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| Section | Objectives |
|---|---|
| Topic 1: Value Methodology Core Competencies | - VM Facilitation and Leadership - VM Study Execution and Team Management - Value Methodology Job Plan Application - Value Concept
- Function Analysis - Value Methodology Foundations
|
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NEW QUESTION # 115
Pareto's law of distribution can be applied to
Choose 4 answers.
Answer: A,B,D,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 # 116
Which statement best describes the Implementation Phase?
Answer: C
Explanation:
The correct answer is B . Implementation is the post-presentation activity where accepted recommendations are converted into action. Although the six-phase workshop Job Plan ends with Presentation, SAVE's VM process recognizes post-workshop documentation and implementation activity as part of the broader value study process. The VM Standard's process flow shows pre-workshop, workshop, and post-workshop
/implementation activities.
Option A is incorrect because collecting user attitudes and study preparation occur before or during early study activities, not Implementation. Option C is wrong because Creativity generates alternatives, while Implementation executes approved proposals. Option D is wrong because unselected ideas are not automatically approved. At CVS level, Implementation requires ownership, assigned responsibilities, schedules, change management, technical follow-through, documentation, and confirmation of achieved value. A proposal has no realized value until it is adopted and executed. Weak VM programs often generate impressive workshop reports but fail during implementation because accountability, funding, decision authority, and tracking mechanisms are missing.
References/topics: Implementation Phase; Post-Workshop Activities; Value Realization.
NEW QUESTION # 117
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: D
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 # 118
Subject information:
Service Life = 12 years
Fuel = $9.00 per liter
Annual kilometers driven = 40,000 kilometers
Car A: Paid $40,000 , needs batteries every two years at $600 , needs tires every two years at $1,000 , fuel efficiency = 10 kilometers per liter .
Car B: Paid $50,000 , needs tires every two years at $2,000 , fuel efficiency = 15 kilometers per liter .
Car C: Paid $60,000 , needs tires every two years at $4,000 , fuel efficiency = 20 kilometers per liter .
What is the total life cycle cost - initial, replacement costs, and annual costs - of Car A for the service life of the vehicle without considering the discount rate?
Answer: B
Explanation:
The correct answer is A. $480,000 . In the CVS Value Methodology context, life-cycle cost includes the initial cost, recurrent annual costs, and discrete future replacement expenditures over the defined service period. 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, and single expenditure as a future replacement outlay occurring at discrete times during service life.
For Car A , the initial cost is $40,000 . Annual fuel use is calculated as:
40,000 km ÷ 10 km/liter = 4,000 liters per year
4,000 liters × $9 = $36,000 per year
$36,000 × 12 years = $432,000
Replacement costs occur every two years during the 12-year service period, excluding a replacement at the end of year 12 because the vehicle's service life ends. Therefore, replacements occur at years 2, 4, 6, 8, and 10
:
5 × ($600 batteries + $1,000 tires) = 5 × $1,600 = $8,000
Total LCC = $40,000 + $432,000 + $8,000 = $480,000 .
References/topics: Evaluation Phase; Life-Cycle Cost; Initial Cost; Recurrent Annual Cost; Single Expenditure; Cost Analysis.
NEW QUESTION # 119
Which of the following actions demonstrate brainwriting during the Creativity Phase?
Answer: B
Explanation:
The correct answer is A . Brainwriting is an idea-generation technique in which participants first develop ideas individually and silently in written form before the ideas are shared, reviewed, or expanded by the group. This fits the Creativity Phase because the purpose of that phase is to generate a quantity of ideas related to alternative ways of performing required functions. The SAVE Study Guide identifies the Creative Phase purpose as generating "a quantity of ideas" and asks the fundamental question: "How else may the functions be performed?" It also emphasizes establishing rules that protect the creative environment and using group idea-stimulation techniques. ( ) Option B describes verbal brainstorming, not brainwriting. Option C is incorrect because feasibility screening belongs later in the Evaluation Phase; limiting ideas during creativity suppresses innovation. Option D contains a partial brainwriting concept, because some brainwriting methods allow participants to build on others' ideas, but the wording "instead of developing their own" is too restrictive and does not represent the core method. Brainwriting begins with silent individual idea capture.
References/topics: Creativity Phase; Idea Generation; Creativity Ground Rules; Group Idea-Stimulation Techniques; Brainwriting.
NEW QUESTION # 120
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