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SAVE International Value Methodology Associate Sample Questions:

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

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

2. When transforming subject scope information, it is most important that the VM study team have a clear understanding of:

A) the interests and influence of customers, users, and stakeholders.
B) the Pareto chart, risk data, and quality expectations.
C) the subject's purpose and the objectives of the VM study.
D) value improvement ideas and performance attributes.

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

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

4. The unique aspect of the value methodology is its application to anything that:

A) is a subject of study.
B) includes an activity.
C) is goal-oriented.
D) performs a function.

5. 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 multidisciplinary team with a selected set of skills
D) A team working in similar disciplines

Solutions: