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| Section | Weight | Objectives |
|---|---|---|
| Tools and Techniques | 20% | - Cost analysis and worth assessment - Decision-making and evaluation tools - Creative thinking and idea generation methods - Function analysis system technique (FAST) |
| Leadership and Facilitation | 15% | - Stakeholder management and communication - Workshop facilitation skills - Leading value study teams |
| Value Methodology Principles and Concepts | 25% | - Definition and core concepts of Value - Origins, development and application scope of Value Methodology - Value index, function and cost relationship |
| Value Methodology Job Plan | 30% | - Information phase - Presentation and implementation phase - Function analysis phase - Evaluation phase - Creative phase - Preparation phase - Development phase |
| Standards, Ethics and Application | 10% | - SAVE International standards and guidelines - Application in different industries and sectors - Professional ethics and responsibilities |
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NEW QUESTION # 111
A well-managed VM program will include a process
Choose 2 answers.
Answer: A,C
Explanation:
The correct answers are A and C . A well-managed Value Methodology program must have a structured process for deciding which subjects should receive VM studies and when VM should be applied . VM program management is not simply about conducting studies randomly; it requires screening potential projects, products, processes, or services to determine where VM effort can create meaningful value improvement. The VM Guide program-management section specifically includes "Selecting subjects for VM studies" and "Timing of VM studies" as key management areas. ( pdfcoffee.com ) Option A is correct because subject selection helps the organization focus limited VM resources on studies with suitable size, complexity, risk, cost, performance concern, or strategic importance. Option C is correct because timing matters. SAVE guidance notes that VM may be applied at different points in a subject's life cycle, and early application often improves direction before later implementation costs increase. ( ) Option B is incorrect because no VM program can guarantee return on investment from every individual study. Option D is incorrect because requiring a VM study on every subject would waste resources and ignore proper screening criteria.
References/topics: VM Programs; VM Program Management; Selecting VM Study Subjects; Timing of VM Studies; VM Application Criteria.
NEW QUESTION # 112
Which of the following actions should be taken to develop a comprehensive and effective VM study report?
Choose 2 answers.
Answer: A,D
Explanation:
The correct answers are A. List VM proposals developed and C. Focus the report on the major VM proposals .
In the Presentation Phase, the VM study report must document the results of the study in a clear, decision- oriented format. The report should identify the VM proposals developed during the Development Phase, including the recommended change, basis of comparison, cost effect, value improvement, advantages, disadvantages, and implementation considerations. Listing the developed proposals gives decision makers a complete record of the team's actionable outputs.
However, an effective report should not become a raw archive of every discussion, idea, or technical detail. It should focus attention on the major VM proposals that offer meaningful value improvement and require management review or approval. This aligns with the Presentation Phase purpose: to communicate developed alternatives clearly and obtain concurrence for implementation.
Option B is less appropriate because the methodology may be summarized, but an overly detailed methodology section can distract from the proposals and decisions required. Option D is incorrect because technical terminology should be controlled and audience-appropriate; excessive jargon weakens communication.
References/topics: Presentation Phase; VM Study Report; Development Phase; VM Proposals; Decision- Maker Communication.
NEW QUESTION # 113
SWOT stands for
Answer: D
Explanation:
The correct answer is B. strengths, weaknesses, opportunities, and threats . SWOT is a strategic assessment tool used to examine both internal and external conditions affecting an organization, program, project, or study subject. In the SAVE International certification study context, SWOT is identified as a tool under VM program and organizational assessment practices, specifically as Strengths, Weaknesses, Opportunities, and Threats . ( ) The distinction between the four terms is important. Strengths and weaknesses normally describe internal factors, such as organizational capability, resources, skills, process maturity, or limitations. Opportunities and threats normally describe external factors, such as market conditions, stakeholder expectations, regulatory changes, competing priorities, risks, or environmental influences. In a VM program, SWOT can help managers understand where the program is strong, where corrective improvement is needed, where expansion or innovation is possible, and where resistance or risk may affect implementation.
Options A, C, and D are incorrect because "organization," "standards," and "thresholds" are not part of the SWOT acronym. They may be relevant management terms, but they do not define SWOT.
References/topics: VM Programs; Strategic Assessment; SWOT Analysis; Program Planning; Organizational Readiness.
NEW QUESTION # 114
Which of the following are important to the success of the Presentation Phase?
Choose 3 answers.
Answer: C,D,E
Explanation:
The correct answers are A, C, and D because the Presentation Phase is focused on communicating developed VM results in a form that enables decision makers to understand, judge, and act on the team's recommendations. SAVE's Value Methodology Standard describes the Presentation Phase as the point where the team leader develops a report or presentation that "documents and conveys the adequacy" of the developed alternatives and their value improvement opportunity. ( ) Therefore, tailoring the material to the participants is essential. Executives, technical reviewers, owners, cost specialists, and implementation personnel require different levels of detail and emphasis. Timing of the presentation is also critical because VM results should be presented while the study findings are current, decision attention is active, and implementation momentum has not been lost. Level of development of proposal write-ups is equally important because weak or incomplete write-ups reduce credibility and make approval difficult.
Option B is incorrect because the team should not present every idea generated in Creativity; only evaluated and developed alternatives should advance. The Evaluation Phase selects ideas with value potential, and the Development Phase turns selected ideas into documented proposals for decision making. ( ) References/topics: Presentation Phase; Development Phase; VM Proposal Write-Ups; Decision-Maker Communication; VM Results Presentation.
NEW QUESTION # 115
Which of the following are balanced scorecard perspectives?
Choose 2 answers.
Answer: A,D
Explanation:
The correct answers are A. Cost and D. Innovation . In the CVS/Value Methodology program-management context, a balanced scorecard is used to measure organizational or program performance from more than one viewpoint, rather than judging success only by a single financial result. The traditional balanced scorecard framework includes financial, customer, internal process, and innovation/learning perspectives. Kaplan and Norton's original balanced scorecard concept includes an innovation and learning perspective, which makes Innovation a direct match. ( Harvard Business Review ) Cost is also acceptable because it represents the financial perspective of the scorecard. Financial measures commonly include cost, profit, expense control, return, and other resource-based measures. ACCA explains the financial perspective as measuring traditional financial performance, including costs and related financial indicators. ( ACCA Global ) Design is incorrect because it is a technical or product-development activity, not a balanced scorecard perspective. Marketing is also incorrect because it may support customer strategy, but the actual scorecard perspective is normally called the customer perspective , not marketing. Therefore, the best two answers from the given options are Cost and Innovation .
References/topics: VM Programs; Balanced Scorecard; Financial/Cost Perspective; Innovation and Learning Perspective; Program Performance Measurement.
NEW QUESTION # 116
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