Management of Value Foundation Practice Test

MOVF Exam Format | Course Contents | Course Outline | Exam Syllabus | Exam Objectives

EXAM CODE: MOVF
EXAM NAME: Management of Value Foundation

40 minutes duration
Closed book
50 multiple-choice questions
50% pass mark

Delegates are introduced to the world of the Management of Value and to the overall structure of MOV.

What is value
What is MoV
Why it is needed
Its place in the Cabinet Office Best Practice Guidance
Its relationship to other management methods
The 7 MoV Principles

MOV operates within a universal set of principles that can be applied to any environment. These seven principles provide the framework of good practice upon which MOV is based and include:

Align with organisation's objectives
Focus on functions and required outcomes
Balance the variables to maximise value
Apply throughout the investment decision
Tailor to suit the subject
Learn from experience and improve performance
Assign clear roles and responsibilities and build a supportive culture
The 7 MoV Processes

The seven MOV processes provide a clear plan for implementing the outputs and monitoring their effective delivery.

Frame the programme or project
Gather information
Analyse information
Process information
Evaluate and select
Develop Value Improving Proposals
Implement and share outputs
MoV Techniques

This part of the course covers the MoV specific techniques and common techniques that are frequently used with MoV.

Implementing MoV

The implementation, embedding and need for embedding MOV into an organisation is covered here and includes:

Planning MoV activities
Responding to external and internal factor.
Portfolio, Programme, and Project considerations
Operational considerations
Embedding MoV into an organisation
MOV Foundation Examination

All delegates will sit the MoV® Foundation examination, which consists of:

Key exam information:

Throughout the MOV Foundation course, delegates will be exposed to numerous examples of examination questions. We will undertake a number of exercises and 'question-and-answer' sessions that will help consolidate the learning, thereby ensuring that delegates are more than adequately prepared for the final examination.

MOV Practitioner Examination

The purpose of the Practitioner qualification is to confirm that you have achieved sufficient understanding of how to apply and tailor MoV in a scenario situation. The experience of the individual, the level of support available and the complexity of the situation to which MoV is to be applied will be factors that impact what the Practitioner can achieve.

PeopleCert exams take place remotely via PeopleCert Online Proctoring, and the afternoon of the third and last day of your course will continue with your learning until approximately 4.00pm. When booking your exam please ensure that it is for a time after the course has concluded and at a time convenient for you. You will be required to download and install ExamShield and conduct a compatibility test prior to sitting the exam.

Objective testing

8 questions per paper with 10 marks available per question - all question items are worth 1 mark, making the total number of marks available per paper 80

Duration 2 ½ hours
Open book exam - only the MOV manual is permitted to be used
50% pass mark

100% Money Back Pass Guarantee

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Exin
MOVF
Management of Value Foundation
https://killexams.com/pass4sure/exam-detail/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?
A. The MoV team as a whole
B. The most relevant functional manager
C. The allocated owner of the value improving proposal
D. 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?
A. Sunk costs increase as a project progresses
B. Project team members gain increased ownership of their work
C. Resistance to change increases
D. Project objectives are less clear
28
Answer: D
QUESTION: 93
What is the principal output from allocation to categories and the idea selection matrix?
A. A list of rejected ideas
B. A list of ideas or options that should be developed further
C. Plans to develop selected ideas into value improving proposals
D. Approved value improving proposals
Answer: B
QUESTION: 94
Which statement about a decision building meeting is true?
A. It should be chaired by the senior responsible owner.
B. The owner, responsible for implementation, has already been determined by the MoV
team before the meeting.
C. Decisions from the meeting should form the basis of the proposal implementation
plan
D. 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?
A. Understand and articulate value
B. Tailor MoV activity to suit the subject
C. Frame the programme or project
D. Apply MoV throughout the investment decision
Answer: A
29
QUESTION: 96
How is a function described in Function Analysis in MoV?
A. Verb only
B. Adjective and verb
C. Verb and noun
D. Adjective and noun
Answer: C
QUESTION: 97
Which is a key component of the Evaluate and Select process?
A. Initial briefing meeting
B. Team selection
C. Resource analysis
D. 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
30
Why should MoV align with an organisations objectives?
A. To minimise the costs of delivering the project
B. To maximise benefits arising from the project
C. To meet stakeholder expectations
D. 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?
A. Portfolio definition
B. Multi-criteria analysis
C. Prioritize
D. Strategy alignment
Answer: D
31
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