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SAVE International Value Methodology Associate Sample Questions:

1. The best study results will usually come from applying the value methodology with:

A) The current project team
B) An executive-level task force
C) A team working in similar disciplines
D) A multidisciplinary team with a selected set of skills

2. Which are the three main characteristics of the Value Methodology?

A) Multidisciplinary team, cost reduction, function improvement
B) Systematic process, function analysis, CVS
C) Systematic process, multidisciplinary team, qualified VM facilitator
D) Function Analysis, brainstorming, teamwork

3. The primary objective of the Information phase is to:

A) Transform information
B) Understand the subject
C) Create a cost model
D) Obtain the voice of the customer

4. Which of the following best describes a VM study?

A) Is undertaken after the design is completed
B) Must be led by a Certified Value Specialist
C) It is a structured effort using the VM process to improve value
D) Is considered a business improvement best practice

5. Which type of value is the sum of labor, material, and other resources required to produce the subject?

A) Esteem Value
B) Use Value
C) Cost Value
D) Exchange Value

Solutions: