EX0-006 Online Practice Questions and Answers

Which technique is MOST EFFECTIVE in stimulating innovation?

A. Apply Brainstorming through freewheeling discussion to trigger ideas in people's minds and then record the best ideas

B. Apply Brainstorming using the Function Analysis model as a guide to focus creative thinking

C. Use creative thinking to evaluate each idea as it is identified, reject the unsuitable ideas and maximize the innovative ones

D. Maintain live and visible records which assess the financial impact of each idea identified to maintain focus on innovative ideas

What are the key activities involved in the Processing Information stage?

A. Preparation, facilitation, creativity and innovation

B. Analysis, creativity and innovation, and evaluation and selection

C. Preparation, target-setting, facilitation, and creativity and innovation

D. Selection of team, preparation of Study Handbook, analysis of data, creativity and Innovation

Which statement about MoV Principles is true?

A. They provide a prescriptive framework for an organization to apply when using MoV

B. NOT all Principles will apply to all projects

C. An organization should use the Principles to develop their own policies and processes

D. They are industry-specific

What is the worth of a Function?

A. Its relative importance

B. The current cost of performing it

C. The lowest cost at which it could be performed

D. Its objective

Which statement about implementing a Value Improving Proposal is FALSE?

A. The Proposal Implementation Plan provides the project managers with details of the expected value improvements (or benefits)

B. Communication flowing from collaborative feedback enhances the effectiveness of MoV and helps build an appropriate culture

C. The Proposal Implementation Plan enables project managers to monitor and manage the implementation process

D. The Proposal Owners are NOT responsible for ensuring that their proposals are implemented

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 statement regarding Value Improving Proposals is FALSE?

A. A Study can combine multiple Value Improving Proposals to form different scenarios

B. A Study may generate multiple Value Improving Proposals with conflicting recommendations

C. Only one Value Improving Proposal should be implemented per Study

D. A Value Improving Proposal should be tested for sensitivity of estimated costs and benefits

Which is one of the three main areas where it is necessary to strike a balance to maximise value?

A. Controlling costs in line with programme and project objectives

B. Identifying benefits in line with programme and project objectives

C. Meeting every stakeholder's initial expectations

D. Redistributing resources across different value drivers

Which would you NOT expect to see in a Proposal Implementation Plan?

A. A list of proposal owners

B. The timescale for the inclusion of proposals

C. A mechanism for review should progress fall below expectations

D. A risk and sensitivity analysis of proposals

Which approach can hide opportunity for innovation when benchmarking?

A. Focusing on anomalies, rather than problems in common, identified by benchmarking

B. Benchmarking exclusively with same type organisation

C. Benchmarking against a wide pool of organisations whose only feature in common lies in the type of process used

D. Making any external comparison