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| Section | Objectives |
|---|---|
| Topic 1: Value Methodology Core Competencies | - VM Study Execution and Team Management - VM Facilitation and Leadership - Value Methodology Foundations
- Value Methodology Job Plan Application - Advanced VM Practice (Leadership-level application) - Value Concept
|
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NEW QUESTION # 27
The VM job plan separates
Answer: A
Explanation:
The correct answer is A. creative steps from analytical steps . The VM Job Plan is structured so the team does not mix information gathering, function analysis, idea generation, judgment, and proposal development into one uncontrolled discussion. SAVE guidance describes the Job Plan as the process that guides the study team in identifying and focusing on key project functions to create ideas that result in value improvement. ( ) This separation is important because the Creative Phase requires free idea generation without premature criticism, feasibility judgment, or cost filtering. The Evaluation Phase then applies analytical judgment to screen, rank, and select ideas with value potential. The Development Phase further analyzes selected alternatives through cost, performance, risk, and implementation considerations. SAVE's VM Standard also states that a qualifying value study follows an organized Job Plan with defined phases, including Function Analysis, Creative, Evaluation, Development, and Presentation. ( ) Option B is incorrect because designers may be part of the multidisciplinary VM team. Option C is incorrect because cost and function are intentionally related during VM analysis. Option D is incorrect because project needs and functions are also connected; functions express what must be done to satisfy needs.
References/topics: Value Methodology and Job Plan; Creative Phase; Evaluation Phase; Function Analysis; Analytical vs Creative Thinking.
NEW QUESTION # 28
A baseline design has a function cost of $120,000 and the team estimates the function worth at $80,000.
Using VI = FC ÷ FW, what is the Value Index?
Answer: B
Explanation:
The correct answer is C . Using the stated formula, Value Index = Function Cost ÷ Function Worth =
$120,000 ÷ $80,000 = 1.50 . SAVE's dictionary defines Function Cost as the directly related resources allocated to a function and Function Worth as the lowest overall cost to perform a function without regard to criteria or code. It also defines Value Index as the monetary relationship of function cost to function worth, expressed as FC ÷ FW, where good value is VI # 1.0.
Option A reverses the formula and calculates FW ÷ FC. Option B would mean cost equals worth, which is not true here. Option D has no mathematical basis from the numbers given. A VI of 1.50 indicates a value mismatch: the current function cost exceeds the function worth. This does not automatically mean the function should be eliminated, but it does identify a strong candidate for creativity and evaluation. CVS candidates must be careful because some older materials express the ratio in reverse; the exam stem controls the formula.
References/topics: Evaluation Phase; Function Cost; Function Worth; Value Index.
NEW QUESTION # 29
Carpet and vinyl tile are acceptable alternatives for an owner to cover 1,000 square meters of floor.
Carpet
Installed cost, including pad = $30 / square meter
Service life = 10 years
Maintenance cost: vacuum weekly = $500 / month
Maintenance cost: shampoo once per year = $3,000 / shampoo
Vinyl
Installed cost, including pad = $10 / square meter
Service life = 15 years
Maintenance cost: vacuum weekly = $400 / month
Maintenance cost: strip and wax once per month = $1,000 / strip and wax Between carpet and vinyl, which is a better value option for the owner over the service life of the products?
Answer: A
Explanation:
The correct answer is A. Carpet $120,000 . This is an Evaluation Phase life-cycle cost comparison. SAVE's VM Dictionary defines life-cycle cost as the sum of initial cost, recurrent annual cost, single expenditures, and disposal or salvage value over a specified period. It also defines recurrent annual cost as operation and maintenance cost occurring throughout each year of service life.
For carpet , the initial cost is:
1,000 square meters × $30 = $30,000
The monthly vacuum maintenance cost is:
$500 × 12 months × 10 years = $60,000
The annual shampoo cost is:
$3,000 × 10 years = $30,000
Therefore, carpet life-cycle cost is:
$30,000 + $60,000 + $30,000 = $120,000
Vinyl is not the better value option in the listed choices. Even though vinyl has a lower initial installed cost, its recurring strip-and-wax maintenance is significant. Over a 10-year comparison period, vinyl would be:
$10,000 + $48,000 + $120,000 = $178,000
That corresponds to option D, but it is higher than carpet's $120,000. The CVS exam trap is focusing on lowest initial cost instead of total cost over the study period. In Value Methodology, value decisions require considering function, performance, and total resource commitment, not first cost alone.
References/topics: Evaluation Phase; Life-Cycle Cost; Initial Cost; Recurrent Annual Cost; Alternative Comparison.
NEW QUESTION # 30
When a higher discount rate is used to calculate life cycle costs, which change occurs to the value of money over time?
Answer: C
Explanation:
The correct answer is D. The life cycle cost is reduced . In Value Methodology, life cycle cost analysis is used to compare alternatives over the full ownership period, not just by initial cost. Future costs such as operation, maintenance, replacement, repair, and disposal are converted to present value using a discount rate. When the discount rate is higher, future costs are discounted more heavily, meaning their present value becomes smaller.
This does not mean the actual future cash payment disappears; it means that, in present-value terms, money spent in the future is worth less today. Therefore, increasing the discount rate reduces the present value of future cost streams and normally lowers the calculated present-value life cycle cost, especially for alternatives with large costs occurring later in the study period.
Option A is incorrect because discounting is essential when costs occur at different times. Option B is incorrect because changing the discount rate directly changes present-value calculations. Option C is incorrect because a higher discount rate does not increase the present value of future costs; it reduces them.
References/topics: Development Phase; Life Cycle Costing; Economic Analysis; Present Value; Discount Rate; VM Proposal Development.
NEW QUESTION # 31
Match the following to their appropriate "How" direction on the function logic path for the prescription eyeglasses.
Answer:
Explanation:
Explanation:
The correct "How" direction follows the classical FAST logic path from the broader purpose toward the dependent means of accomplishment. SAVE defines FAST as a graphical representation of dependent relationships between functions and states that a Classical FAST model displays function interrelationships using how-why logic . In this eyeglasses example, Improve vision is the higher-order purpose: it explains why the basic function exists. The basic function is Correct vision , because prescription eyeglasses exist primarily to correct the user's vision. Moving in the "How" direction, the system corrects vision by Position lenses and Secure lenses ; the frame, bridge, arms, and nose pads exist to keep corrective lenses in the proper relationship to the eyes. The farthest "How"/lower-order decision is Select eyeglasses and Select contact lenses , representing the selected means or alternative correction approach.
The distractors are not on the critical function logic path. Secure position and Resist damage are supporting or secondary dependability functions. Complement appearance is a sell/aesthetic function, because it improves user acceptance but does not define the primary functional logic. SAVE's glossary distinguishes higher-order, lower-order, and secondary functions and explains that secondary functions support the basic function through a specific design approach.
References/topics: Function Analysis Phase; FAST Diagramming; How-Why Logic; Critical Function Logic Path; Basic, Higher-Order, Lower-Order, and Secondary Functions.
NEW QUESTION # 32
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