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SAVE International Value Methodology Associate Sample Questions:

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

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

2. The original VM Job Plan was based on a problem-solving approach. Which is the correct order of the four steps comprising this approach?

A) Hypothesis, Observation, Experimentation, Conclusion
B) Observation, Hypothesis, Experimentation, Conclusion
C) Observation, Experimentation, Hypothesis, Conclusion
D) Hypothesis, Experimentation, Observation, Conclusion

3. In which phase does one work to obtain a thorough understanding of the subject of the VM study?

A) Presentation Phase
B) Evaluation Phase
C) Information Phase
D) Creativity Phase

4. Which phase enables the VM team to select viable ideas?

A) Development
B) Function Analysis
C) Presentation
D) Evaluation

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

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

Solutions: