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| Section | Objectives |
|---|---|
| Topic 1: Value Methodology Overview | - Principles of Value Engineering / Value Analysis
|
| Topic 2: Professional Practice Requirements | - Project documentation and reporting - Value study facilitation |
| Topic 3: Job Plan Phases | - Creative Phase
|
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NEW QUESTION # 81
Match the statements that best identify a FAST diagram and flowchart.
Answer:
Explanation:
Explanation:
The correct matches are FAST Diagram = Describes the purpose of the study subject and Flowchart = Describes the activities of the study subject . In Value Methodology, a FAST diagram is not an activity map. It is a function model. SAVE's Study Guide defines a function as the original intent or purpose that a product, service, or process is expected to perform, expressed in active verb/measurable noun form. It also defines FAST as a graphical representation of dependent relationships between functions within a project.
Therefore, FAST is used to understand the functional purpose and how functions logically relate through "how
/why" thinking.
A flowchart is different. It represents process flow: the sequence of activities, steps, or operations used by the study subject. SAVE's glossary defines a process as a sequence of activities that delivers a product or project.
That aligns directly with the option "Describes the activities of the study subject."
"Identifies flaws" is too narrow; defects may be discovered during analysis, but that is not the defining purpose of either tool. "Prioritizes activities" is also incorrect because prioritization normally belongs to evaluation or decision methods, not basic FAST or flowchart definition.
References/topics: Function Analysis Phase; FAST Diagramming; Function Modeling; Process Flowchart; How-Why Logic.
NEW QUESTION # 82
During the Implementation Phase, the project manager is tasked to ensure compliance with internal tracking and auditing procedures. Which action would most effectively demonstrate the application of tracking and audit knowledge and skills?
Answer: C
Explanation:
The correct answer is C because it directly applies both tracking and audit controls during the Implementation Phase. The CVS/SAVE Value Methodology guidance defines Implementation Activities as ensuring that accepted value alternatives are actually implemented and that the projected benefits are realized. It also identifies implementation responsibilities such as establishing action plans, obtaining commitments, setting review timeframes, tracking value achievement, signing off deliverables, validating benefits, and managing the implementation plan. ( ) Regular audits of project documentation are the most effective action because they verify that recorded data is accurate, current, traceable, and compliant with internal procedures while implementation is still active. This supports corrective action in real time rather than after-the-fact discovery. Option A is incomplete because it excludes tracking procedures. Option B monitors milestones but deliberately avoids auditing the process, which weakens compliance assurance. Option D is reactive and delayed; reviewing logs only at project close does not adequately control implementation performance or prevent noncompliance during execution. The SAVE study guide also emphasizes the value tracking process and tracking implementation results as part of VM program discipline. ( ) References/topics: Implementation Phase; Value Tracking Process; Implementation Plan; Follow-Up Activities; VM Program Reporting.
NEW QUESTION # 83
Which of the following actions should be taken to develop a comprehensive and effective VM study report?
Choose 2 answers.
Answer: B,D
Explanation:
The correct answers are A. List VM proposals developed and C. Focus the report on the major VM proposals .
In the Presentation Phase, the VM study report must document the results of the study in a clear, decision- oriented format. The report should identify the VM proposals developed during the Development Phase, including the recommended change, basis of comparison, cost effect, value improvement, advantages, disadvantages, and implementation considerations. Listing the developed proposals gives decision makers a complete record of the team's actionable outputs.
However, an effective report should not become a raw archive of every discussion, idea, or technical detail. It should focus attention on the major VM proposals that offer meaningful value improvement and require management review or approval. This aligns with the Presentation Phase purpose: to communicate developed alternatives clearly and obtain concurrence for implementation.
Option B is less appropriate because the methodology may be summarized, but an overly detailed methodology section can distract from the proposals and decisions required. Option D is incorrect because technical terminology should be controlled and audience-appropriate; excessive jargon weakens communication.
References/topics: Presentation Phase; VM Study Report; Development Phase; VM Proposals; Decision- Maker Communication.
NEW QUESTION # 84
Which of the following are key elements of a risk register?
Choose 2 answers.
Answer: A,D
Explanation:
The correct answers are B and D . A risk register is used to document, organize, and evaluate risks so that the VM team can understand how uncertainty may affect proposed alternatives. The two essential risk-register elements shown in the choices are probability of occurrence and impact on the scope . Probability identifies how likely the risk is to happen. Impact identifies what the consequence will be if the risk occurs, including possible effects on scope, cost, schedule, quality, performance, implementation, or stakeholder acceptance.
In the VM Job Plan, risk thinking becomes especially important when ideas move from creativity into evaluation and development. At that point, alternatives are no longer just possibilities; they must be tested for feasibility, consequences, and implementation exposure. A risk with high probability and high impact demands more attention than one with low probability and minor impact.
Option A, performance criteria , is related to evaluation criteria, not a core risk-register field. Option C, function of the risk , is not a standard risk-register element. Functions belong to Function Analysis and are normally expressed in verb-noun format, while risks are documented as uncertain events or conditions.
References/topics: Evaluation Phase; Development Phase; Risk Register; Risk Probability; Risk Impact; VM Proposal Screening.
NEW QUESTION # 85
Which of the following are balanced scorecard perspectives?
Choose 2 answers.
Answer: B,D
Explanation:
The correct answers are A. Cost and D. Innovation . In the CVS/Value Methodology program-management context, a balanced scorecard is used to measure organizational or program performance from more than one viewpoint, rather than judging success only by a single financial result. The traditional balanced scorecard framework includes financial, customer, internal process, and innovation/learning perspectives. Kaplan and Norton's original balanced scorecard concept includes an innovation and learning perspective, which makes Innovation a direct match. ( Harvard Business Review ) Cost is also acceptable because it represents the financial perspective of the scorecard. Financial measures commonly include cost, profit, expense control, return, and other resource-based measures. ACCA explains the financial perspective as measuring traditional financial performance, including costs and related financial indicators. ( ACCA Global ) Design is incorrect because it is a technical or product-development activity, not a balanced scorecard perspective. Marketing is also incorrect because it may support customer strategy, but the actual scorecard perspective is normally called the customer perspective , not marketing. Therefore, the best two answers from the given options are Cost and Innovation .
References/topics: VM Programs; Balanced Scorecard; Financial/Cost Perspective; Innovation and Learning Perspective; Program Performance Measurement.
NEW QUESTION # 86
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