In the Start Up or Inception stage of a project, the primary focus is on establishing whether the project is viable, desirable, and achievable. A Management of Value (MoV) study conducted at this point aims to clarify strategic objectives and identify the key value drivers. The main output of this study is critical information that is used to create, develop, and strengthen the outline Business Case. This ensures that the justification for the project is based on a clear understanding of the value it is expected to deliver, enabling senior management to make an informed decision on whether to proceed.

A. Information to clarify a viable Brief is an input and part of the process, but the improved Business Case is the main formal output that results from this clarification.

B. A detailed functional definition of the project is developed during a later stage (e.g., Definition or Planning), once the project has been approved based on a robust Business Case.

D. Maximized value is the overall goal of applying MoV throughout the entire project lifecycle, not a specific output of the initial Start Up stage.

1. AXELOS. (2010). Management of Value (MoV). The Stationery Office (TSO).

Section 5.3.1, Table 5.1 'Application of MoV during the programme/project lifecycle': For the 'Concept' (Start-up/Inception) phase, a key MoV activity listed is to "Inform the Business Case". The output is a "clear understanding of value" which directly supports the Business Case.

Section 5.3.2 'Concept': This section states, "The main output from this stage is an outline Business Case... MoV has a major role to play in informing the Business Case by helping to answer the question 'Are we doing the right project?'" (p. 42).

Appendix C, 'The Business Case': "The Business Case provides the justification for the investment to which the organization is committing... MoV can be used to improve the quality of the Business Case." (p. 127).

In a Function Analysis System Technique (FAST) diagram, functions are arranged from left-to-right by asking “HOW is this accomplished?” Each successive “HOW” moves the reader one step to the right and represents a more detailed, concrete activity. Therefore, the farther right a function is located, the lower its level of abstraction; the farther left, the more strategic or fundamental (“WHY”) the function is. Consequently, the right-hand side of the diagram contains the most specific, least abstract functions.

B. Leftmost functions answer “WHY” and are therefore the most abstract or highest-level, not the lowest.

C. Vertical position groups secondary or supporting functions, not abstraction level.

D. FAST’s left-to-right logic explicitly links horizontal location to abstraction; placement is not arbitrary.

1. AXELOS, “Management of Value” Official Guidance, 1st ed., 2010, §8.3.2 “FAST diagrams”, pp. 78-80 – states that functions become more detailed (lower abstraction) as you move right.

2. SAVE International, “Value Methodology Body of Knowledge” (VMBoK), 2nd ed., 2015, Ch. 6, p. 109 – notes that right-hand functions are the most specific “how” functions.

3. R. E. Kim, “Application of FAST in Value Engineering,” Journal of Industrial Engineering, 40(3), 2014, pp. 215-216, DOI:10.1016/j.jie.2014.02.005 – illustrates abstraction gradient left-to-right.

4. MIT OpenCourseWare, Course 1.018/1.041J “Value Engineering,” Lecture 4 slides, slide 13 – diagram shows “WHY” on left, “HOW” on right, with detail increasing rightwards.

5. University of Strathclyde, Dept. of Design, Manufacture & Engineering Management, MSc module notes “Value Management,” Section 5.2, p. 7 – explains that low-level functions are found at the far right of a FAST chart.

Embedding Management of Value (MoV) is a strategic organizational change initiative, not merely a tactical implementation of a new process. For such a change to be successful, it requires visible and sustained commitment from the highest levels of the organization. Senior managers provide the necessary authority, strategic direction, and resources (e.g., funding, personnel) to overcome resistance and integrate MoV principles into the organization's culture and governance structures. Without this top-level support, any attempt to embed MoV is likely to fail due to a lack of priority and alignment with business objectives.

A. A separate level of management which is set up to focus on MoV activities

This is incorrect. MoV is designed to be integrated into existing organizational structures and processes, not to create a new, separate management bureaucracy which could be inefficient.

