CVS Ethics and Continuous Improvement 5

Question 1

A CVS leading a study for a public agency discovers the agency's estimate contains a major arithmetic error that undermines the project's justification. The CVS should:

Accepted Answer

Report the error promptly and objectively to the client

Answer

Ignore it because estimating is not the CVS's responsibility

Answer

Quietly correct it without telling anyone

Answer

Use the error as leverage for a larger contract

Question 2

Which of the following best describes the relationship between value methodology and continuous improvement philosophies like Kaizen?

Accepted Answer

They are complementary; value studies deliver step improvements while Kaizen sustains incremental gains

Answer

They are mutually exclusive approaches that cannot coexist

Answer

Kaizen replaces the need for function analysis

Answer

Value methodology forbids incremental improvement

Question 3

A CVS's final report will be used in litigation. To act ethically, the CVS should ensure the report:

Accepted Answer

Contains only objective findings the CVS can professionally support

Answer

Is worded to favor whichever party pays more

Answer

Omits any data that weakens the client's legal position

Answer

Includes speculative claims to strengthen the case

Question 4

An organization wants to improve idea implementation after value workshops. Which change most directly addresses this?

Accepted Answer

Assigning owners and deadlines to each accepted alternative with follow-up reviews

Answer

Generating more ideas in the creativity phase

Answer

Shortening the presentation phase to save time

Answer

Keeping workshop results confidential from management

Question 5

A CVS mentoring an Associate Value Specialist (AVS) should ethically:

Accepted Answer

Support the mentee's professional development and model ethical practice

Answer

Assign the mentee work and bill it as CVS-level effort without disclosure

Answer

Withhold knowledge to limit future competition

Answer

Let the mentee sign reports the CVS never reviewed

Question 6

A repeat client requests that the same facilitator reuse last year's workshop outputs to cut costs, without conducting new analysis on a substantially changed project. The CVS should:

Accepted Answer

Explain that the changed scope requires fresh analysis for valid conclusions

Answer

Reuse the outputs and change the date on the report

Answer

Reuse the outputs but charge for a full new study

Answer

Decline all future work from the client

Question 7

What is the primary reason a CVS should stay current with evolving value methodology standards and techniques?

Accepted Answer

Maintaining competence is both an ethical duty and essential to delivering effective studies

Answer

Older techniques are legally banned from use

Answer

Clients only ever ask about the newest tools

Answer

Recertification is the only reason to keep learning