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SAVE International Value Methodology Associate Sample Questions:

1. When transforming the VM study subject's cost information, the potential for achieving major savings is:

A) Greatest during the early phases of the project lifecycle
B) Enhanced when outputs are included in calculations
C) Increased when the VM proposals improve performance
D) Improved when costs are aligned with scope increases

2. What is the objective of the Creativity Phase?

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

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

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

4. Which of the following is the risk response strategy for opportunities that seek to increase the probability of an opportunity occurring and/or the magnitude of results being beneficial?

A) Mitigate
B) Enhance
C) Share
D) Exploit

5. The best study results will usually come from applying the value methodology with:

A) An executive-level task force
B) A team working in similar disciplines
C) A multidisciplinary team with a selected set of skills
D) The current project team

Solutions: