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SAVE International Value Methodology Associate Sample Questions (Q27-Q32):

NEW QUESTION # 27
Which of the following is most relevant to the Evaluation Phase?

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

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 # 28
Which are the three main characteristics of the Value Methodology?

A. Systematic process, function analysis, CVS
B. Systematic process, multidisciplinary team, qualified VM facilitator
C. Multidisciplinary team, cost reduction, function improvement
D. Function Analysis, brainstorming, teamwork

Answer: B

Explanation:
Value Methodology (VM) is defined by SAVE International in its Value Methodology Standard as "a systematic process that uses a structured Job Plan to improve the value of projects, products, or processes by analyzing their functions and identifying opportunities to achieve required functions at the lowest total cost without compromising quality or performance" (as noted in Question 23). The VMF 1 course (Core Competency #1: Value Methodology Overview) highlights three main characteristics that define VM:
* Systematic process: VM follows a methodical, step-by-step approach (the VM Job Plan) to ensure consistency and effectiveness.
* Multidisciplinary team: VM studies are conducted by a diverse team with varied expertise to bring different perspectives (as emphasized in Question 24).
* Qualified VM facilitator: A facilitator trained in VM (often, but not always, a Certified Value Specialist) ensures the process is applied correctly and the team achieves optimal results.
While a Certified Value Specialist (CVS) is often involved, the broader characteristic is a qualified VM facilitator, as not all studies require a CVS (as noted in Question 4).
* Option A (Systematic process, function analysis, CVS) is incorrect because, while systematic process and function analysis are key, a CVS is not a defining characteristic; a qualified facilitator is more broadly applicable.
* Option B (Function Analysis, brainstorming, teamwork) is incorrect because these are components or activities within VM, not the main characteristics that define the methodology.
* Option C (Systematic process, multidisciplinary team, qualified VM facilitator) is correct, as it captures the three core characteristics of VM per SAVE International's standards.
* Option D (Multidisciplinary team, cost reduction, function improvement) is incorrect because cost reduction and function improvement are outcomes of VM, not defining characteristics; the systematic process and facilitation are more fundamental.
:
SAVE International, "Value Methodology Standard and Body of Knowledge," available athttps://www.value- eng.org, defining VM as a systematic process with a multidisciplinary team and facilitated approach.
SAVE International, VMF 1 Core Competency #1 (Value Methodology Overview), emphasizing the systematic, team-based, and facilitated nature of VM (consistent with Questions 23 and 24).

NEW QUESTION # 29
What is a function of a teacup?

A. Allow drinking
B. Contain tea
C. Contain liquid
D. Provide container

Answer: C

Explanation:
Function Analysis in Value Methodology involves identifying and classifying functions using verb-noun combinations, as taught in the VMF 1 course (Core Competency #2). The basic function of an item is its primary purpose-what it must do to fulfill its intended use, defined in broad, measurable terms. According to SAVE International's Value Methodology Standard, "functions should be expressed at a level that captures the core purpose of the item, avoiding overly specific or secondary actions." For a teacup, the basic function is the most fundamental action it performs. A teacup's primary purpose is tocontain liquid, as this captures the essential role of holding a liquid (e.g., tea, water, or any beverage), which applies to all teacups regardless of the specific liquid or use.
* Option A (Provide container) is incorrect because "provide container" is not a standard verb-noun function format and is too vague; the teacup itself is the container, and the function is what it does (contain liquid).
* Option B (Allow drinking) is incorrect because allowing drinking is a secondary function or outcome; the teacup must first contain liquid before drinking can occur, and not all uses involve drinking (e.g., holding liquid for soaking).
* Option C (Contain tea) is incorrect because, while a teacup often contains tea, this is too specific; a teacup can hold other liquids (e.g., coffee, water), so the basic function is broader.
* Option D (Contain liquid) is correct, as it defines the basic function of a teacup in the most fundamental terms, encompassing all potential uses, similar to how a pen's function was defined as "mark surface" in Question 38.
:
SAVE International, VMF 1 Core Competency #2 (Function Analysis), which includes defining basic functions using verb-noun combinations.
SAVE International, "Value Methodology Standard," section on Function Analysis, emphasizing the identification of basic functions as the core purpose of an item (consistent with Question 38).

NEW QUESTION # 30
"When" is represented by which of the following letters?

A. C
B. A
C. B
D. D

Answer: B

Explanation:
The diagram provided is a Function Analysis System Technique (FAST) diagram, a key tool in Value Methodology's Function Analysis phase, as taught in the VMF 1 course (Core Competency #2). FAST diagrams map the relationships between functions of a system, with specific directions indicating the logic of the functions:
* The horizontal axis represents the "how-why" logic (critical path), where moving left answers "why" and moving right answers "how."
* The vertical axis represents the "when" direction, indicating functions that occur simultaneously or continuously while the critical path functions are performed (e.g., all-the-time functions, as noted in Question 27).
According to SAVE International's Value Methodology Standard, "in a FAST diagram, the 'when' direction is shown by vertical relationships, indicating functions that are concurrent or supporting the critical path." In the diagram:
* The critical path (horizontal, marked by Y in Question 3) runs from E to F to G to J to L to M to N to O.
* Scope lines are labeled B (left) and D (right), as identified in Question 30.
* Vertical arrows (e.g., Z in Question 3, pointing to J-K) indicate the "when" direction, showing functions that occur simultaneously with the critical path functions.
* Ais a horizontal line at the bottom of the diagram, but in FAST diagramming, the vertical axis (and its bounding lines) is associated with the "when" direction. The options (A, B, C, D) include A as the bottom horizontal line, which, in some FAST diagram interpretations, can be seen as marking the boundary of the "when" direction (vertical relationships).
* C(noted in Question 30) is an arrow pointing left, representing the "why" direction, not "when." Given the options,Ais the closest representation of the "when" direction, as it aligns with the vertical axis's boundary, which defines the space where "when" relationships (simultaneous functions) are shown. In standard FAST diagramming, the "when" direction is vertical, and A, as the bottom horizontal line, frames the vertical space where these relationships are depicted (e.g., S, T, U, K).
* Option A (A) is correct, as it represents the boundary of the vertical axis, which is associated with the
"when" direction in FAST diagrams.
* Option B (B) is incorrect because B is a scope line (left vertical), which defines the study's boundary, not the "when" direction.
* Option C (C) is incorrect because C is an arrow indicating the "why" direction (left), not "when."
* Option D (D) is incorrect because D is the right scope line, not related to the "when" direction.
:
SAVE International, VMF 1 Core Competency #2 (Function Analysis), defining the "when" direction in FAST diagrams as vertical, indicating simultaneous functions.
SAVE International, "Value Methodology Standard," section on Function Analysis, describing FAST diagramming conventions, including the "when" direction as vertical relationships.

NEW QUESTION # 31
The Pareto Principle as applied in the Value Methodology means:

A. 80% of the whole includes 20% of the resources
B. 80% of functions represent 20% of components
C. 20% of elements represent 80% of the cost
D. 20% of risks impact 80% of elements

Answer: C

Explanation:
The Pareto Principle, often referred to as the 80/20 rule, is a concept used in Value Methodology to focus efforts on the most impactful areas during cost analysis. In the context of VM, as taught in the VMF 1 course (Core Competency #4: Cost Analysis), the Pareto Principle is applied to identify high-cost areas that offer the greatest potential for value improvement. According to SAVE International's Value Methodology Standard,
"the Pareto Principle in VM states that approximately 20% of the elements (components, functions, or items) typically account for 80% of the total cost." This allows the VM team to prioritize their efforts on the small number of elements that drive the majority of the cost, thereby maximizing value improvement (function
/cost). For example, in a project, a few components (like a specialized motor in a machine) might represent the bulk of the cost, and optimizing those components can yield significant savings.
* Option A (20% of risks impact 80% of elements) is incorrect because the Pareto Principle in VM focuses on cost distribution, not risk impact.
* Option B (20% of elements represent 80% of the cost) is correct, as it directly aligns with the application of the Pareto Principle in VM cost analysis.
* Option C (80% of functions represent 20% of components) is incorrect because it reverses the principle and does not reflect the cost-focused application in VM.
* Option D (80% of the whole includes 20% of the resources) is incorrect because it misapplies the principle and is too vague for VM's specific use of Pareto in cost analysis.
:
SAVE International, "Value Methodology Standard and Body of Knowledge," available athttps://www.value- eng.org, section on cost analysis, referencing the Pareto Principle for identifying high-cost elements.
SAVE International, VMF 1 Core Competency #4 (Cost Analysis), emphasizing the use of the Pareto Principle to focus on high-cost areas.

NEW QUESTION # 32
......

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