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SAVE International Value Methodology Associate Sample Questions:

1. The VM is defined by SAVE International as a:

A) Structured process
B) Sequential process
C) Specialized process
D) Systematic process

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

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

3. Which of the following defines the nominal rate of increase in the value of money over time, after subtracting for inflation?

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

4. Ground rules that support creative brainstorming include:

A) Focusing on prioritized functions, deferring judgment, and improving ideas.
B) Encouraging openness to ideas, freewheeling, and recording good ideas.
C) Requesting idea clarification, discussing cost impacts, and considering performance.
D) Focusing on quality ideas, discussing their merits, and maintaining momentum.

5. In which phase is a large quantity of ideas or alternatives generated to accomplish the functions?

A) Presentation Phase
B) Evaluation Phase
C) Function Analysis Phase
D) Creativity Phase

Solutions: