FACILITIES MANAGEMENT & VALUE MANAGEMENT

FACILITIES MANAGEMENT & VALUE MANAGEMENT

University

15 Qs

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FACILITIES MANAGEMENT & VALUE MANAGEMENT

FACILITIES MANAGEMENT & VALUE MANAGEMENT

Assessment

Quiz

Education

University

Practice Problem

Hard

Created by

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Used 5+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the primary purpose of Value Management (VM) in Facilities Management?

To reduce project timelines

To minimize project costs

To improve project outcomes

To eliminate project risks

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the purpose of the Speculation phase in Facilities Management?

To develop a detailed design of the project

To identify potential risks and opportunities

To finalize the project budget

To monitor and maintain the completed project

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is NOT a step in the VM job plan for the Speculation phase?

Develop a project scope statement

Identify project objectives

Develop a project budget

Identify and prioritize value opportunities

Answer explanation

(Developing a project budget is typically not included in the VM job plan for the Speculation phase, as this is usually done in a later phase.)

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is Value Management in Facilities Management?

A method of achieving the lowest cost of procurement for facilities management services

A systematic and structured approach to optimize the value of facilities management services

A way of managing facilities management staff to increase productivity

A process for reducing the quality of facilities management services

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What is the primary objective of the Facilities Management team in this case study?

a) To complete the renovation project within budget

b) To complete the renovation project on time

c) To ensure the project delivers maximum value for the company

d) To minimize the scope of the project

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Which Value Management technique could be used in this case study to generate ideas for improving value?

a) Risk analysis

b) Procurement strategy

c) Cost estimation

d) Brainstorming

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is NOT a step in the Function Analysis phase of the VM job plan in Facilities Management?

Identify the primary functions required for the project

Develop alternative solutions for each function

Evaluate the costs of each function

Analyze the benefits and drawbacks of each function

Answer explanation

Evaluating the costs of each function is usually done in a later phase of the VM job plan.

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