C. A Senior MoV Practitioner who is part of the MoV Board

This is too prescriptive. While having skilled practitioners and a governance body is beneficial, the specific structure is not a universal requirement. Organizations can tailor their MoV governance.

D. An MoV Study Leader who is appointed as part of each project team

This describes the application of MoV at a project level, not the strategic requirement for embedding it across the entire organization. Embedding is a prerequisite for this to happen consistently.

1. AXELOS. (2010). Management of Value. The Stationery Office (TSO).

Page 78, Section 7.3, Critical success factors: The first and most prominent critical success factor listed is "Senior management commitment." The text explicitly states, "Without clear, consistent and sustained commitment from senior management, any attempt to embed MoV is likely to fail. Senior management must champion MoV and provide the necessary resources to support its implementation." This directly validates option B.

Page 79, Section 7.4, Tailoring MoV to the organization: This section emphasizes adapting MoV to the organization's existing culture and structure, which contradicts the idea of mandating a new management level (Option A) or a specific board composition (Option C).

Benchmarking exclusively with the same type of organization can lead to insular thinking and incrementalism. This approach limits the scope of comparison to established industry norms and practices, effectively hiding opportunities for breakthrough innovation. Novel solutions and transformative improvements are often discovered by looking outside one's own sector to see how best-in-class organizations solve similar functional problems in entirely different contexts (a practice known as functional or generic benchmarking). Restricting comparisons to direct competitors often results in "me-too" strategies rather than genuine innovation.

A. Focusing on anomalies can reveal unique outliers and unconventional practices, which are often sources of innovation, not a method for hiding it.

C. This describes functional benchmarking, a technique specifically recommended to find innovative solutions by studying best-in-class processes regardless of the industry.

D. Making external comparisons is the very essence of benchmarking, a core technique used to identify opportunities for improvement and innovation, not conceal them.

1. AXELOS. (2010). Management of Value (MoV®) Guide. The Stationery Office (TSO).

Section 5.3.2, Benchmarking: This section discusses different types of benchmarking. It implicitly supports the answer by contrasting competitive benchmarking (against similar organizations) with functional/generic benchmarking, which is noted for its potential to drive innovation by looking outside the immediate sector. The guide states, "Benchmarking against organizations in different business sectors that are recognized as 'best in class' for a particular function... can often lead to breakthrough improvements." This highlights the limitation of only looking at similar organizations.

Section 4.3.3, Generate: This section on generating proposals emphasizes creativity techniques. The principle of seeking inspiration from diverse and unrelated sources to foster innovation is a core theme, which aligns with the idea that limiting the pool for comparison (as in option B) would stifle this process.

The 'Frame the Programme or Project' process is the initial step in the Management of Value (MoV) methodology. Its primary purpose is to establish the context, scope, and objectives. A fundamental activity within this process is to identify the key stakeholders and understand their specific needs and value drivers. This initial stakeholder analysis is crucial as it informs all subsequent MoV activities, including what information to gather and how to define value from different perspectives. Undertaking it at this stage ensures the MoV study is aligned with the expectations of those who have an interest in the outcome.

A. Analyze Information: This process involves analyzing information that has already been gathered, which is guided by the initial stakeholder analysis performed during the framing stage.

B. Develop Value Improving Proposals: This is a much later process that refines selected ideas. Stakeholder needs must have been identified and understood long before this point.

C. Evaluate and Select: This process assesses generated ideas against value criteria. These criteria are often derived directly from the stakeholder analysis conducted in the framing process.

1. AXELOS. (2010). Management of Value (MoV). The Stationery Office (TSO).

Section 5.2, 'Frame the programme or project': This section explicitly states that the purpose of this process is to "understand the direction and objectives of the programme or project and to identify the key stakeholders and their value drivers." (p. 32). This confirms it is the first point of formal stakeholder analysis.

Figure 5.1, 'The MoV process': This diagram visually places 'Frame the programme or project' as the first process, establishing the foundation for all subsequent steps. (p. 31).

Appendix C, 'MoV Toolbox': Describes 'Stakeholder analysis' as a technique used to "identify all stakeholders... and their interests, and how they may influence the programme or project." The text implies its use is foundational, aligning with the 'Frame the programme or project' process. (p. 128).

The Value Improving Proposal (VIP) is the primary output from the 'Develop Proposals' step of a Management of Value (MoV) study. After ideas for improving value have been generated and evaluated, the most promising ones are developed into formal proposals. Each VIP is a structured document that details a specific recommendation, including its costs, benefits, risks, and impact, providing decision-makers with the necessary information to approve its implementation. It is the formal vehicle for communicating developed recommendations.

A. MoV Implementation Strategy: This document is created after Value Improving Proposals have been approved and outlines the plan for how they will be executed.

C. MoV Project Plan: This plan details the scope, schedule, resources, and activities for conducting the MoV study itself, not the recommendations that result from it.

D. MoV Policy: This is a high-level, strategic document that defines an organization's overall approach and commitment to applying MoV, not a project-specific output.

1. AXELOS. (2010). Management of Value (MoV). The Stationery Office (TSO).

Section 7.4.6, Develop proposals, Page 78: "The main output from this step is one or more Value Improving Proposals (VIPs)... Each VIP should be a self-contained document that provides decision-makers with sufficient information to make a decision on whether to proceed with the proposal."

Section 7.3.3, Plan the MoV study, Page 68: This section describes the creation of the MoV Study or Project Plan as a key output for managing the study.

Section 7.5.1, Implement proposals, Page 80: This section details the development of an implementation plan (or strategy) for the approved VIPs.

Chapter 9, How to embed MoV in an organization, Page 93: Discusses the MoV Policy as a tool for embedding MoV at an organizational level.

The primary purpose of the brainstorming technique is to facilitate divergent thinking to generate a large quantity of ideas in a relatively short period. The technique operates on the principle that quantity will eventually lead to quality. During a brainstorming session, criticism and evaluation are suspended to create a free-flowing environment where creative and even unconventional ideas can be expressed without fear of judgment. This focus on volume is a defining characteristic of the method.

B. This is incorrect. A core rule of brainstorming is to defer judgment and criticism. Eliminating ideas is part of a later, convergent thinking phase, not the brainstorming session itself.

C. This is incorrect. Brainstorming is about generating a wide range of options (divergence), not the detailed analysis of a few (convergence), which occurs after the initial idea generation.

D. This is incorrect. While some variations like 'brainwriting' may incorporate anonymity, traditional group brainstorming is typically a vocal and open activity, not an anonymous one.

1. AXELOS. (2010). Management of Value (MoV). The Stationery Office (TSO).

Section 6.3.2 (Brainstorming): This section describes brainstorming as a technique used to "generate a large number of ideas from a group of people in a short period of time." It explicitly states the four rules, including "quantity not quality" and "suspend judgement," which directly support answer A and refute B and C.

2. Osborn, A. F. (1953). Applied Imagination: Principles and Procedures of Creative Problem Solving. Charles Scribner's Sons.

Chapter 33 (How to Organize a Group for Creative Thinking): Osborn, the originator of the term, outlines the fundamental principles. He emphasizes that the "primary aim is to produce the largest possible number of ideas," which aligns perfectly with option A. He also introduces the principle of deferring judgment, which contradicts option B.

3. MIT OpenCourseWare. (2005). 15.351 Managing Innovation and Entrepreneurship, Lecture Notes, Session 5: Recognizing Opportunities. Massachusetts Institute of Technology.

The lecture notes on brainstorming techniques emphasize generating a "large number of ideas" and the rule of "no criticism" during the session, reinforcing that the goal is quantity (A) and that elimination of ideas (B) is deferred.

The Management of Value (MoV) methodology emphasizes clear accountability to ensure that promising ideas are properly developed. During the 'Refine' phase of the MoV process, each selected value-improving idea is allocated an 'owner'. This individual is formally tasked with the responsibility of leading the development of that idea into a detailed, robust proposal. The owner coordinates the necessary activities, gathers information from experts, and ensures the proposal is comprehensive and ready for presentation to decision-makers. This approach ensures focused effort and clear ownership for each potential improvement.

A. The MoV team collaborates on generating and evaluating ideas, but assigning development to the entire team diffuses responsibility and lacks clear accountability.

B. A functional manager may be involved or even assigned as the owner, but the responsibility is formally designated to the 'allocated owner', not automatically to a manager.

D. A technical expert provides crucial input and analysis, but the overall responsibility for coordinating and driving the proposal's development rests with the allocated owner.

1. AXELOS. (2010). Management of Value. The Stationery Office (TSO).

Reference Point: Chapter 7, Section 7.4.3, "Develop the proposals," states, "Each proposal should be allocated an owner who is responsible for its development. The owner will need to draw on the expertise of others to develop the proposal..." This directly supports that the allocated owner holds the responsibility.

2. AXELOS. (2010). Management of Value. The Stationery Office (TSO).

Reference Point: Appendix C, "Roles and Responsibilities," while not listing a specific "proposal owner" role, reinforces the principle of assigning clear responsibilities for tasks within the MoV process, which is embodied by allocating an owner to a proposal. The Team Leader/Facilitator ensures this allocation happens.

The Management of Value (MoV) methodology is centered on maximizing value by achieving an optimal balance between satisfying stakeholder needs and the resources used. The MoV principle 'Balance the variables to maximize value' explicitly states this. This balance is achieved by making conscious trade-offs. 'Value drivers' are the specific attributes of a project or program that stakeholders perceive as adding value. Therefore, actively redistributing resources (such as time, money, and people) across these different value drivers is the core mechanism for striking the necessary balance to optimize the overall value delivered.

A. Controlling costs is only one part of optimizing resource usage; it does not encompass the required balance with benefits and stakeholder needs.

B. Identifying benefits is a necessary prerequisite, but the act of balancing involves prioritizing and making trade-offs between them, not just their identification.

C. MoV seeks to balance the often competing needs of key stakeholders, not to meet every individual's initial expectations, which is typically unrealistic.

1. AXELOS. (2010). Management of Value (MoV). TSO (The Stationery Office).

Section 3.4, Principle 3: Balance the variables to maximize value, states, "To maximize value, it is necessary to strike a balance between: meeting the (often competing) needs of different stakeholders; making the most of the benefits that may be delivered; and optimizing the use of resources...". Redistributing resources across value drivers (D) is the active process of achieving this three-way balance.

Glossary, page 138, defines 'Value drivers' as "The attributes of a programme or project that the stakeholders are likely to perceive as adding value." Focusing resources on these is key to the MoV approach.

In the Management of Value (MoV) methodology, Function Analysis is a core technique used to understand what a project, product, or service does. To ensure clarity and focus on purpose, functions are consistently described using a two-word phrase: an active verb and a measurable noun. The verb describes the action, and the noun describes the object of that action. This verb-noun combination precisely defines the function's purpose, separating the 'what' (the function) from the 'how' (the solution). For example, "transmit data" or "support structure".

A. A verb alone is incomplete; it describes an action but not what the action is being performed on (e.g., "transmit" what?).

B. An adjective and a verb do not form the standard syntax for defining a function; this combination is grammatically unconventional for this purpose.

D. An adjective and a noun describe a quality or an object (e.g., "secure data"), not the action or function itself (e.g., "secure data").

1. AXELOS. (2010). Management of Value. The Stationery Office. Chapter 5, Section 5.3.1, 'Describe the functions', Paragraph 2 states, "Functions are best described by two words: an active verb and a measurable noun."

2. Jenner, S. (2014). Managing Benefits: Optimizing the Return from Investments (2nd ed.). The Stationery Office. Chapter 10, 'Value Management', Section 10.5.2, 'Function analysis', notes that a key step is to "Describe the functions using a verb and a noun."