CVS CVS Value Methodology and Job Plan Questions and Answers 2

Question 1

Which VM Job Plan phase immediately precedes the Creative Phase?

Accepted Answer

Information Phase

Answer

Development Phase

Answer

Evaluation Phase

Answer

Presentation Phase

Question 2

The Post-Study Phase of the VM Job Plan is important because it:

Accepted Answer

Tracks implementation of accepted recommendations and measures actual savings

Answer

Replaces the Development Phase for small projects

Answer

Focuses on generating new function alternatives

Answer

Establishes the initial project budget

Question 3

A VM study that skips the Function Analysis step during the Information Phase risks:

Accepted Answer

Solving symptoms rather than root causes of poor value

Answer

Generating too many ideas during brainstorming

Answer

Spending too much time in the Evaluation Phase

Answer

Missing the presentation deadline

Question 4

According to SAVE International standards, how many primary phases does the VM Job Plan contain?

Accepted Answer

6

Answer

3

Answer

5

Answer

8

Question 5

During a VM workshop, the team discovers a function costs significantly more than its worth. This finding is most useful in the:

Accepted Answer

Creative Phase to target high-cost functions for improvement

Answer

Presentation Phase to justify project closure

Answer

Evaluation Phase to assign team tasks

Answer

Post-Study Phase to verify savings

Question 6

What is the role of a value study facilitator during the Information Phase?

Accepted Answer

To ensure all relevant data is collected and the team understands project functions

Answer

To make final decisions on project scope

Answer

To evaluate ideas generated by the team

Answer

To draft implementation contracts