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SAVE International Value Methodology Associate Sample Questions:

1. Which of the following techniques involves capturing input from multiple customers and stakeholders at the same time?

A) Surveys
B) Interviews
C) Questionnaires
D) Focus panels

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

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

3. 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) Design objectives, original cost estimate, drawings, specifications, resource models, customer demographics
C) Customer demographics, overhead cost, drawings, competitive analysis, sample components, labor reports
D) Customer requirements, overhead cost, competitive analysis, sample components, packaging requirements, warranty information

4. An effective Information Phase kickoff meeting:

A) Discusses the challenges of the proposed VM study approach.
B) Outlines goals for the study subject and VM study objectives.
C) Describes how functions have normally been accomplished.
D) Indicates the VM solutions desired by decision makers.

5. Which of the following defines the effects of time, value, and money, converting all costs to a common reference point in today's dollars?

A) Return on Investment (ROI)
B) Simple Payback (or Breakeven Point)
C) Discount Rate
D) Present Worth (or Net Present Value)

Solutions: