1. What does value management aim to achieve?
Maximizing value across initiatives
Minimizing costs at all costs
Focusing only on customer satisfaction
Eliminating project risks
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✅ Correct Answer: Maximizing value across initiatives
2. What is the purpose of a Value Management Plan?
Define how value will be maximized
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define how value will be maximized
3. What is the purpose of a Value Profile?
Document the value objectives and outcomes
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Document the value objectives and outcomes
4. Which technique is used to assess value?
Value Assessment Matrix
Gantt Chart
Stakeholder Analysis
Risk Register
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✅ Correct Answer: Value Assessment Matrix
5. What is the purpose of a Value Workshop?
Identify and prioritize value opportunities
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Identify and prioritize value opportunities
6. Which technique is used to prioritize value opportunities?
Weighted Scoring Model
Gantt Chart
Stakeholder Analysis
Risk Register
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✅ Correct Answer: Weighted Scoring Model
7. What is the purpose of a Value Realization Plan?
Define how value will be realized
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define how value will be realized
8. Which technique is used to measure value?
Key Performance Indicators (KPIs)
Gantt Chart
Stakeholder Analysis
Risk Register
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✅ Correct Answer: Key Performance Indicators (KPIs)
9. What is the purpose of a Value Review?
Evaluate the achievement of value objectives
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Evaluate the achievement of value objectives
10. Which technique is used to optimize value?
Value Optimization
Gantt Chart
Stakeholder Analysis
Risk Register
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✅ Correct Answer: Value Optimization
11. What is the purpose of a Value Governance Framework?
Define decision-making processes for value management
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define decision-making processes for value management
12. Which technique is used to align value opportunities with strategic objectives?
Strategic Alignment
Gantt Chart
Stakeholder Analysis
Risk Register
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✅ Correct Answer: Strategic Alignment
13. What is the purpose of a Value Dashboard?
Provide a visual summary of value performance
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Provide a visual summary of value performance
14. Which technique is used to evaluate value performance?
Key Performance Indicators (KPIs)
Gantt Chart
Stakeholder Analysis
Risk Register
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✅ Correct Answer: Key Performance Indicators (KPIs)
15. What is the purpose of a Value Risk Management Plan?
Define how value risks will be managed
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define how value risks will be managed
16. Which technique is used to prioritize value investments?
Investment Prioritization
Gantt Chart
Stakeholder Analysis
Risk Register
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✅ Correct Answer: Investment Prioritization
17. What is the purpose of a Value Communication Plan?
Define how value information will be shared
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define how value information will be shared
18. Which technique is used to assess value realization?
Value Realization Assessment
Gantt Chart
Stakeholder Analysis
Risk Register
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✅ Correct Answer: Value Realization Assessment
19. What is the purpose of a Value Review?
Evaluate the achievement of value objectives
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Evaluate the achievement of value objectives
20. Which technique is used to manage value resources?
Resource Allocation
Gantt Chart
Stakeholder Analysis
Risk Register
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✅ Correct Answer: Resource Allocation
21. What is the purpose of Value Identification?
Recognize value opportunities
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Recognize value opportunities
22. What is the purpose of Value Analysis?
Evaluate value characteristics
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Evaluate value characteristics
23. What is the purpose of Value Evaluation?
Prioritize value opportunities
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Prioritize value opportunities
24. What is the purpose of Value Realization?
Achieve identified value
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Achieve identified value
25. What is the purpose of Value Communication?
Share value information
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Share value information
26. What is the purpose of Value Monitoring?
Track value status
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Track value status
27. What is the purpose of Value Review?
Evaluate value management
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Evaluate value management
28. What is the purpose of Value Recording?
Document value information
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Document value information
29. What is the purpose of Value Appetite?
Define target value level
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define target value level
30. What is the purpose of Value Tolerance?
Specify acceptable variance
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Specify acceptable variance
31. What is the purpose of Value Criteria?
Establish evaluation standards
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Establish evaluation standards
32. What is the purpose of Value Context?
Define assessment environment
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define assessment environment
33. What is the purpose of Value Sources?
Identify value origins
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Identify value origins
34. What is the purpose of Value Events?
Describe potential opportunities
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Describe potential opportunities
35. What is the purpose of Value Benefits?
Detail possible gains
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Detail possible gains
36. What is the purpose of Value Likelihood?
Estimate probability
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Estimate probability
37. What is the purpose of Value Impact?
Assess potential effect
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Assess potential effect
38. What is the purpose of Value Controls?
Implement safeguards
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Implement safeguards
39. What is the purpose of Value Realization Options?
Select achievement approaches
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Select achievement approaches
40. What is the purpose of Value Realization Plans?
Document achievement actions
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Document achievement actions
41. What is the purpose of Value Reporting?
Communicate value status
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Communicate value status
42. What is the purpose of Value Reviews?
Evaluate value management
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Evaluate value management
43. What is the purpose of Value Audits?
Assess process effectiveness
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Assess process effectiveness
44. What is the purpose of Value Lessons Learned?
Capture improvement opportunities
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Capture improvement opportunities
45. What is the purpose of Value Culture?
Shape organizational attitudes
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Shape organizational attitudes
46. What is the purpose of Value Maturity?
Evaluate capability level
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Evaluate capability level
47. What is the purpose of Value Framework?
Provide management structure
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Provide management structure
48. What is the purpose of Value Process?
Define management steps
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define management steps
49. What is the purpose of Value Tools?
Support value activities
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Support value activities
50. What is the purpose of Value Techniques?
Implement analysis methods
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Implement analysis methods
51. What is the purpose of Value Principles?
Guide value management
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Guide value management
52. What is the purpose of Value Approach?
Define management strategy
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define management strategy
53. What is the purpose of Value Policy?
Establish organizational stance
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Establish organizational stance
54. What is the purpose of Value Governance?
Ensure proper oversight
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Ensure proper oversight
55. What is the purpose of Value Roles?
Define responsibilities
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define responsibilities
56. What is the purpose of Value Responsibilities?
Assign accountabilities
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Assign accountabilities
57. What is the purpose of Value Training?
Develop value skills
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Develop value skills
58. What is the purpose of Value Communication Plan?
Define information sharing
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Define information sharing
59. What is the purpose of Value Metrics?
Measure performance
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Measure performance
60. What is the purpose of Value Improvement?
Enhance capabilities
Track project costs
Assign project resources
Define project scope
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✅ Correct Answer: Enhance capabilities