SAVE International Certified Value Specialist Sample Questions:

1. Which of the following actions would be appropriate to effectively report lessons learned for a VM program?
Choose 2 answers.

A) Schedule a meeting with the team to discuss the lessons learned and how they can be applied in future projects.
B) Create a summarized report of lessons learned and share it with the project team.
C) Store the lessons learned report in a digital folder without any further distribution.
D) Ignore the lessons learned discussion since the last project was successful.

2. Unwanted functions
Choose 3 answers.

A) increase costs.
B) are used with Value Index to identify opportunities.
C) are the byproduct of the way another function is performed.
D) degrade performance.
E) are the focus for problem-solving.

3. When a higher discount rate is used to calculate life cycle costs, which change occurs to the value of money over time?

A) The life cycle cost is increased.
B) The life cycle cost is reduced.
C) There is no change.
D) The discount rate is not needed.

4. Which of the following are reasons why the VM facilitator and VM study team members should participate in the Implementation Meeting?
Choose 3 answers

A) To respond to technical questions about the VM proposals
B) To address alternative VM proposals
C) To answer questions about the cost impact
D) To address the level of effort required for implementation
E) To present the VM proposals

5. Which of the following is the most commonly used technique to identify functions?

A) Random Function Identification
B) Mind Mapping
C) Random Words
D) FAST

Solutions: