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SAVE International Certified Value Specialist Sample Questions:

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

2. The main objective of the Information Phase is to

A) enlist additional VM team members.
B) begin to determine alternative solutions.
C) develop a VM Study Team Information Workbook.
D) review and understand the available project information.

3. There is resistance to a new VM program in an organization. What should a VM program coordinator focus on to increase acceptance of VM?

A) Identify a few subjects that would benefit from change and recommend a VM study through dialogue with staff.
B) Explain the difference between VM and other value-improving programs (TRIZ, Lean 6-Sigma, etc.)
C) Highlight that there are many areas with deficiencies that will be improved by VM.
D) Prepare a memo for the CEO to sign that requires staff to incorporate VM in all departments.

4. Place the process for building a work breakdown structure in the correct order:

5. Which of the following assists the VM Facilitator in creating a collaborative client relationship?
Choose 3 answers.

A) Diagnosing client needs and creating appropriate VM Job Plan elements to achieve intended outcomes
B) Clarifying mutual involvement
C) Focusing on structure
D) Dictating tasks, deliverables, roles, and responsibilities
E) Analyzing organizational involvement

Solutions: