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SAVE International VMA Exam Syllabus Topics:

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

                              SAVE International Value Methodology Associate Sample Questions:

                              Question 1

                              What is the correct sequence of the last four phases of the Value Methodology Job Plan?

                              A. Development, Presentation, Evaluation, and Implementation
                              B. Evaluation, Development, Implementation, and Presentation
                              C. Development, Evaluation, Presentation, and Implementation
                              D. Evaluation, Development, Presentation, and Implementation


                              Question 2

                              In which phase does one work to obtain a thorough understanding of the subject of the VM study?

                              A. Information Phase
                              B. Creativity Phase
                              C. Presentation Phase
                              D. Evaluation Phase


                              Question 3

                              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. Discount Rate
                              C. Return on Investment (ROI)
                              D. Present Worth (or Net Present Value)


                              Question 4

                              One of the main purposes of the Miles Value Foundation is to:

                              A. Promote VM education
                              B. Improve VM programs
                              C. Conduct VM training
                              D. Manage VM certification


                              Question 5

                              Which of the following techniques involves capturing input from multiple customers and stakeholders at the same time?

                              A. Questionnaires
                              B. Interviews
                              C. Surveys
                              D. Focus panels


                              Solutions:

                              Question 1
                              Answer: D
                              Question 2
                              Answer: A
                              Question 3
                              Answer: D
                              Question 4
                              Answer: A
                              Question 5
                              Answer: D

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