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

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

A. Six

B. Ten

C. Twelve

D. Eight

Which is NOT a key element of stakeholder consultation?

A. Ensuring that all major stakeholders for the project have been identified and engaged

B. Ensuring that the same stakeholder representatives are involved throughout the project

C. Ensuring that stakeholders are provided with timely, specific and clear information regarding proposals and their impacts throughout the development process

D. Ensuring that regular feedback on progress is given

Which is the main reason that an MoV Project Plan needs to be reviewed when the Business Case changes?

A. To maintain business profitability

B. To ensure that the choice of team members is still appropriate

C. To ensure selected tools and techniques are still appropriate

D. To ensure that the Value Profile reflects the changed needs of the business

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)