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SAVE International Value Methodology Associate Sample Questions:

1. Which of the following are ground rules of the Creativity Phase? (Choose 3 answers)

A) Encourage "Free-Wheeling" of ideas
B) Establish an ambitious goal for the number of ideas
C) Emphasize cost savings
D) Apply the "Principle of Deferred Judgment"
E) Emphasize quality rather than quantity

2. What is the objective of the Creativity Phase?

A) Select improvement ideas
B) Generate improvement ideas
C) Prioritize improvement ideas
D) Develop improvement ideas

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

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

4. The Pareto Principle as applied in the Value Methodology means:

A) 20% of elements represent 80% of the cost
B) 20% of risks impact 80% of elements
C) 80% of functions represent 20% of components
D) 80% of the whole includes 20% of the resources

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

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

Solutions: