CCE CCE Value Engineering & Analysis 2

Question 1

Which VE Job Plan phase involves comparing alternatives against criteria to select the best candidates?

Accepted Answer

Evaluation phase

Answer

Information phase

Answer

Creative phase

Answer

Development phase

Question 2

In Value Engineering, an 'unnecessary function' is one that:

Accepted Answer

Increases cost without adding required performance or reliability

Answer

Reduces the project schedule

Answer

Is required by regulatory standards

Answer

Improves the aesthetic appeal of the product

Question 3

A VE team identifies that a component costs $500 but its worth is $200. What is the value index?

Accepted Answer

0.40

Answer

2.50

Answer

300

Answer

0.60

Question 4

Which of the following best describes 'life-cycle cost' in Value Engineering?

Accepted Answer

Total cost of ownership including acquisition, operation, maintenance, and disposal

Answer

Only the initial construction or acquisition cost

Answer

The cost of replacing a system at end of life

Answer

Annual operating budget for a facility

Question 5

What is the typical recommended duration for a formal VE workshop (charrette) on a major capital project?

Accepted Answer

40 hours (5 days)

Answer

1 day

Answer

2–3 days

Answer

2 weeks

Question 6

Which phase of the VE Job Plan involves preparing detailed cost estimates and implementing plans for selected alternatives?

Accepted Answer

Development phase

Answer

Creative phase

Answer

Information phase

Answer

Presentation phase