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SAVE International Value Methodology Associate Sample Questions:

1. What is the objective of the Creativity Phase?

A) Generate improvement ideas
B) Prioritize improvement ideas
C) Select improvement ideas
D) Develop improvement ideas

2. All-the-time functions are:

A) Outside the study scope
B) Continuous
C) Undesirable
D) A drain on resources

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

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

4. In which costing technique is the time value of money essential?

A) Return on Investment
B) Life Cycle Cost
C) Break-even point
D) Simple Payback

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

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

Solutions: