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SAVE International Value Methodology Associate Sample Questions:

1. 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) Greatest during the early phases of the project lifecycle
C) Increased when the VM proposals improve performance
D) Enhanced when outputs are included in calculations

2. How many phases are in the VM Job Plan?

A) 8
B) 3
C) 7
D) 6

3. Which type of value is the sum of labor, material, and other resources required to produce the subject?

A) Esteem Value
B) Cost Value
C) Use Value
D) Exchange Value

4. The Value Methodology is:

A) An eight-phase process to improve value.
B) A suggestion program to improve value.
C) A step-by-step design review to improve value.
D) A cost reduction exercise to improve value.

5. An unwanted function of a hammer would be:

A) Transmit vibration
B) Apply force
C) Swing arm
D) Deliver force

Solutions: