CCE CCE Value Engineering & Analysis

Question 1

What is the primary objective of Value Engineering (VE) in a cost engineering context?

Accepted Answer

Achieve required functions at the lowest life-cycle cost

Answer

Increase project scope

Answer

Reduce project schedule duration

Answer

Maximize the number of design alternatives

Question 2

In the SAVE International VE Job Plan, which phase involves generating creative ideas without criticism?

Accepted Answer

Creative phase

Answer

Function Analysis phase

Answer

Information phase

Answer

Evaluation phase

Question 3

How is Value defined in Value Engineering?

Accepted Answer

Value = Function / Cost

Answer

Value = Cost / Function

Answer

Value = Performance × Cost

Answer

Value = Quality / Schedule

Question 4

Which Value Engineering technique is used to identify the primary and secondary functions of a system?

Accepted Answer

FAST diagram

Answer

PERT analysis

Answer

Earned Value Analysis

Answer

Monte Carlo simulation

Question 5

During a VE study, a 'basic function' is best described as:

Accepted Answer

The primary purpose that defines why the item exists

Answer

A function that supports other functions

Answer

Any function added by the designer

Answer

A function that only reduces aesthetic value

Question 6

What is 'worth' in the context of Value Engineering?

Accepted Answer

The lowest cost to perform a basic function

Answer

The current market price of a component

Answer

The replacement value of an asset

Answer

The total life-cycle cost of the project