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SAVE International Value Methodology Associate Sample Questions:

1. The Development Phase involves which of the following steps?

A) Model the cost of ideas
B) Determine verb-noun combinations for ideas
C) Prioritize ideas
D) Assign ideas to VM study team members

2. Identify which are key data used to transform information for a product value study:

A) Customer demographics, overhead cost, drawings, competitive analysis, sample components, labor reports
B) Flow diagrams, latest cost estimate, labor reports, drawings, site plan, regulatory requirements
C) Customer requirements, overhead cost, competitive analysis, sample components, packaging requirements, warranty information
D) Design objectives, original cost estimate, drawings, specifications, resource models, customer demographics

3. The unique aspect of the value methodology is its application to anything that:

A) performs a function.
B) includes an activity.
C) is goal-oriented.
D) is a subject of study.

4. In SWOT analysis:

A) Strengths and opportunities are internal attributes.
B) Strengths and weaknesses are helpful attributes.
C) Threats and strengths are harmful attributes.
D) Opportunities and threats are external attributes.

5. Risks associated with a project, product, or process typically impact:

A) Resources, regulations, or time
B) Time, function, or attributes
C) Schedule, cost, or performance
D) Cost, requirements, or results

Solutions: