decision-makers need in order to decide whether to implement the VIP in full, partially, or not at all
  2. A detailed record of the existing situation that the VIP is intended to improve, including the functions carried out
  3. Information which Senior Management needs in order to implement the VIP
  4. A detailed implementation plan for each VIP

Answer(s): A



Why may cost benefit analysis (CBA) be applied when developing a Value Improving Proposal (VIP)?

  1. It compares the initial magnitude of cost of an MoV Study with the long term benefits it will deliver
  2. All new policies, programmes and projects should be subject to comprehensive but proportionate assessment
  3. It is used in conjunction with discounted cash flow to ensure that the lowest cost VIP is always selected
  4. It assesses the benefits of implementing a proposal against the risk that the VIP may fail

Answer(s): B



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

  1. The final step should be to develop the Value Improving Proposals
  2. The first step should be to define the MoV Study objectives
  3. The Implementation Plan should be agreed before setting targets for benefits improvement
  4. The Value Drivers should be prioritized before identifying the functions

Answer(s): B



Which is a main method of Function Analysis?

  1. Value Improving Proposal
  2. Value Tree
  3. Discounted Cash Flow
  4. Brainstorming

Answer(s): B






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