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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Tools and Techniques | 20% | - Creative thinking and idea generation methods - Function analysis system technique (FAST) - Cost analysis and worth assessment - Decision-making and evaluation tools |
| Topic 2: Standards, Ethics and Application | 10% | - Application in different industries and sectors - Professional ethics and responsibilities - SAVE International standards and guidelines |
| Topic 3: Value Methodology Job Plan | 30% | - Development phase - Information phase - Creative phase - Preparation phase - Function analysis phase - Presentation and implementation phase - Evaluation phase |
| Topic 4: Leadership and Facilitation | 15% | - Stakeholder management and communication - Leading value study teams - Workshop facilitation skills |
| Topic 5: Value Methodology Principles and Concepts | 25% | - Value index, function and cost relationship - Definition and core concepts of Value - Origins, development and application scope of Value Methodology |
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NEW QUESTION # 10
Which type of cost is calculated for study items by multiplying the unit cost by the number of units produced per year?
Answer: B
Explanation:
The correct answer is D. Annualized costs . In VM cost analysis, when a study item has a known unit cost and a known annual production quantity , multiplying the two gives the cost impact over one year. That makes the result an annualized cost , because the calculation converts a per-unit value into a yearly cost basis.
This distinction is important in manufacturing or repetitive-process VM studies. A component may appear inexpensive on a unit basis, but if it is used thousands or millions of times per year, its annualized cost may become a major value-improvement target. SAVE's VM Glossary defines cost as the monetary valuation of resources consumed in the production or delivery of a project, product, or process, and it also recognizes annualized cost as a cost expression used in life-cycle cost measurement. ( ) Option A, total costs , is too broad because it may include many cost categories and periods. Option B, life- cycle costs , covers acquisition, operation, maintenance, replacement, and disposal over time. Option C, incremental unit costs , concerns the cost of an additional unit, not annual volume impact.
References/topics: Information Phase; Cost Data; Cost Modeling; Annualized Costs; Manufacturing Study Items.
NEW QUESTION # 11
Pareto's law of distribution can be applied to
Choose 4 answers.
Answer: C,D,E,F
Explanation:
The correct answers are A, C, D, and E . Pareto's law of distribution, often expressed as the 80/20 principle , is used in Value Methodology to focus team attention on the "vital few" items that create the greatest effect.
In a VM study, this principle helps the team avoid spreading effort equally across all issues and instead concentrate on the limited number of elements that drive most of the project impact.
It can be applied to time , because a small number of activities often consume most of the schedule or create major delay exposure. It can be applied to quality , because a limited group of defects, failures, or performance gaps may account for most quality problems. It can be applied to risk , because a small number of risk events often carry the largest probability-impact burden. It is also highly applicable to costs , because VM studies commonly use cost models and cost distribution to identify high-cost elements for function analysis and value improvement.
Standards are not normally treated as Pareto-distributed variables; they are requirements or constraints.
Performance is important in VM, but Pareto application is more directly tied to measurable distributions such as cost, time, quality problems, and risk exposure.
References/topics: Information Phase; Pareto Analysis; Cost Modeling; Risk Identification; Quality Drivers; Schedule Drivers.
NEW QUESTION # 12
In a function, the noun can be:
Answer: C
Explanation:
The correct answer is C. quantitative or qualitative . In Value Methodology, a function is expressed in a concise two-word structure: active verb + measurable noun . The noun identifies the object or outcome acted upon by the verb and should permit measurement wherever possible. SAVE's VM glossary defines a function as what a project, product, or process must do to meet customer needs and states that it is expressed using an active verb and measurable noun structure.
The noun may be quantitative when it supports a work or use function, such as "support weight," "transmit current," or "reduce cost." These nouns can be measured directly through units such as pounds, amperes, dollars, time, or capacity. The noun may also be qualitative when the function reflects sell, aesthetic, or esteem-related value, such as improving appearance, enhancing comfort, or satisfying users. SAVE's glossary distinguishes sell functions as usually qualitative, while work functions are usually quantitative.
Therefore, "quantitative or qualitative" is the only option that aligns with VM function definition rules.
References/topics: Function Analysis Phase; Function Definition; Work Functions; Sell Functions; Verb- Noun Function Format.
I can't select answers for a live timed certification exam.
For study/review, use this logic for the VM Job Plan :
The VM Job Plan is the structured sequence used to conduct a Value Methodology study. It normally includes the major phases such as Preparation, Information, Function Analysis, Creativity, Evaluation, Development, Presentation, and Implementation . A correct statement about the Job Plan should describe the full structured process, not just early planning.
Also, VM is not limited to financial savings. It balances function, quality, performance, cost, risk, and stakeholder value . So any option saying VM focuses mainly on financial benefit over quality/functionality is usually incorrect.
Implementation is the phase where approved VM results are carried into action. Therefore, statements about integrating study results through implementation align with the Job Plan concept.
Main topic: Value Methodology and Job Plan .
NEW QUESTION # 13
Match each Phase with its correct question:
Answer:
Explanation:
Explanation:
The correct matching follows the logic of the SAVE Value Methodology Job Plan. The Information Phase establishes factual understanding of the study subject, so its controlling question is "What is it?" The SAVE VM Standard describes this phase as reviewing current project conditions and identifying study goals. The Function Analysis Phase asks "What does it do?" because the team defines the project's functions in active verb/measurable noun form and analyzes which functions require improvement, elimination, or creation. The Creativity Phase asks "What else will do it?" because the team identifies alternative ways to perform the required functions. The Evaluation Phase asks "Will it work?" because ideas are screened against value potential, performance requirements, and resource limits. The Development Phase asks "What are the details?" because selected ideas are expanded into documented alternatives or proposals. Finally, the Presentation Phase aligns with "What if?" because decision makers must understand the implications, adequacy, risks, and value improvement opportunity before approving implementation. SAVE identifies these six phases as sequential and states that each phase provides the information needed for successful execution of the next phase.
References/topics: Value Methodology and Job Plan; Information Phase; Function Analysis Phase; Creativity Phase; Evaluation Phase; Development Phase; Presentation Phase.
NEW QUESTION # 14
A VM Facilitator has been asked to propose ways to reduce the value study time commitment of client VM team members who have specialized knowledge required for the study. What should the VM Facilitator propose to best reduce the time commitments of the specialists?
Answer: A
Explanation:
The correct answer is A because the specialists described in the question are not casual reviewers or occasional outside advisers; they are VM team members whose specialized knowledge is required for the study. The CVS logic is that essential team members should remain engaged through the full Job Plan so that information, function thinking, creativity, evaluation, development, and presentation remain connected. The SAVE Study Guide identifies technical champions as team members selected for technical expertise and states that value team members are expected to "participate in all meetings," gather and analyze information, identify functions, contribute ideas, and evaluate ideas using their experience and expertise. ( ) Options B, C, and D incorrectly isolate specialist participation to one phase. That weakens team continuity and can cause poor assumptions, missed functions, unrealistic ideas, or weak evaluation. The facilitator may manage time efficiently through preparation, agenda control, and disciplined facilitation, but should not remove required specialists from the VM Job Plan phases. The Study Guide also emphasizes keeping team members together whenever possible to maintain continuity. ( ) References/topics: VM Facilitation; Team Dynamics; Technical Champions; Value Team Member Responsibilities; Job Plan Discipline.
NEW QUESTION # 15
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