Certified Professional Public Buyer (CPPB) Practice Test

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What is the focus of value analysis?

To assess competitor prices
To analyze product lifecycle
To analyze the functions of a product or service
To improve supplier performance

The correct answer is: To analyze the functions of a product or service

The focus of value analysis is centered on examining the functions of a product or service with the aim of enhancing value. This involves breaking down a product into its individual functions and assessing whether each function is necessary and if it can be achieved at a lower cost without sacrificing quality. By focusing on the functions, organizations can identify opportunities to reduce costs, improve performance, and enhance overall value for money. In contrast, assessing competitor prices or analyzing product lifecycle involves different aspects of market analysis rather than directly improving functions. Improving supplier performance is also a valid concern but is more about the relationship and efficiency with suppliers, not specifically about evaluating the functions of products or services. Each of these alternatives addresses a different facet of the procurement and operational strategy, whereas value analysis is distinctly focused on function optimization for improved value.