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SAVE International Value Methodology Associate Sample Questions:

1. Which type of value is the sum of labor, material, and other resources required to produce the subject?

A) Exchange Value
B) Use Value
C) Cost Value
D) Esteem Value

2. If an organization invests $160,000 in a new software system that improves analysis and reduces annual costs by $3,000 per year, the payback period would be approximately:

A) 53 years
B) 56 years
C) 50 years
D) 45 years

3. The Value Methodology is:

A) A step-by-step design review to improve value.
B) An eight-phase process to improve value.
C) A cost reduction exercise to improve value.
D) A suggestion program to improve value.

4. 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 subject's purpose and the objectives of the VM study.
C) value improvement ideas and performance attributes.
D) the Pareto chart, risk data, and quality expectations.

5. How many phases are in the VM Job Plan?

A) 3
B) 6
C) 7
D) 8

Solutions: