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| Section | Objectives |
|---|---|
| Topic 1: Value Methodology Core Competencies | - Function Analysis - Advanced VM Practice (Leadership-level application) - Value Concept
- VM Study Execution and Team Management - VM Facilitation and Leadership - Value Methodology Foundations
|
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NEW QUESTION # 13
When is the most appropriate time to acquire information from the customer?
Answer: A
Explanation:
The correct answer is C. Before the VM study begins . Customer information must be acquired during the Preparation Phase , also called the pre-study effort, because the VM facilitator needs accurate project knowledge before the formal study session starts. This includes the customer's objectives, needs, constraints, priorities, budget concerns, schedule requirements, performance expectations, risk issues, and definition of success. Without this information, the VM team may begin the study with an unclear scope, incomplete data, or incorrect assumptions.
The customer's input also helps the facilitator select the right team members, prepare the agenda, identify required documents, define study boundaries, and confirm the decision-making framework. By the time the team enters the Information Phase, the study should already be organized and supported by relevant background data.
Option A is weaker because waiting until the study begins reduces efficiency and may waste team time.
Option B is incorrect because the final presentation is for communicating recommendations, not collecting basic customer requirements. Option D is incorrect because conceptual development occurs after functions and ideas have already been analyzed.
References/topics: Preparation Phase; Pre-Study Activities; Customer Requirements; Study Scope; VM Job Plan; Information Readiness.
NEW QUESTION # 14
A VM program manager has the resources to undertake one VM study, but 4 candidate subjects/projects are available, each costing $10 million. Which subject/project should be selected?
Answer: A
Explanation:
The correct selection is D because it provides the strongest balance of study readiness, timing, and probability of return . A VM program manager must allocate limited study resources to the candidate most likely to produce measurable value improvement. SAVE guidance states that VM produces the greatest benefit early in development when basic project information is established but major design resources have not yet been fully committed. ( cdn..com ) It also notes that later studies are more likely to increase implementation cost. ( cdn..
com )
Option D is therefore superior because a 30% design with a detailed estimate gives the VM team enough factual information for function, cost, worth, and alternative analysis, while the project is still early enough for recommendations to be implemented economically. The fact that the previous similar project achieved the target ROI further supports selection because it indicates a credible return pattern. Option A is too late because the design is complete and ROI is already doubtful. Options B and C are too immature because design has not started; C is additionally weak because the similar previous project failed to meet ROI.
References/topics: VM Programs; Value Program Management; Study Selection; ROI; Timing of VM Studies; Preparation Phase.
NEW QUESTION # 15
What are key factors that cause VM programs to fail?
Choose 2 answers.
Answer: A,B
Explanation:
The correct answers are A and B . A VM program can fail when it is placed too narrowly inside one department because Value Methodology must operate as an organization-wide management process, not as the property of a single functional group. When VM is positioned inside one department, other departments may view it as that department's agenda rather than as a neutral, cross-functional decision-support process.
This weakens participation, reduces ownership of recommendations, and limits executive visibility.
An undefined implementation and change management process is also a major failure factor. VM studies produce recommendations, but the program succeeds only when those recommendations are reviewed, approved, assigned, tracked, and integrated into normal project or business controls. Without a defined implementation path, even technically strong VM proposals can remain unused. Change management is necessary because VM recommendations often alter scope, design, delivery approach, cost allocation, or stakeholder expectations.
By contrast, management support and tracking VM study results are success factors, not failure factors.
Executive support gives authority and resources, while tracking verifies savings, value improvement, and accountability.
References/topics: VM Programs; Program Organization; Management Support; Implementation Process; Change Management; Tracking VM Results.
NEW QUESTION # 16
Which of the following are important to the success of the Presentation Phase?
Choose 3 answers.
Answer: A,B,C
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 # 17
A team wants to skip Function Analysis because the design solution already appears obvious. What is the best CVS-level response?
Answer: B
Explanation:
The correct answer is C . Function Analysis is not an optional administrative exercise. SAVE's VM Standard states that, for a study to qualify as a Value Study, the team must follow an organized Job Plan and perform Function Analysis as defined in the standard. It also states that the team defines functions using active verb
/measurable noun language and analyzes them to determine which need improvement, elimination, or creation.
Option A is wrong because expert confidence does not replace the VM process. Experts are valuable, but they often carry design bias. Option B destroys the logic of the Job Plan because Development should refine selected ideas, not bypass function understanding. Option D may provide useful cost intelligence, but benchmarking does not identify required functions or function relationships. The disciplined CVS answer is that Function Analysis protects the team from solution fixation. It reveals what must be accomplished, which functions consume resources, and where value mismatches exist. Skipping it reduces VM to ordinary design review.
References/topics: Function Analysis Phase; Valid Value Study; VM Job Plan Discipline.
NEW QUESTION # 18
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