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SAVE International VMA Exam Syllabus Topics:

SectionObjectives
Value Methodology Fundamentals- VM Job Plan Basics
  • 1. Creative Phase Concepts
    • 2. Evaluation Phase
      • 3. Information Phase
        • 4. Function Analysis Phase
          - Core Value Methodology Concepts
          • 1. Value Types (Use, Exchange, Cost, Esteem)
            • 2. Function Analysis System Technique (FAST)
              • 3. Life Cycle Costing Basics
                Value Engineering Principles- Evaluation and Selection
                • 1. Idea Screening
                  • 2. Cost-Function Analysis
                    - Team-Based Workshop Approach
                    • 1. Brainstorming Techniques
                      • 2. Multidisciplinary Team Collaboration
                        Financial and Analytical Tools- Cost Analysis Methods
                        • 1. Break-even Analysis
                          • 2. Net Present Value (NPV)
                            • 3. Return on Investment (ROI)

                              SAVE International Value Methodology Associate Sample Questions:

                              1. How many phases are in the VM Job Plan?

                              A) 6
                              B) 8
                              C) 7
                              D) 3


                              2. Which function is located to the left of the left vertical line in a FAST diagram?

                              A) Lower Order Function
                              B) Secondary Function
                              C) Higher Order Function
                              D) Basic Function


                              3. Y is pointing to the

                              A) Critical Logic Path
                              B) Minor Logic Path
                              C) "OR" Gate
                              D) "AND" Gate


                              4. Which of the following best defines an activity?

                              A) A specific task, action, or operation that is generic and changes viewpoints
                              B) A task, action, or operation that describes how a function is performed
                              C) A specific task, action, or operation with a high level of abstraction
                              D) A task, action, or operation that describes why a function is performed


                              5. 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


                              Solutions:

                              Question # 1
                              Answer: A
                              Question # 2
                              Answer: C
                              Question # 3
                              Answer: A
                              Question # 4
                              Answer: B
                              Question # 5
                              Answer: B

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