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| Section | Objectives |
|---|---|
| Value Methodology Core Competencies | - VM Facilitation and Leadership - Value Methodology Job Plan Application - VM Study Execution and Team Management - Value Methodology Foundations
- Advanced VM Practice (Leadership-level application) - Value Concept
|
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NEW QUESTION # 39
How does leveraging the ambiguity of functions foster creativity?
Choose 2 answers.
Answer: C,D
Explanation:
The correct answers are B and D . In Value Methodology, functions are intentionally expressed at an abstract level, normally in an active verb / measurable noun format, so the team can move away from the existing physical solution and examine what the subject must accomplish. SAVE guidance states that the Function Analysis Phase requires understanding the project from a functional perspective: what it must do, rather than how it is currently conceived . It also states that this phase identifies functions on which to focus the Creativity Phase. ( ) This abstraction creates productive ambiguity. Instead of locking the team into a component, design feature, or known process, the function statement reframes the subject context and opens multiple possible ways to satisfy the same need. That directly supports divergent thinking , which is specifically associated with Creativity in the CVS body of knowledge, including unrestricted idea generation, large quantities of ideas, and suspending judgment until Evaluation. ( ) Option A is incorrect because convergent thinking belongs to Evaluation, where ideas are reduced and prioritized. Option C is also incorrect because structure may support FAST or function modeling, but ambiguity fosters creativity by loosening solution bias, not by focusing on structure.
References/topics: Creativity Phase; Function Analysis Phase; Divergent Thinking; Function Abstraction; Subject Reframing.
NEW QUESTION # 40
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 # 41
When a higher discount rate is used to calculate life cycle costs, which change occurs to the value of money over time?
Answer: A
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 # 42
Other than the creative ideas list and evaluation scores, which of the following information should be included in a value study report?
Answer: C
Explanation:
The correct answer is C. Recommended alternatives, list of information reviewed, and function analysis . A value study report must document the technical basis of the VM study and provide management with enough objective information to make implementation decisions. The Presentation Phase requires the VM team to prepare presentation/supporting documentation, compare conclusions to success requirements from the Information and Function Analysis Phases, ensure management has full objective information, and prepare a formal report. ( ) Recommended alternatives belong in the report because the Development Phase converts selected ideas into clearly written value alternatives, supported by assumptions, sketches, calculations, cost comparisons, and implementation considerations. ( ) A list of information reviewed is also appropriate because the Information Phase gathers project data, key documents, cost data, quality data, marketing information, process flow charts, and other baseline material. ( ) Function analysis is essential because it records the functional basis of the study, including identified functions, function models, cost drivers, performance attributes, and value- mismatched functions. ( ) Option A is administrative and incomplete. Option B includes a stakeholder survey, which is not a standard core report element. Option D is weakened by "VM presentation," because the presentation is separate from the report deliverable.
References/topics: Presentation Phase; Value Study Report; Information Phase; Function Analysis Phase; Development Phase; Recommended Alternatives.
NEW QUESTION # 43
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: B,D
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 # 44
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