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SAVE International Value Methodology Associate Sample Questions (Q39-Q44):

NEW QUESTION # 39
During the life cycle of a project or product, the greatest possibility to influence impacts and costs takes place during:

A. Organizing
B. Operating
C. Planning
D. Maintaining

Answer: C

Explanation:
Value Methodology emphasizes applying VM early in a project or product lifecycle to maximize its impact on costs and outcomes, as taught in the VMF 1 course (Core Competency #1: Value Methodology Overview).
According to SAVE International's Value Methodology Standard, "the greatest opportunity to influence a project's impacts and costs occurs during the planning phase, when decisions about design, scope, and requirements are made." Early intervention allows the VM team to optimize functions and reduce costs before they are locked in by detailed design or implementation. This principle is often illustrated by the "cost influence curve," which shows that the ability to influence costs decreases as the project progresses, while the cost to make changes increases.
* Option A (Operating) is incorrect because, during operation, most costs are already incurred, and changes are costly and limited in impact.
* Option B (Planning) is correct, as it is the phase where VM can most effectively influence design and cost decisions, per VM standards.
* Option C (Organizing) is incorrect because organizing is a management function, not a distinct lifecycle phase for applying VM.
* Option D (Maintaining) is incorrect because maintenance occurs late in the lifecycle, when cost influence is minimal.
:
SAVE International, "Value Methodology Standard and Body of Knowledge," available athttps://www.value- eng.org, emphasizing early application of VM in the planning phase.
SAVE International, VMF 1 Core Competency #1 (Value Methodology Overview), highlighting the cost influence curve and the importance of early VM intervention.

NEW QUESTION # 40
Which of the following best describes a VM study?

A. A structured effort by a multidisciplinary team using the VM
B. An analysis of a completed project design by a VM team
C. An improvement process similar to Lean Six Sigma
D. A workshop that applies the VM facilitated by a CVS

Answer: A

Explanation:
A Value Methodology (VM) study is a core concept in the VMF 1 course (Core Competency #1: Value Methodology Overview). According to SAVE International's Value Methodology Standard, a VM study is defined as "a structured effort by a multidisciplinary team using the Value Methodology to identify the functions of a project or process, establish a worth for each function, and develop alternatives to achieve those functions at the lowest overall cost while maintaining performance." This definition emphasizes the structured nature of the VM Job Plan, the use of a multidisciplinary team (as noted in Question 24), and the focus on improving value through systematic analysis. This aligns with the description in Question 4, where a VM study was described as a structured effort using the VM process, but here the emphasis on a multidisciplinary team is key.
* Option A (An analysis of a completed project design by a VM team) is incorrect because VM studies are not limited to completed designs; they can be applied at any stage of the project lifecycle, with the greatest impact early on (as noted in Questions 21 and 25).
* Option B (An improvement process similar to Lean Six Sigma) is incorrect because, while VM shares goals with Lean Six Sigma (e.g., improving efficiency), it is a distinct methodology focused on function analysis and value optimization, not process variation reduction.
* Option C (A workshop that applies the VM facilitated by a CVS) is incorrect because, while VM studies are often conducted as workshops and may be facilitated by a Certified Value Specialist (CVS), a CVS is not required (as clarified in Question 4), and "workshop" is too narrow a description for a VM study.
* Option D (A structured effort by a multidisciplinary team using the VM) is correct, as it best captures the essence of a VM study per SAVE International's definition, emphasizing the structured process and multidisciplinary team.
:
SAVE International, "Value Methodology Standard and Body of Knowledge," available athttps://www.value- eng.org, defining a VM study as a structured effort by a multidisciplinary team.
SAVE International, VMF 1 Core Competency #1 (Value Methodology Overview), emphasizing the structured, team-based nature of VM studies (consistent with Question 4).

NEW QUESTION # 41
Which of the following is most relevant to the Evaluation Phase?

A. Return on Investment
B. Cost Model
C. Weighting
D. Constraints

Answer: C

Explanation:
The Evaluation Phase of the Value Methodology (VM) Job Plan, as outlined in the VMF 1 course and SAVE International's Value Methodology Standard, involves assessing ideas generated during the Creative Phase to select the most viable ones for further development. According to VMF 1 Core Competency #7 (Evaluation and Selection of Alternatives), the Evaluation Phase focuses on "evaluating ideas based on criteria such as cost, performance, feasibility, and alignment with project goals, often using tools like weighted evaluation matrices."Weightingrefers to assigning weights to evaluation criteria (e.g., cost savings, quality, risk) to prioritize ideas systematically, making it the most relevant to this phase.
* Option A (Return on Investment) is incorrect because ROI is a financial metric typically calculated during the Development Phase when modeling the cost and benefits of selected ideas, not during Evaluation.
* Option B (Cost Model) is incorrect because cost models are developed in the Development Phase to detail the financial impact of selected ideas, though rough cost estimates may be considered in Evaluation.
* Option C (Weighting) is correct, as weighting criteria in tools like a weighted evaluation matrix is a key activity in the Evaluation Phase to rank and select ideas.
* Option D (Constraints) is incorrect because identifying constraints occurs primarily in the Information Phase, though they may be considered during Evaluation as part of feasibility analysis.
:
SAVE International, "Value Methodology Standard and Body of Knowledge," available athttps://www.value- eng.org, detailing the Evaluation Phase and the use of weighted evaluation matrices.
SAVE International, VMF 1 Core Competency #7 (Evaluation and Selection of Alternatives), emphasizing weighting criteria for idea selection.

NEW QUESTION # 42
Which function represents the specific goals or needs for which the subject scope exists?

A. Secondary
B. Basic
C. Higher Order
D. Lower Order

Answer: C

Explanation:
In Value Methodology's Function Analysis, functions are classified based on their role in the system, as taught in the VMF 1 course (Core Competency #2). According to SAVE International's Value Methodology Standard, thehigher-order function"represents the specific goals or needs for which the subject scope exists-it answers 'why' the system or project is needed." In a FAST diagram, the higher-order function is located to the left of the basic function, just inside the left scope line, as seen in Question 18 (Function E). It defines the overarching objective or customer need that justifies the existence of the system (e.g., for a car, the higher-order function might be "provide mobility," while the basic function is "transport passengers").
* Option A (Basic) is incorrect because the basic function is the primary purpose of the system within the scope (e.g., "transport passengers"), not the overarching goal.
* Option B (Lower Order) is incorrect because "lower-order" is not a standard term in VM; it may refer to functions to the right of the basic function, which are more specific, not goal-oriented.
* Option C (Higher Order) is correct, as it represents the specific goals or needs for which the subject scope exists, per VM standards.
* Option D (Secondary) is incorrect because secondary functions support the basic function and do not represent the overarching goals.
:
SAVE International, VMF 1 Core Competency #2 (Function Analysis), defining higher-order functions as the goals or needs of the system.
SAVE International, "Value Methodology Standard," section on Function Analysis, describing the role of higher-order functions in FAST diagrams.

NEW QUESTION # 43
In which phase does one work to obtain a thorough understanding of the subject of the VM study?

A. Information Phase
B. Creativity Phase
C. Presentation Phase
D. Evaluation Phase

Answer: A

Explanation:
The Value Methodology (VM) Job Plan, as outlined in the VMF 1 course and SAVE International's Value Methodology Standard, consists of six phases, starting with the Information Phase. According to VMF 1 Core Competency #3 (Value Methodology Job Plan), the Information Phase is where the VM team works to
"obtain a thorough understanding of the subject of the study by gathering and analyzing data on project scope, costs, constraints, objectives, and stakeholder needs." This phase involves collecting all relevant information-such as drawings, specifications, cost data, and performance requirements-to establish a baseline for the study, ensuring the team fully understands the project before proceeding to function analysis.
* Option A (Information Phase) is correct, as it is explicitly defined as the phase for gaining a thorough understanding of the VM study's subject.
* Option B (Creativity Phase) is incorrect because this phase focuses on generating ideas, not gathering information.
* Option C (Evaluation Phase) is incorrect because this phase involves assessing ideas, which occurs after the subject is already understood.
* Option D (Presentation Phase) is incorrect because this phase involves communicating recommendations, not studying the subject.
:
SAVE International, "Value Methodology Standard and Body of Knowledge," available athttps://www.value- eng.org, detailing the Information Phase in the VM Job Plan.
SAVE International, VMF 1 Core Competency #3 (Value Methodology Job Plan), emphasizing the role of the Information Phase in understanding the study subject.

NEW QUESTION # 44
......

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VMA Examinations Actual Questions, Valid VMA Test Discount

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SAVE International Value Methodology Associate Sample Questions (Q39-Q44):

VMA Examinations Actual Questions & Useful Tips to help you pass SAVE International VMA: Value Methodology Associate

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