Pass the SAVE International Value Methodology VMA Questions and answers with CertsForce

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Questions # 1:

In which phases of the VM Job Plan does the VM study team use convergent thinking?

Options:

A.

Creativity, Evaluation, Development


B.

Information, Function Analysis, Creativity


C.

Evaluation, Development, Presentation


D.

Function Analysis, Creativity, Evaluation


Expert Solution
Questions # 2:

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

Options:

A.

Flow diagrams, latest cost estimate, labor reports, drawings, site plan, regulatory requirements


B.

Customer requirements, overhead cost, competitive analysis, sample components, packaging requirements, warranty information


C.

Design objectives, original cost estimate, drawings, specifications, resource models, customer demographics


D.

Customer demographics, overhead cost, drawings, competitive analysis, sample components, labor reports


Expert Solution
Questions # 3:

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

Options:

A.

Apply the "Principle of Deferred Judgment"


B.

Establish an ambitious goal for the number of ideas


C.

Emphasize cost savings


D.

Encourage "Free-Wheeling" of ideas


E.

Emphasize quality rather than quantity


Expert Solution
Questions # 4:

"When" is represented by which of the following letters?

Question # 4

Options:

A.

A


B.

B


C.

C


D.

D


Expert Solution
Questions # 5:

In which costing technique is the time value of money essential?

Options:

A.

Return on Investment


B.

Life Cycle Cost


C.

Simple Payback


D.

Break-even point


Expert Solution
Questions # 6:

Which of the following are tasks during the development of VM proposals? (Choose 3 answers)

Options:

A.

Address technical feasibility


B.

Assess time and schedule impacts


C.

State the disposition of the proposal


D.

Determine costs


E.

Validate the proposal


Expert Solution
Questions # 7:

What function must a pen or pencil perform?

Options:

A.

Write documents


B.

Color surface


C.

Mark surface


D.

Convey message


Expert Solution
Questions # 8:

The Value Methodology is:

Options:

A.

A suggestion program to improve value.


B.

A cost reduction exercise to improve value.


C.

A step-by-step design review to improve value.


D.

An eight-phase process to improve value.


Expert Solution
Questions # 9:

Which phase enables the VM team to select viable ideas?

Options:

A.

Function Analysis


B.

Presentation


C.

Evaluation


D.

Development


Expert Solution
Questions # 10:

Which is the correct order of steps in establishing evaluation criteria?

Options:

A.

Identify context, define criteria, determine importance, determine range/scale


B.

Identify context, define criteria, determine range/scale, determine importance


C.

Define criteria, identify context, determine range/scale, determine importance


D.

Define criteria, identify context, determine importance, determine range/scale


Expert Solution
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