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SAVE International Value Methodology Associate Sample Questions:

1. Identify which are key data used to transform information for a product value study:

A) Flow diagrams, latest cost estimate, labor reports, drawings, site plan, regulatory requirements
B) Customer demographics, overhead cost, drawings, competitive analysis, sample components, labor reports
C) Design objectives, original cost estimate, drawings, specifications, resource models, customer demographics
D) Customer requirements, overhead cost, competitive analysis, sample components, packaging requirements, warranty information

2. Which of the following is most relevant to the Evaluation Phase?

A) Return on Investment
B) Weighting
C) Cost Model
D) Constraints

3. The Pareto Principle as applied in the Value Methodology means:

A) 20% of elements represent 80% of the cost
B) 80% of functions represent 20% of components
C) 20% of risks impact 80% of elements
D) 80% of the whole includes 20% of the resources

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

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

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

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

Solutions: