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| Section | Weight | Objectives |
|---|---|---|
| Tools and Techniques | 25% | - Cost analysis and worth assessment - Team dynamics and facilitation - Decision-making and prioritization |
| Value Methodology Fundamentals | 20% | - Historical background and standards - Core principles and terminology - Definition, purpose and benefits of Value Methodology |
| Application and Ethics | 15% | - Professional ethics and standards of practice - Application in projects, products and processes |
| VM Job Plan | 40% | - Information Phase - Presentation Phase - Development Phase - Evaluation Phase - Creative Phase - Function Analysis Phase
|
1. In which phase does one work to obtain a thorough understanding of the subject of the VM study?
A) Creativity Phase
B) Evaluation Phase
C) Information Phase
D) Presentation Phase
2. All-the-time functions are:
A) Undesirable
B) Outside the study scope
C) A drain on resources
D) Continuous
3. 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
4. Which phase of the VM Job Plan is considered the heart of the Value Methodology?
A) Creativity
B) Implementation
C) Function Analysis
D) Presentation
5. In which costing technique is the time value of money essential?
A) Life Cycle Cost
B) Return on Investment
C) Simple Payback
D) Break-even point
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: A |
Certified Value Specialist
Value Methodology Associate
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