Which is an MoV Principle?

A. Understand and articulate value

B. Process information

C. Focus on functions and required outcomes

D. Prioritize value

What is used to assess whether a particular Value Driver represents good value for money?

A. Value index

B. Cost/benefit analysis

C. Cost/worth analysis

D. Cost/function analysis

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 products

B. Value Engineering is applied to manufactured and constructed products and Value Analysis is applied to services and business processes

C. Value Analysis is applied to determine required cost and performance targets and Value Engineering is applied to realize those targets

D. Value Analysis and Value Engineering, while similar, differ in that they employ different process steps

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

A. Root Cause Analysis

B. Soft Systems Methodology

C. Value Profiling

D. Cost Function Analysis

Which is true of MoV?

A. It is better suited to the private rather than the public sector

B. It is an informal approach to maximizing value

C. Compliance with MoV processes is a good measure of added value

D. Value Improving Proposal

How are Value Drivers used when creating a Value Tree?

A. The Value Tree is derived from the Value Profile after prioritising the Value Drivers

B. Value Drivers describe the physical elements of the project in the Value Tree

C. Primary Value Drivers are linked to statements describing design considerations which in turn are linked to a statement of objectives

D. Value Drivers are linked (as roots) to a statement of SMART objectives (the tree trunk)

Which describes the range of return on investment that has been demonstrated by US Government departments as a result of the application of MoV approaches?

A. Less than 10 to 1

B. Less than 20 to 1

C. Less than 30 to 1

D. More than 30 to 1

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

A. Creativity

B. Value Definition

C. Analysis

D. Development

How many types of value mismatches can the Analysis phase of the Value Engineering Job Plan reveal?

A. Three

B. Four

C. Five

D. Six

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