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SAVE International Value Methodology Associate Sample Questions:

1. Which phase enables the VM team to select viable ideas?

A) Development
B) Function Analysis
C) Presentation
D) Evaluation

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

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

3. Which is the correct order of steps involved in risk management?

A) Risk Management Planning, Risk Identification, Risk Response Planning, Risk Analysis, Risk Monitoring and Control
B) Risk Management Planning, Risk Analysis, Risk Identification, Risk Response Planning, Risk Monitoring and Control
C) Risk Identification, Risk Management Planning, Risk Analysis, Risk Response Planning, Risk Monitoring and Control
D) Risk Management Planning, Risk Identification, Risk Analysis, Risk Response Planning, Risk Monitoring and Control

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

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

5. "When" is represented by which of the following letters?

A) A
B) B
C) C
D) D

Solutions: