VMA Practice Exam Questions with Answers Value Methodology Associate Certification

The Value Methodology (VM) Job Plan consists of six phases, as outlined in the VMF 1 course (Core Competency #3: Value Methodology Job Plan). The phase dedicated to generating a large quantity of ideas or alternatives is the Creativity Phase (also known as the Creative Phase). According to SAVE International’s Value Methodology Standard, “the Creativity Phase is where a large quantity of ideas or alternatives is generated to accomplish the functions identified in the Function Analysis Phase, using techniques like brainstorming to encourage divergent thinking.” This phase focuses on producing as many ideas as possible without judgment, as established in Question 40, where the objective of the Creativity Phase was confirmed as generating improvement ideas.

Option A (Creativity Phase) is correct, as it is the phase dedicated to generating a large quantity of ideas to accomplish functions.

Option B (Presentation Phase) is incorrect because this phase involves presenting recommendations to stakeholders, not generating ideas.

Option C (Evaluation Phase) is incorrect because this phase involves assessing and selecting ideas, not generating them (as noted in Question 33).

Option D (Function Analysis Phase) is incorrect because this phase focuses on identifying and analyzing functions, not generating ideas (as noted in Question 37).

Value Methodology (VM) relies heavily on effective team dynamics to achieve optimal results, as emphasized in the VMF 1 course (Core Competency #5: Value Team Dynamics). According to SAVE International’s Value Methodology Standard, “the best VM study results are typically achieved with a multidisciplinary team with a selected set of skills, bringing diverse perspectives and expertise to analyze functions, generate ideas, and develop solutions.” A multidisciplinary team includes members from different disciplines (e.g., engineering, finance, design, operations) relevant to the project, ensuring a comprehensive understanding of the system and fostering innovative solutions through varied viewpoints. The VMF 1 course highlights that such teams are more effective at identifying value improvement opportunities because they combine technical, financial, and operational insights.

Option A (An executive-level task force) is incorrect because executives may lack the technical expertise needed for detailed function analysis and idea generation, though they may sponsor the study.

Option B (A team working in similar disciplines) is incorrect because a lack of diversity in perspectives can limit creativity and overlook key opportunities, which a multidisciplinary team avoids.

Option C (The current project team) is incorrect because the project team may be too close to the problem, potentially leading to bias and a narrower focus, whereas a multidisciplinary team brings fresh perspectives.

Option D (A multidisciplinary team with a selected set of skills) is correct, as it aligns with VM best practices for achieving the best study results.

The diagram provided is a Function Analysis System Technique (FAST) diagram, a key tool in Value Methodology’s Function Analysis phase, as taught in the VMF 1 course (Core Competency #2). FAST diagrams map the relationships between functions of a system, with specific directions indicating the logic of the functions:

The horizontal axis represents the “how-why” logic (critical path), where moving left answers “why” and moving right answers “how.”

The vertical axis represents the “when” direction, indicating functions that occur simultaneously or continuously while the critical path functions are performed (e.g., all-the-time functions, as noted in Question 27).

According to SAVE International’s Value Methodology Standard, “in a FAST diagram, the ‘when’ direction is shown by vertical relationships, indicating functions that are concurrent or supporting the critical path.” In the diagram:

The critical path (horizontal, marked by Y in Question 3) runs from E to F to G to J to L to M to N to O.

Scope lines are labeled B (left) and D (right), as identified in Question 30.

Vertical arrows (e.g., Z in Question 3, pointing to J-K) indicate the “when” direction, showing functions that occur simultaneously with the critical path functions.

Ais a horizontal line at the bottom of the diagram, but in FAST diagramming, the vertical axis (and its bounding lines) is associated with the “when” direction. The options (A, B, C, D) include A as the bottom horizontal line, which, in some FAST diagram interpretations, can be seen as marking the boundary of the “when” direction (vertical relationships).

C(noted in Question 30) is an arrow pointing left, representing the “why” direction, not “when.”

Given the options,Ais the closest representation of the “when” direction, as it aligns with the vertical axis’s boundary, which defines the space where “when” relationships (simultaneous functions) are shown. In standard FAST diagramming, the “when” direction is vertical, and A, as the bottom horizontal line, frames the vertical space where these relationships are depicted (e.g., S, T, U, K).

Option A (A) is correct, as it represents the boundary of the vertical axis, which is associated with the “when” direction in FAST diagrams.

Option B (B) is incorrect because B is a scope line (left vertical), which defines the study’s boundary, not the “when” direction.

Option C (C) is incorrect because C is an arrow indicating the “why” direction (left), not “when.”

Option D (D) is incorrect because D is the right scope line, not related to the “when” direction.

Cost analysis in Value Methodology often involves financial techniques 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 time value of money is essential in costing techniques that account for costs and benefits over time, such as Life Cycle Cost (LCC).”Life Cycle Costis defined as “the total cost of a system or product over its entire life, including acquisition, operation, maintenance, and disposal, discounted to present value using the time value of money.” The time value of money ensures that future costs and benefits are adjusted to their present value using a discount rate (as noted in Questions 6 and 7), making LCC a comprehensive method for comparing alternatives in VM studies.

Option A (Return on Investment) is incorrect because, while ROI can consider the time value of money in some calculations, it is not essential; ROI is often calculated as a simple percentage (Profit ÷ Investment).

Option B (Life Cycle Cost) is correct, as LCC inherently requires the time value of money to discount future costs to present value, ensuring a fair comparison over the project’s life.

Option C (Simple Payback) is incorrect because simple payback (as calculated in Question 26) does not account for the time value of money; it simply divides the initial investment by annual savings.

Option D (Break-even point) is incorrect because the break-even point (similar to payback) typically does not incorporate the time value of money; it focuses on the point where costs equal revenues.

The Value Methodology (VM) Job Plan is a structured, systematic process central to Value Methodology, as defined in the Value Methodology Fundamentals 1 (VMF 1) course and SAVE International’s Value Methodology Standard. According to these sources, the VM Job Plan consists ofsix phases: Information, Function Analysis, Creative, Evaluation, Development, and Presentation. These phases ensure a disciplined approach to analyzing functions, generating ideas, evaluating alternatives, and presenting value-enhancing recommendations.

Information Phase: Collect and analyze data on project scope, costs, constraints, and objectives to establish a baseline for the study.

Function Analysis Phase: Identify, classify, and analyze functions (e.g., basic, secondary) using tools like the Function Analysis System Technique (FAST) to understand their purpose and relationships.

Creative Phase: Generate a broad range of ideas to improve value through brainstorming or other creative techniques, focusing on alternative ways to perform functions.

Evaluation Phase: Assess the feasibility, cost impact, and benefits of ideas using criteria like performance, quality, and alignment with project goals.

Development Phase: Refine the most promising ideas into detailed, actionable proposals, including implementation plans and cost estimates.

Presentation Phase: Communicate recommendations to stakeholders through reports, presentations, or other deliverables to gain approval and facilitate implementation.

SAVE International’s VMF 1 course, which is a prerequisite for the VMA exam, explicitly teaches these six phases as part of Core Competency #3 (Value Methodology Job Plan). The standard is consistent across SAVE International’s documentation, including the Value Methodology Standard and certification guidelines. Options A (3), C (7), and D (8) do not match the official six-phase structure of the VM Job Plan.

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.

In Value Methodology’s Function Analysis, the concepts of functions and activities are distinct but related, as taught in the VMF 1 course (Core Competency #2: Function Analysis). According to SAVE International’s Value Methodology Standard, “a function is defined as what a product, process, or system does, expressed in a verb-noun format (e.g., ‘contain liquid’), while an activity is a task, action, or operation that describes how a function is performed.” For example, the function of a teacup might be “contain liquid,” and the activity to achieve that function could be “holding the liquid in a ceramic structure.” Activities are the actionable steps or processes that enable the function, often identified during the creation of a FAST diagram or Random Function Identification table (as noted in Question 19). The “how” aspect aligns with the How-Why logic of FAST diagrams, where activities detail the practical execution of a function.

Option A (A task, action, or operation that describes why a function is performed) is incorrect because “why” relates to the higher-order function or purpose (e.g., Question 20), not the activity, which focuses on “how.”

Option B (A specific task, action, or operation that is generic and changes viewpoints) is incorrect because activities are not about changing viewpoints; they are specific actions to perform a function.

Option C (A task, action, or operation that describes how a function is performed) is correct, as it aligns with the definition of an activity in VM.

Option D (A specific task, action, or operation with a high level of abstraction) is incorrect because activities are practical and specific, not abstract; functions are more abstract (e.g., verb-noun format).

Risk management is a critical aspect of Implementation Planning in Value Methodology (VM), ensuring that VM proposals are feasible and sustainable, as taught in the VMF 1 course (Core Competency #8: Implementation Planning). According to SAVE International’s Value Methodology Standard, risk management in the context of VM follows a standard process aligned with project management best practices, such as those in the Project Management Institute (PMI) framework, which VM adopts for implementation. The correct order of steps in risk management is:

Risk Management Planning: Define how risks will be managed, including methodologies, roles, and tools.

Risk Identification: Identify potential risks that could impact the VM study or its implementation (e.g., cost overruns, delays).

Risk Analysis: Analyze the likelihood and impact of identified risks (qualitative and quantitative analysis).

Risk Response Planning: Develop strategies to mitigate, avoid, transfer, or accept risks.

Risk Monitoring and Control: Monitor risks throughout implementation and control them as needed.

The VMF 1 course emphasizes this sequence in the Development and Presentation Phases, where risks associated with VM proposals are assessed and mitigated to ensure successful implementation. This order ensures a systematic approach, starting with planning, followed by identification and analysis, then response planning, and finally monitoring.

Option A (Risk Management Planning, Risk Analysis, Risk Identification, Risk Response Planning, Risk Monitoring and Control) is incorrect because Risk Identification must precede Risk Analysis— you cannot analyze risks before identifying them.

Option B (Risk Identification, Risk Management Planning, Risk Analysis, Risk Response Planning, Risk Monitoring and Control) is incorrect because Risk Management Planning must come first to establish the framework for the process.

Option C (Risk Management Planning, Risk Identification, Risk Analysis, Risk Response Planning, Risk Monitoring and Control) is correct, as it follows the standard risk management process.

Option D (Risk Management Planning, Risk Identification, Risk Response Planning, Risk Analysis, Risk Monitoring and Control) is incorrect because Risk Analysis must precede Risk Response Planning to inform the response strategies.

The Evaluation Phase of the Value Methodology (VM) Job Plan involves assessing ideas using a three-level filtering process, as taught in the VMF 1 course (Core Competency #7: Evaluation and Selection of Alternatives). According to SAVE International’s Value Methodology Standard, the three levels of filters are Coarse, Medium, and Fine (as confirmed in Question 33). The standard further specifies that “the Fine filter applies detailed evaluation techniques, such as an evaluation matrix, to select the best ideas for development by scoring them against weighted criteria.” An evaluation matrix (e.g., a weighted matrix, as noted in Question 11) is a tool where ideas are scored based on criteria like cost, performance, and risk, with weights reflecting their importance (as in Question 51). This detailed, quantitative approach is used in the Fine filter to make final selections after the Coarse (initial screening) and Medium (shortlisting) filters have narrowed down the ideas.

Option A (Fine) is correct, as the Fine filter uses an evaluation matrix technique for detailed idea selection.

Option B (Reasonable) is incorrect because “Reasonable” is not one of the three filter levels; the correct levels are Coarse, Medium, and Fine.

Option C (Medium) is incorrect because the Medium filter involves a more general assessment (e.g., comparing ideas against criteria), not the detailed matrix technique.

Option D (Coarse) is incorrect because the Coarse filter is for initial screening (eliminating unfeasible ideas), not detailed evaluation with a matrix.

The Information Phase of the Value Methodology (VM) Job Plan involves gathering and transforming data to understand the subject of the study, as taught in the VMF 1 course (Core Competency #3: Value Methodology Job Plan). According to SAVE International’s Value Methodology Standard, “key data for a product value study typically includes design objectives, cost estimates, drawings, specifications, and resource models, which are transformed to define functions, costs, and constraints.” These data types are essential for a product-focused study (as opposed to a process or construction project), enabling the VM team to:

Understand the product’s purpose (design objectives).

Analyze costs (original cost estimate, before optimization).

Review technical details (drawings, specifications).

Assess resource use (resource models).Customer demographics may provide context but are not core to transforming information for a product value study.

Option A (Flow diagrams, latest cost estimate, labor reports, drawings, site plan, regulatory requirements): This is more suited for a process or construction project (e.g., flow diagrams, site plan), not a product value study.

Option B (Customer requirements, overhead cost, competitive analysis, sample components, packaging requirements, warranty information): While customer requirements and sample components are relevant, competitive analysis, packaging, and warranty are secondary; overhead cost is too specific and not a core data type for transformation.

Option C (Design objectives, original cost estimate, drawings, specifications, resource models, customer demographics): This is correct, as it includes the core data types for a product value study (design objectives, cost estimate, drawings, specifications, resource models), though customer demographics are less critical but acceptable as context.

Option D (Customer demographics, overhead cost, drawings, competitive analysis, sample components, labor reports): This includes less relevant data (customer demographics, competitive analysis, labor reports) and misses key items like design objectives and specifications.

Option C (Design objectives, original cost estimate, drawings, specifications, resource models, customer demographics) is correct, as it best aligns with the key data needed for a product value study.

The Creativity Phase (also known as the Creative Phase) is the third phase of the Value Methodology (VM) Job Plan, as taught in the VMF 1 course (Core Competency #6: Creative Thinking and Idea Generation). According to SAVE International’s Value Methodology Standard, “the objective of the Creativity Phase is to generate a large quantity of improvement ideas through brainstorming and other creative techniques, focusing on alternative ways to perform the functions identified in the Function Analysis Phase.” This phase emphasizes divergent thinking to produce as many ideas as possible without judgment, as supported by the ground rules discussed in Question 10 (e.g., encouraging openness, freewheeling, and recording ideas). The generated ideas are then evaluated in the next phase (Evaluation Phase).

Option A (Develop improvement ideas) is incorrect because development occurs in the Development Phase, where selected ideas are refined into actionable proposals, not in the Creativity Phase.

Option B (Select improvement ideas) is incorrect because selection occurs in the Evaluation Phase, not Creativity.

Option C (Prioritize improvement ideas) is incorrect because prioritization also occurs in the Evaluation Phase (as noted in Question 33 with the coarse-medium-fine filters).

Option D (Generate improvement ideas) is correct, as it matches the primary objective of the Creativity Phase in the VM Job Plan.

The diagram provided is a Function Analysis System Technique (FAST) diagram, a key tool in Value Methodology’s Function Analysis phase, as taught in the VMF 1 course (Core Competency #2). FAST diagrams map the relationships between functions of a system, with the horizontal axis showing the “how-why” logic (critical path) and the vertical axis showing supporting functions. The vertical demarcations on the left and right of a FAST diagram are calledscope lines, which define the boundaries of the study. According to SAVE International’s Value Methodology Standard, “scope lines indicate the limits of the system or project being analyzed, separating the functions within the study’s scope from external functions or assumptions.” This was previously established in Question 15, where scope lines were identified as the correct term for these vertical demarcations.

In the FAST diagram:

The dashed vertical lines on the left and right are labeledB(left) andD(right). These lines define the scope of the study, with functions inside the lines (e.g., E, F, G, J, L, M, N, O) being within the study’s focus, while functions outside (e.g., P, Q, R) are external assumptions or higher-level objectives.

Ais a horizontal line at the bottom, representing the boundary of the diagram but not the scope lines.

Cis an arrow indicating the direction of the “why” axis (left), not a scope line.

Since the question asks for the letter that “represents the scope lines,” and both B and D are scope lines, the correct answer must be one of these. However, the options only allow for one letter to be selected, and in FAST diagramming convention, the left scope line (B) is often emphasized as the primary boundary for defining the study’s starting point (e.g., the higher-order function E, as identified in Question 18). Thus,Bis the most appropriate choice among the options provided.

Option A (A) is incorrect because A is a horizontal line, not a vertical scope line.

Option B (B) is correct, as B is the left vertical scope line, marking the boundary of the study’s scope.

Option C (C) is incorrect because C is an arrow, not a scope line.

Option D (D) is also a scope line (the right boundary), but since only one letter can be selected and B is the left scope line (often the primary focus in FAST diagramming), B is chosen. If the question intended to allow both B and D, the phrasing would need adjustment.

In Value Methodology’s Function Analysis, functions are classified based on their role in the system, as taught in the VMF 1 course (Core Competency #2). According to SAVE International’s Value Methodology Standard, thehigher-order function“represents the specific goals or needs for which the subject scope exists—it answers ‘why’ the system or project is needed.” In a FAST diagram, the higher-order function is located to the left of the basic function, just inside the left scope line, as seen in Question 18 (Function E). It defines the overarching objective or customer need that justifies the existence of the system (e.g., for a car, the higher-order function might be “provide mobility,” while the basic function is “transport passengers”).

Option A (Basic) is incorrect because the basic function is the primary purpose of the system within the scope (e.g., “transport passengers”), not the overarching goal.

Option B (Lower Order) is incorrect because “lower-order” is not a standard term in VM; it may refer to functions to the right of the basic function, which are more specific, not goal-oriented.

Option C (Higher Order) is correct, as it represents the specific goals or needs for which the subject scope exists, per VM standards.

Option D (Secondary) is incorrect because secondary functions support the basic function and do not represent the overarching goals.