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SAVE International Value Methodology Associate Sample Questions:

1. The Development Phase involves which of the following steps?

A) Assign ideas to VM study team members
B) Determine verb-noun combinations for ideas
C) Model the cost of ideas
D) Prioritize ideas

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

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

3. In which phases of the VM Job Plan does the VM study team use convergent thinking?

A) Function Analysis, Creativity, Evaluation
B) Creativity, Evaluation, Development
C) Information, Function Analysis, Creativity
D) Evaluation, Development, Presentation

4. Risks associated with a project, product, or process typically impact:

A) Time, function, or attributes
B) Schedule, cost, or performance
C) Cost, requirements, or results
D) Resources, regulations, or time

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

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

Solutions: