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SAVE International Value Methodology Associate Sample Questions:

1. When transforming the VM study subject's cost information, the potential for achieving major savings is:

A) Greatest during the early phases of the project lifecycle
B) Increased when the VM proposals improve performance
C) Improved when costs are aligned with scope increases
D) Enhanced when outputs are included in calculations

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

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

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

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

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

A) An analysis of a completed project design by a VM team
B) A workshop that applies the VM facilitated by a CVS
C) An improvement process similar to Lean Six Sigma
D) A structured effort by a multidisciplinary team using the VM

5. Which function is located to the left of the left vertical line in a FAST diagram?

A) Lower Order Function
B) Secondary Function
C) Basic Function
D) Higher Order Function

Solutions: