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SAVE International Value Methodology Associate Sample Questions (Q53-Q58):

NEW QUESTION # 53
When transforming subject scope information, it is most important that the VM study team have a clear understanding of:

A. the interests and influence of customers, users, and stakeholders.
B. the subject's purpose and the objectives of the VM study.
C. the Pareto chart, risk data, and quality expectations.
D. value improvement ideas and performance attributes.

Answer: B

Explanation:
Transforming subject scope information occurs during the Information Phase of the Value Methodology (VM) Job Plan, as taught in the VMF 1 course (Core Competency #3: Value Methodology Job Plan).
According to SAVE International's Value Methodology Standard, "when transforming subject scope information, the VM study team must have a clear understanding of the subject's purpose (what it does and why it exists) and the objectives of the VM study (e.g., reduce costs by 15%, improve performance)." This understanding ensures that the team aligns the study with the project's goals and the VM process's aims, setting the foundation for effective function analysis and value improvement. This aligns with the primary objective of the Information Phase-to understand the subject-and the focus of the kickoff meeting on outlining goals and objectives. While stakeholder interests and other data are important, the most critical understanding is of the subject's purpose and study objectives.
* Option A (value improvement ideas and performance attributes) is incorrect because value improvement ideas are developed later (Creativity Phase, Question 49), and performance attributes are a subset of the broader purpose.
* Option B (the subject's purpose and the objectives of the VM study) is correct, as it captures the most important understanding needed during the Information Phase.
* Option C (the Pareto chart, risk data, and quality expectations) is incorrect because these are specific tools or data points, not the most critical understanding; Pareto charts apply later.
* Option D (the interests and influence of customers, users, and stakeholders) is incorrect because, while important, this is a subset of understanding the subject's purpose and study objectives, which are more fundamental.
:
SAVE International, "Value Methodology Standard and Body of Knowledge," available athttps://www.value- eng.org, emphasizing the need to understand the subject's purpose and study objectives in the Information Phase.
SAVE International, VMF 1 Core Competency #3 (Value Methodology Job Plan), highlighting the focus on purpose and objectives (consistent with Questions 39 and 50).

NEW QUESTION # 54
An effective Information Phase kickoff meeting:

A. Indicates the VM solutions desired by decision makers.
B. Outlines goals for the study subject and VM study objectives.
C. Discusses the challenges of the proposed VM study approach.
D. Describes how functions have normally been accomplished.

Answer: B

Explanation:
The Information Phase is the first phase of the Value Methodology (VM) Job Plan, where the team gathers and understands data about the study subject, as taught in the VMF 1 course (Core Competency #3: Value Methodology Job Plan). According to SAVE International's Value Methodology Standard, "an effective Information Phase kickoff meeting sets the stage for the VM study by outlining the goals for the study subject and the VM study objectives, ensuring alignment among team members and stakeholders." This involves clarifying the purpose of the study, the project's goals (e.g., reduce costs, improve performance), and the specific objectives of the VM study (e.g., achieve 20% cost savings while maintaining function). This aligns with the primary objective of the Information Phase-to understand the subject-and ensures the team starts with a clear direction.
* Option A (Discusses the challenges of the proposed VM study approach) is incorrect because, while challenges may be acknowledged, the primary focus of the kickoff is to set goals and objectives, not discuss challenges.
* Option B (Outlines goals for the study subject and VM study objectives) is correct, as it matches the purpose of an effective Information Phase kickoff meeting.
* Option C (Indicates the VM solutions desired by decision makers) is incorrect because solutions are developed later (e.g., in the Creativity and Development Phases), not during the Information Phase kickoff.
* Option D (Describes how functions have normally been accomplished) is incorrect because this level of functional detail is addressed in the Function Analysis Phase, not the Information Phase kickoff.
:
SAVE International, "Value Methodology Standard and Body of Knowledge," available athttps://www.value- eng.org, detailing the role of the Information Phase kickoff in setting goals and objectives.
SAVE International, VMF 1 Core Competency #3 (Value Methodology Job Plan), emphasizing the importance of outlining goals during the Information Phase (consistent with Question 39).

NEW QUESTION # 55
The VM is defined by SAVE International as a:

A. Specialized process
B. Sequential process
C. Systematic process
D. Structured process

Answer: C

Explanation:
Value Methodology (VM) is defined by SAVE International in its Value Methodology Standard as "a systematic processthat uses a structured Job Plan to improve the value of projects, products, or processes by analyzing their functions and identifying opportunities to achieve required functions at the lowest total cost without compromising quality or performance." The term "systematic" emphasizes the methodical, disciplined approach of VM, which follows a defined sequence of phases (the VM Job Plan) and uses specific tools like Function Analysis and cost modeling to ensure consistency and effectiveness.
* Option A (Structured process) is partially correct, as VM is structured, but "systematic" is the precise term used by SAVE International to describe the methodology's comprehensive and methodical nature.
* Option B (Specialized process) is incorrect because VM is a general methodology applicable across industries, not limited to a specific domain.
* Option C (Systematic process) is correct, directly matching SAVE International's definition of VM.
* Option D (Sequential process) is incorrect because, while the VM Job Plan is sequential, the definition of VM focuses on its systematic nature, not just the sequence.
:
SAVE International, "Value Methodology Standard and Body of Knowledge," available athttps://www.value- eng.org, defining VM as a systematic process.
SAVE International, "Value Methodology Associate (VMA) Certification,"https://www.value-eng.org/page
/VMA, referencing VMF 1 Core Competency #1 (Value Methodology Overview).

NEW QUESTION # 56
Which of the following techniques involves capturing input from multiple customers and stakeholders at the same time?

A. Questionnaires
B. Interviews
C. Surveys
D. Focus panels

Answer: D

Explanation:
In Value Methodology (VM), gathering input from customers and stakeholders is a key activity, particularly during the Information Phase of the VM Job Plan, as taught in the VMF 1 course (Core Competency #3:
Value Methodology Job Plan). According to SAVE International's Value Methodology Standard, various techniques are used to collect stakeholder input, including interviews, questionnaires, surveys, and focus panels. The standard defines these as follows:
* Interviews: One-on-one discussions with individual stakeholders to gather detailed insights.
* Questionnaires: Written sets of questions distributed to stakeholders, typically completed individually.
* Surveys: Similar to questionnaires, often distributed to a larger group, with responses collected individually.
* Focus panels: Group discussions involving multiple customers and stakeholders simultaneously, designed to capture collective input and foster dialogue.
The question specifies a technique that involves capturing input "at the same time" from multiple customers and stakeholders, which aligns with the definition offocus panels. Focus panels (or focus groups) bring together diverse stakeholders in a single session to discuss needs, preferences, and concerns, allowing for real- time interaction and consensus-building, which is particularly useful in VM studies to understand project objectives and constraints.
* Option A (Interviews) is incorrect because interviews are typically conducted one-on-one, not with multiple stakeholders simultaneously.
* Option B (Questionnaires) is incorrect because questionnaires are completed individually, not in a group setting at the same time.
* Option C (Surveys) is incorrect because surveys are also completed individually, often asynchronously, not at the same time.
* Option D (Focus panels) is correct, as it involves capturing input from multiple stakeholders simultaneously in a group setting.
:
SAVE International, "Value Methodology Standard and Body of Knowledge," available athttps://www.value- eng.org, detailing stakeholder engagement techniques in the Information Phase.
SAVE International, VMF 1 Core Competency #3 (Value Methodology Job Plan), emphasizing methods like focus panels for gathering collective stakeholder input.

NEW QUESTION # 57
During the life cycle of a project or product, the greatest possibility to influence impacts and costs takes place during:

A. Operating
B. Organizing
C. Maintaining
D. Planning

Answer: D

Explanation:
Value Methodology emphasizes applying VM early in a project or product lifecycle to maximize its impact on costs and outcomes, as taught in the VMF 1 course (Core Competency #1: Value Methodology Overview).
According to SAVE International's Value Methodology Standard, "the greatest opportunity to influence a project's impacts and costs occurs during the planning phase, when decisions about design, scope, and requirements are made." Early intervention allows the VM team to optimize functions and reduce costs before they are locked in by detailed design or implementation. This principle is often illustrated by the "cost influence curve," which shows that the ability to influence costs decreases as the project progresses, while the cost to make changes increases.
* Option A (Operating) is incorrect because, during operation, most costs are already incurred, and changes are costly and limited in impact.
* Option B (Planning) is correct, as it is the phase where VM can most effectively influence design and cost decisions, per VM standards.
* Option C (Organizing) is incorrect because organizing is a management function, not a distinct lifecycle phase for applying VM.
* Option D (Maintaining) is incorrect because maintenance occurs late in the lifecycle, when cost influence is minimal.
:
SAVE International, "Value Methodology Standard and Body of Knowledge," available athttps://www.value- eng.org, emphasizing early application of VM in the planning phase.
SAVE International, VMF 1 Core Competency #1 (Value Methodology Overview), highlighting the cost influence curve and the importance of early VM intervention.

NEW QUESTION # 58
......

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