Free CIPS L6M5 Exam Dumps October 2026

Payback period formula:

Investment (50m) Annual inflow (10m) = 5 years. [P.1.4]

A Project Audit (p.141) occurs post-completion to assess:

Financial health

Performance evaluation

Lessons learned

It is not a planning tool (Option B), nor is it for active budget management (A) or solely for senior leadership (C). [P.141]

Redundancy is a strategic tool for cultural change (p.208).

Options A & B relate to cost-cutting and downsizing, not change.

Option D involves expansion, not workforce reduction. [P.208]

Value Engineering (p.100) is used to optimize costs and improve profitability in competitive industries. It leverages supplier relationships to cut costs and increase value. Variance Analysis (A) is for budgeting, and Consortium Procurement (C) relates to bulk purchasing, which is not the issue here. [P.100]

The Iron Triangle consists of scope, cost, and time.

Espoused values are what the company says is important to them. Therefore, the correct answers are B and C. This is taken from Schein's Three Levels of Culture, which you can find on p.155 of the study guide.

Options A, D, and E would be classed as Artefacts, as they express culture in terms of physical attributes.

Domain: 3.1