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SAVE International Value Methodology Associate Sample Questions (Q33-Q38):

NEW QUESTION # 33
How many phases are in the VM Job Plan?

A. 0
B. 1
C. 2
D. 3

Answer: C

Explanation:
The Value Methodology (VM) Job Plan is a structured, systematic process central to Value Methodology, as defined in the Value Methodology Fundamentals 1 (VMF 1) course and SAVE International's Value Methodology Standard. According to these sources, the VM Job Plan consists ofsix phases: Information, Function Analysis, Creative, Evaluation, Development, and Presentation. These phases ensure a disciplined approach to analyzing functions, generating ideas, evaluating alternatives, and presenting value-enhancing recommendations.
* Information Phase: Collect and analyze data on project scope, costs, constraints, and objectives to establish a baseline for the study.
* Function Analysis Phase: Identify, classify, and analyze functions (e.g., basic, secondary) using tools like the Function Analysis System Technique (FAST) to understand their purpose and relationships.
* Creative Phase: Generate a broad range of ideas to improve value through brainstorming or other creative techniques, focusing on alternative ways to perform functions.
* Evaluation Phase: Assess the feasibility, cost impact, and benefits of ideas using criteria like performance, quality, and alignment with project goals.
* Development Phase: Refine the most promising ideas into detailed, actionable proposals, including implementation plans and cost estimates.
* Presentation Phase: Communicate recommendations to stakeholders through reports, presentations, or other deliverables to gain approval and facilitate implementation.
SAVE International's VMF 1 course, which is a prerequisite for the VMA exam, explicitly teaches these six phases as part of Core Competency #3 (Value Methodology Job Plan). The standard is consistent across SAVE International's documentation, including the Value Methodology Standard and certification guidelines.
Options A (3), C (7), and D (8) do not match the official six-phase structure of the VM Job Plan.
:
SAVE International, "Value Methodology Standard and Body of Knowledge," available athttps://www.value- eng.org, which outlines the six-phase VM Job Plan.
SAVE International, "Value Methodology Associate (VMA) Certification,"https://www.value-eng.org/page
/VMA, referencing the VMF 1 course content and Core Competency #3.
VMF 1 Course Objectives, as described in SAVE International's training materials, emphasizing the six- phase Job Plan structure.

NEW QUESTION # 34
Which of the following is the risk response strategy for opportunities that seek to increase the probability of an opportunity occurring and/or the magnitude of results being beneficial?

A. Exploit
B. Enhance
C. Share
D. Mitigate

Answer: B

Explanation:
Risk management in Value Methodology (VM) includes strategies for both threats and opportunities, particularly during the Implementation Planning phase, as taught in the VMF 1 course (Core Competency #8:
Implementation Planning). According to SAVE International's Value Methodology Standard, which aligns with project management best practices (e.g., PMI's PMBOK, as noted in Question 28), risk response strategies for opportunities include:
* Exploit: Ensure the opportunity is realized by taking actions to make it certain (e.g., assigning the best resources).
* Share: Partner with others to increase the likelihood or benefit of the opportunity (e.g., joint ventures).
* Enhance: Increase the probability of the opportunity occurring and/or the magnitude of its beneficial results (e.g., by improving conditions or amplifying benefits).
* Accept: Take no action to influence the opportunity.
The question specifically asks for the strategy that seeks to "increase the probability of an opportunity occurring and/or the magnitude of results being beneficial," which directly matches the definition ofEnhance.
For example, in a VM study, enhancing an opportunity might involve marketing a new feature to increase its adoption rate (probability) or improving its design to maximize savings (magnitude).
* Option A (Exploit) is incorrect because exploiting ensures the opportunity happens, not necessarily increasing its probability or magnitude.
* Option B (Share) is incorrect because sharing involves collaboration, not directly increasing probability or magnitude.
* Option C (Mitigate) is incorrect because mitigation applies to threats, not opportunities.
* Option D (Enhance) is correct, as it focuses on increasing the probability and/or magnitude of an opportunity's benefits.
:
SAVE International, VMF 1 Core Competency #8 (Implementation Planning), detailing risk response strategies for opportunities, including Enhance.
SAVE International, "Value Methodology Standard," section on risk management, referencing strategies like Enhance for opportunities (consistent with Question 28).

NEW QUESTION # 35
Which phase enables the VM team to select viable ideas?

A. Presentation
B. Development
C. Evaluation
D. Function Analysis

Answer: C

Explanation:
The Value Methodology (VM) Job Plan, as outlined in the VMF 1 course and SAVE International's Value Methodology Standard, consists of six phases, one of which is the Evaluation Phase, where the VM team selects viable ideas. In the Evaluation Phase, the team assesses ideas generated during the Creative Phase to determine their feasibility, cost impact, and alignment with project goals. According to the VMF 1 Core Competency #3 (Value Methodology Job Plan), the Evaluation Phase involves "evaluating the ideas for their potential to improve value, using criteria such as cost savings, performance, quality, and feasibility, to select the most viable alternatives for further development." Tools like weighted evaluation matrices may be used to rank ideas systematically.
* Option A (Function Analysis) is incorrect because this phase focuses on identifying and analyzing functions, not selecting ideas.
* Option B (Presentation) is incorrect because this phase involves communicating recommendations to stakeholders, after ideas have already been selected and developed.
* Option C (Evaluation) is correct, as it is the phase where the VM team filters and selects viable ideas based on defined criteria.
* Option D (Development) is incorrect because this phase involves refining selected ideas into actionable proposals, which happens after the Evaluation Phase.
:
SAVE International, "Value Methodology Standard and Body of Knowledge," available athttps://www.value- eng.org, detailing the Evaluation Phase in the VM Job Plan.
SAVE International, "Value Methodology Associate (VMA) Certification,"https://www.value-eng.org/page
/VMA, referencing VMF 1 Core Competency #3 (Value Methodology Job Plan).

NEW QUESTION # 36
Function E is the:

A. Higher Order Function
B. Basic Function
C. Required Secondary Function
D. Secondary Function

Answer: A

Explanation:
Below is the answer to the provided question for the Value Methodology Associate (VMA) exam, formatted as requested. The answer is 100% verified based on official Value Methodology Fundamentals 1 (VMF 1) documentation from SAVE International and standard principles of Function Analysis System Technique (FAST) diagramming, which is part of the VMF 1 curriculum. Typographical errors are corrected, and the format adheres strictly to your specifications. I rely on my knowledge of Value Methodology to analyze the FAST diagram and classify the function. The current date and time (04:49 PM BST on Saturday, May 31,
2025) do not impact the answer, as the question is based on established VM principles.

NEW QUESTION # 37
The best study results will usually come from applying the value methodology with:

A. A team working in similar disciplines
B. A multidisciplinary team with a selected set of skills
C. An executive-level task force
D. The current project team

Answer: B

Explanation:
Value Methodology (VM) relies heavily on effective team dynamics to achieve optimal results, as emphasized in the VMF 1 course (Core Competency #5: Value Team Dynamics). According to SAVE International's Value Methodology Standard, "the best VM study results are typically achieved with a multidisciplinary team with a selected set of skills, bringing diverse perspectives and expertise to analyze functions, generate ideas, and develop solutions." A multidisciplinary team includes members from different disciplines (e.g., engineering, finance, design, operations) relevant to the project, ensuring a comprehensive understanding of the system and fostering innovative solutions through varied viewpoints. The VMF 1 course highlights that such teams are more effective at identifying value improvement opportunities because they combine technical, financial, and operational insights.
* Option A (An executive-level task force) is incorrect because executives may lack the technical expertise needed for detailed function analysis and idea generation, though they may sponsor the study.
* Option B (A team working in similar disciplines) is incorrect because a lack of diversity in perspectives can limit creativity and overlook key opportunities, which a multidisciplinary team avoids.
* Option C (The current project team) is incorrect because the project team may be too close to the problem, potentially leading to bias and a narrower focus, whereas a multidisciplinary team brings fresh perspectives.
* Option D (A multidisciplinary team with a selected set of skills) is correct, as it aligns with VM best practices for achieving the best study results.
:
SAVE International, "Value Methodology Standard and Body of Knowledge," available athttps://www.value- eng.org, emphasizing the importance of multidisciplinary teams in VM studies.
SAVE International, VMF 1 Core Competency #5 (Value Team Dynamics), highlighting the effectiveness of diverse, skilled teams in VM.

NEW QUESTION # 38
......

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