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SAVE International VMA Exam Syllabus Topics:

Section

Objectives

Topic 1: Value Methodology Fundamentals

- VM Job Plan Basics

1. Information Phase
2. Evaluation Phase
3. Creative Phase Concepts
4. Function Analysis Phase

- Core Value Methodology Concepts

1. Life Cycle Costing Basics
2. Value Types (Use, Exchange, Cost, Esteem)
3. Function Analysis System Technique (FAST)

Topic 2: Value Engineering Principles

- Team-Based Workshop Approach

1. Brainstorming Techniques
2. Multidisciplinary Team Collaboration

- Evaluation and Selection

1. Cost-Function Analysis
2. Idea Screening

Topic 3: Financial and Analytical Tools

- Cost Analysis Methods

1. Break-even Analysis
2. Return on Investment (ROI)
3. Net Present Value (NPV)

SAVE International Value Methodology Associate Sample Questions:

1. Which of the following letters represents the scope lines?

A) C
B) B
C) D
D) A

2. Identify which are key data used to transform information for a product value study:

A) Customer demographics, overhead cost, drawings, competitive analysis, sample components, labor reports
B) Customer requirements, overhead cost, competitive analysis, sample components, packaging requirements, warranty information
C) Design objectives, original cost estimate, drawings, specifications, resource models, customer demographics
D) Flow diagrams, latest cost estimate, labor reports, drawings, site plan, regulatory requirements

3. Risks associated with a project, product, or process typically impact:

A) Time, function, or attributes
B) Schedule, cost, or performance
C) Cost, requirements, or results
D) Resources, regulations, or time

4. 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

5. "When" is represented by which of the following letters?