REALISTIC VMA TRUSTED EXAM RESOURCE - WIN YOUR SAVE INTERNATIONAL CERTIFICATE WITH TOP SCORE

Realistic VMA Trusted Exam Resource - Win Your SAVE International Certificate with Top Score

Realistic VMA Trusted Exam Resource - Win Your SAVE International Certificate with Top Score

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SAVE International Value Methodology Associate Sample Questions (Q35-Q40):

NEW QUESTION # 35
If an organization invests $160,000 in a new software system that improves analysis and reduces annual costs by $3,000 per year, the payback period would be approximately:

  • A. 45 years
  • B. 53 years
  • C. 50 years
  • D. 56 years

Answer: B

Explanation:
In Value Methodology, cost analysis often involves financial metrics like the payback period to evaluate the economic feasibility of alternatives, as taught in the VMF 1 course (Core Competency #4: Cost Analysis).
According to SAVE International's Value Methodology Standard, the payback period is "the time required for the cumulative savings or benefits from an investment to equal the initial cost, calculated as Initial Investment ÷ Annual Savings." Here, the organization invests $160,000 in a software system that saves
$3,000 per year.
* Payback Period = Initial Investment ÷ Annual Savings
* Payback Period = $160,000 ÷ $3,000 = 53.333 years
* Rounding to the nearest whole number, the payback period is approximately 53 years.
The question does not specify adjustments for the time value of money (e.g., discounting), which aligns with the simple payback method commonly used in VM for straightforward analysis.
* Option A (45 years) is incorrect because 160,000 ÷ 3,000 = 53.333, not 45.
* Option B (50 years) is incorrect because it underestimates the payback period (53.333 years).
* Option C (53 years) is correct, as it matches the calculated payback period when rounded.
* Option D (56 years) is incorrect because it overestimates the payback period.
:
SAVE International, VMF 1 Core Competency #4 (Cost Analysis), which includes calculating payback periods for economic evaluation in VM studies.
SAVE International, "Value Methodology Standard," section on cost analysis, referencing the simple payback method for assessing alternatives.


NEW QUESTION # 36
Functions on a FAST diagram's function logic path follow:

  • A. How-Why logic
  • B. When-Why logic
  • C. How-When logic
  • D. And-Or logic

Answer: A

Explanation:
The Function Analysis System Technique (FAST) diagram is a key tool in Value Methodology's Function Analysis phase, as taught in the VMF 1 course (Core Competency #2). The function logic path in a FAST diagram is the horizontal sequence of functions, often referred to as the critical path (as identified in Question
3 with arrow Y). According to SAVE International's Value Methodology Standard, "the function logic path in a FAST diagram follows a How-Why logic: moving to the right answers 'how' a function is performed, and moving to the left answers 'why' a function exists." This logic helps trace the relationships between functions, starting from the higher-order function (e.g., Function E, as noted in Question 18) on the left to more specific functions on the right (e.g., Function O).
* How: Moving right along the path (e.g., from E to F to G) explains how the preceding function is achieved.
* Why: Moving left (e.g., from O to N to M) explains why the succeeding function is needed.
In the diagram, the critical path (E-F-G-J-L-M-N-O) follows this How-Why logic, as confirmed in earlier questions (e.g., Question 3). The "when" direction (vertical, as noted in Question 36) and "and-or" logic (used at junctions for concurrent or alternative functions) are not the primary logic of the function logic path.
* Option A (When-Why logic) is incorrect because the "when" direction is vertical, indicating simultaneous functions, not the horizontal logic path.
* Option B (How-Why logic) is correct, as it matches the standard logic of the function logic path in a FAST diagram.
* Option C (How-When logic) is incorrect because the "when" direction does not apply to the horizontal logic path.
* Option D (And-Or logic) is incorrect because "and-or" logic applies to junctions (e.g., gates for concurrent or alternative functions), not the main logic path.
:
SAVE International, VMF 1 Core Competency #2 (Function Analysis), defining the How-Why logic of the function logic path in FAST diagrams.
SAVE International, "Value Methodology Standard," section on Function Analysis, describing FAST diagramming conventions, including the How-Why logic of the critical path.


NEW QUESTION # 37
During the life cycle of a project or product, the greatest possibility to influence impacts and costs takes place during:

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

Answer: A

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 # 38
Which of the following is a basic function of a bicycle?

  • A. Move People
  • B. Provide Transportation
  • C. Transport Goods
  • D. Transport Mass

Answer: B

Explanation:
Function Analysis in Value Methodology involves identifying and classifying functions using verb-noun combinations, as taught in the VMF 1 course (Core Competency #2). The basic function of an item is its primary purpose-what it must do to fulfill its intended use. For a bicycle, the basic function is the most general and essential action it performs. According to SAVE International's Value Methodology Standard, functions should be defined in broad, measurable terms (e.g., verb-noun format) to capture the core purpose.
The basic function of a bicycle is to "provide transportation," as this encompasses its primary role of enabling movement for people or goods.
* Option A (Transport Mass) is incorrect because "mass" is too vague and not specific to the bicycle's purpose; it could apply to any object being moved.
* Option B (Move People) is incorrect because, while a bicycle often moves people, this is a secondary function-bicycles can also transport goods (e.g., in cargo bikes), so it's not the most fundamental function.
* Option C (Provide Transportation) is correct because it captures the bicycle's primary purpose in the broadest sense, covering both people and goods, aligning with VM's focus on defining basic functions at a high level.
* Option D (Transport Goods) is incorrect because transporting goods is a specific use case, not the bicycle's primary function, which is broader.
:
SAVE International, VMF 1 Core Competency #2 (Function Analysis), which includes defining basic functions using verb-noun combinations.
SAVE International, "Value Methodology Standard," section on Function Analysis, emphasizing the identification of basic functions as the core purpose of an item.


NEW QUESTION # 39
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. Mitigate
  • C. Share
  • D. Enhance

Answer: D

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 # 40
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