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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: VM Job Plan | 40% | - Development Phase - Evaluation Phase - Creative Phase - Presentation Phase - Information Phase - Function Analysis Phase
|
| Topic 3: Tools and Techniques | 25% | - Cost analysis and worth assessment - Team dynamics and facilitation - Decision-making and prioritization |
| Topic 4: Application and Ethics | 15% | - Professional ethics and standards of practice - Application in projects, products and processes |
SAVE International Value Methodology Associate Sample Questions:
1. Which of the following best defines an activity?
A) A task, action, or operation that describes how a function is performed
B) A specific task, action, or operation that is generic and changes viewpoints
C) A task, action, or operation that describes why a function is performed
D) A specific task, action, or operation with a high level of abstraction
2. What is the objective of the Creativity Phase?
A) Select improvement ideas
B) Develop improvement ideas
C) Prioritize improvement ideas
D) Generate improvement ideas
3. Which of the following defines the nominal rate of increase in the value of money over time, after subtracting for inflation?
A) Discount Rate
B) Present Worth (or Net Present Value)
C) Return on Investment (ROI)
D) Simple Payback (or Breakeven Point)
4. How many phases are in the VM Job Plan?
A) 3
B) 8
C) 7
D) 6
5. What is the correct order for the three levels of filters used for evaluating ideas during the Evaluation Phase?
A) Coarse, Medium, Fine
B) Coarse, Fine, Medium
C) Medium, Coarse, Fine
D) Medium, Fine, Coarse
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: D | Question # 5 Answer: A |
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