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SAVE International VMA Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Value Methodology Fundamentals | 20% | - Historical background and standards - Core principles and terminology - Definition, purpose and benefits of Value Methodology |
| Topic 2: Application and Ethics | 15% | - Professional ethics and standards of practice - Application in projects, products and processes |
| Topic 3: VM Job Plan | 40% | - Creative Phase - Function Analysis Phase
- Evaluation Phase - Information Phase - Presentation Phase |
| Topic 4: Tools and Techniques | 25% | - Decision-making and prioritization - Team dynamics and facilitation - Cost analysis and worth assessment |
SAVE International Value Methodology Associate Sample Questions:
1. Which are the three main characteristics of the Value Methodology?
A) Systematic process, function analysis, CVS
B) Function Analysis, brainstorming, teamwork
C) Systematic process, multidisciplinary team, qualified VM facilitator
D) Multidisciplinary team, cost reduction, function improvement
2. When transforming the VM study subject's cost information, the potential for achieving major savings is:
A) Improved when costs are aligned with scope increases
B) Enhanced when outputs are included in calculations
C) Increased when the VM proposals improve performance
D) Greatest during the early phases of the project lifecycle
3. Which of the following defines the nominal rate of increase in the value of money over time, after subtracting for inflation?
A) Simple Payback (or Breakeven Point)
B) Present Worth (or Net Present Value)
C) Discount Rate
D) Return on Investment (ROI)
4. Which of the following are tasks during the development of VM proposals? (Choose 3 answers)
A) Determine costs
B) Validate the proposal
C) Address technical feasibility
D) Assess time and schedule impacts
E) State the disposition of the proposal
5. Which of the following defines the effects of time, value, and money, converting all costs to a common reference point in today's dollars?
A) Simple Payback (or Breakeven Point)
B) Present Worth (or Net Present Value)
C) Discount Rate
D) Return on Investment (ROI)
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: A,C,D | Question # 5 Answer: B |
