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SAVE International Value Methodology Associate Sample Questions:

1. 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) 80% of the whole includes 20% of the resources
D) 20% of risks impact 80% of elements

2. The primary objective of the Information phase is to:

A) Create a cost model
B) Transform information
C) Obtain the voice of the customer
D) Understand the subject

3. All-the-time functions are:

A) Undesirable
B) Continuous
C) A drain on resources
D) Outside the study scope

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

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

5. Which of the following is the risk response strategy for opportunities that seek to increase the probability of an opportunity occurring and/or the magnitude of results being beneficial?

A) Exploit
B) Mitigate
C) Enhance
D) Share

Solutions: