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| Section | Objectives |
|---|---|
| Topic 1: Job Plan Phases | - Evaluation Phase
|
| Topic 2: Professional Practice Requirements | - Project documentation and reporting - Value study facilitation |
| Topic 3: Value Methodology Overview | - Principles of Value Engineering / Value Analysis
|
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NEW QUESTION # 27
Which of the following are techniques the VM facilitator might use for a VM study team that is having difficulty completing the FAST diagram?
Choose 2 answers.
Answer: B,C
Explanation:
The correct answers are A and D . When a VM study team struggles to complete a FAST diagram, the facilitator should guide the team through questioning, not take control of the technical work. Asking whether a function is missing is an appropriate facilitation technique because a break in the How/Why logic often means the team has skipped a needed function, used an unclear verb-noun statement, or failed to connect a supporting function to a higher-order function. This keeps ownership with the team while helping them complete the logic chain.
Reviewing the level of abstraction is also correct. FAST diagramming requires functions to be placed at the right level: not too broad, not too detailed, and consistent with the project scope. If one function is stated at a strategic level and another at a component-detail level, the FAST diagram becomes difficult to organize.
Option B is incorrect because the facilitator should not reorganize the functions for the team; that weakens team participation and ownership. Option C is incorrect because not every identified function must appear in the final FAST diagram. Only functions that support the logical function model should be used.
References/topics: Function Analysis Phase; FAST Diagramming; Facilitation; Function Logic; Level of Abstraction.
NEW QUESTION # 28
A VM study team member arrives with new information during the development of VM proposals. What should the VM facilitator do?
Choose 2 answers.
Answer: A,C
Explanation:
The correct answers are A and B . During the Development Phase , the VM team is converting selected ideas into value alternatives, so any new information that affects assumptions, cost, risk, performance, stakeholder impact, or feasibility must be evaluated before the proposal is finalized. SAVE's Study Guide explains that each Job Plan phase provides information needed for the next phase and that, as the team gains additional knowledge, a previous phase may be revisited. ( ) Therefore, the facilitator should first assess the information with the VM team to determine whether it changes the rationale, calculations, risk profile, or viability of any proposal.
The facilitator should also discuss the information with the study subject program manager because the information may affect scope, owner requirements, baseline assumptions, implementation constraints, or management expectations. In the Development Phase, value alternatives must be clearly written with supporting assumptions, calculations, vendor information, cost comparisons, and other information needed to convey the alternative. ( ) Option C is premature because new information does not automatically require a new proposal. Option D is incorrect because disregarding relevant information undermines proposal credibility and informed decision- making.
References/topics: Development Phase; Value Alternative Development; Facilitator Responsibilities; Proposal Validation; VM Team Coordination.
NEW QUESTION # 29
The Value Methodology
Choose 2 answers.
Answer: A,C
Explanation:
The correct answers are A and D . Value Methodology is defined by SAVE International as a systematic process used by a multidisciplinary team to improve project value through the analysis of functions. Because the method intentionally brings together people from different technical, operational, cost, owner, user, and management perspectives, it naturally encourages multidisciplinary communication . The SAVE Study Guide also explains that function naming helps multidisciplinary teams build a shared understanding of project requirements, which supports clearer communication and better identification of value-improvement opportunities. ( ) The second correct answer is develops realistic budgets . VM evaluates required functions against resources such as materials, labor, price, time, and other cost drivers. This function/resource relationship helps teams understand what the project must accomplish and what resources are reasonably required. OMB's Value Engineering policy also describes VE as a management tool used to ensure realistic budgets , remove nonessential costs, and maintain acceptable quality. ( George W. Bush White House Archives ) Option C is incorrect because VM does not maintain paradigms; it challenges assumptions and existing approaches. Option B may occur as an indirect benefit, but it is not the stronger core answer for this two- response item.
References/topics: Value Methodology Definition; Multidisciplinary Team; Function/Resource Relationship; VM Job Plan; VM Programs.
NEW QUESTION # 30
A VM program's standard operating procedures should include
Answer: A
Explanation:
The correct answer is B . A VM program's standard operating procedures should define how candidate subjects or projects are identified, screened, selected, prioritized, and authorized for VM studies. This belongs to VM program governance because limited VM resources must be applied to subjects with appropriate scope, timing, information availability, organizational importance, and value-improvement potential. SAVE's Value Standard states that the standard assists managers and value program managers in applying VM within organizations in a consistent manner, and also guides practitioners and managers in determining when to apply VM to a project to maximize innovation and implementation benefits. ( wsdot.wa.gov ) Option A is too rigid. SAVE recognizes multidisciplinary teams of experienced professionals and stakeholders; people outside the project may be added for perspective, but every team member is not required to be independent from the development team. ( wsdot.wa.gov ) Option C is incorrect because functions are not pre-listed generically; they are identified specifically for the study subject during Function Analysis.
Option D is also incorrect because creativity should encourage broad idea generation, but the SOP should not prescribe a fixed number of ideas as a universal requirement. VM procedures should standardize the management process, not force artificial technical outputs.
References/topics: VM Programs; Program SOPs; Study Subject Identification; Value Program Management; Study Selection Criteria.
NEW QUESTION # 31
When a higher discount rate is used to calculate life cycle costs, which change occurs to the value of money over time?
Answer: B
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 # 32
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