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1. Which of the following are typically included in a VM study report?
Choose 3 answers.
A) VM presentation developed during the Presentation Phase
B) Design plans and specifications
C) Workshop agenda and list of VM team members
D) Summary of the VM Job Plan
E) List of all the ideas generated and their evaluation
2. The VM study sponsor wants to limit the amount of time some of the VM team members participate. In which phases might the VM facilitator recommend these VM team members fully participate?
Choose 2 answers.
A) Presentation phase
B) Implementation phase
C) Creativity phase
D) Function analysis phase
3. Which statement best describes a FAST diagram?
A) A cost spreadsheet used to calculate inflation
B) A schedule network used to calculate project float
C) A procurement chart showing supplier lead times
D) A graphical model showing dependent relationships among functions
4. Which of the following are fine filter actions a VM study team can take to evaluate ideas?
Choose 2 answers.
A) Rank the ideas based on estimated costs.
B) Align each idea with the subject study goals.
C) Gather team feedback on all ideas without discussion.
D) Conduct a SWOT analysis for each idea.
5. A VM Facilitator has been asked to propose ways to reduce the value study time commitment of client VM team members who have specialized knowledge required for the study. What should the VM Facilitator propose to best reduce the time commitments of the specialists?
A) Suggest VM team members with specialized knowledge participate in the Function Analysis Phase because it leads to creativity.
B) Suggest that VM team members with specialized knowledge participate in the Development Phase to ensure reasonable value proposals.
C) Recommend VM members with specialized knowledge participate in the Creativity Phase to ensure the team understands their perspectives.
D) Recommend that all team members follow all the VM job plan phases to achieve value improvement.
Solutions:
| Question # 1 Answer: C,D,E | Question # 2 Answer: C,D | Question # 3 Answer: D | Question # 4 Answer: B,D | Question # 5 Answer: D |
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