VMA Sample Questions Answers

Random Function Identification is a technique used in Value Methodology’s Function Analysis phase to identify and organize functions before creating a Function Analysis System Technique (FAST) diagram, as taught in the VMF 1 course (Core Competency #2). According to SAVE International’s Value Methodology Standard, Random Function Identification involves “listing all functions of a system or project in a table, typically including the elements (components or parts), their associated functions (in verb-noun format), and their classifications (e.g., basic, secondary, higher-order).” This table helps the VM team systematically identify and categorize functions during the early stages of analysis, ensuring all functions are captured before structuring them in a FAST diagram.

Option A (Inputs, objectives, and sequence) is incorrect because inputs and objectives are part of the Information Phase, and sequence is addressed in FAST diagramming, not in the Random Function Identification table.

Option B (Costs, time, and risks) is incorrect because these are related to cost analysis or implementation planning, not function identification.

Option C (Elements, functions, and classifications) is correct, as it aligns with the purpose of the Random Function Identification table in VM.

Option D (Components, resources, and criteria) is incorrect because resources and criteria are not part of function identification; criteria are used in the Evaluation Phase.

Function Analysis in Value Methodology involves identifying and classifying functions using verb-noun combinations, as taught in the VMF 1 course (Core Competency #2). The basic function of an item is its primary purpose—what it must do to fulfill its intended use, defined in broad, measurable terms. According to SAVE International’s Value Methodology Standard, “functions should be expressed at a level that captures the core purpose of the item, avoiding overly specific or secondary actions.” For a teacup, the basic function is the most fundamental action it performs. A teacup’s primary purpose is tocontain liquid, as this captures the essential role of holding a liquid (e.g., tea, water, or any beverage), which applies to all teacups regardless of the specific liquid or use.

Option A (Provide container) is incorrect because “provide container” is not a standard verb-noun function format and is too vague; the teacup itself is the container, and the function is what it does (contain liquid).

Option B (Allow drinking) is incorrect because allowing drinking is a secondary function or outcome; the teacup must first contain liquid before drinking can occur, and not all uses involve drinking (e.g., holding liquid for soaking).

Option C (Contain tea) is incorrect because, while a teacup often contains tea, this is too specific; a teacup can hold other liquids (e.g., coffee, water), so the basic function is broader.

Option D (Contain liquid) is correct, as it defines the basic function of a teacup in the most fundamental terms, encompassing all potential uses, similar to how a pen’s function was defined as “mark surface” in Question 38.

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).

A Value Methodology (VM) study is a structured effort that applies the VM process to improve the value of a project, product, or process by optimizing the function-to-cost ratio. According to SAVE International’s Value Methodology Standard, a VM study is defined as “a systematic application of recognized techniques by a multi-disciplined team to identify the functions of a project or process, establish a worth for each function, and develop alternatives to achieve those functions at the lowest overall cost while maintaining performance.” The VMF 1 course emphasizes that a VM study follows the six-phase VM Job Plan (Information, Function Analysis, Creative, Evaluation, Development, and Presentation) to systematically improve value, making it a structured effort.

Option A (structured effort using the VM process) directly aligns with SAVE International’s definition of a VM study, focusing on the systematic application of the VM process to enhance value.

Option B (must be led by a Certified Value Specialist) is incorrect because, while a Certified Value Specialist (CVS) often leads VM studies, the VMF 1 course and VMA certification allow non-CVS team members to participate in and contribute to VM studies under guidance, meaning it’s not a requirement.

Option C (undertaken after the design is completed) is incorrect because VM studies can be conducted at various stages of a project lifecycle—concept, design, or implementation—not only after the design is completed. The VMF 1 course highlights that early application of VM yields the greatest benefits.

Option D (business improvement best practice) is a broader statement and not specific to the definition of a VM study, though VM can contribute to business improvements. It does not best describe a VM study compared to Option A.

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).

Below is the answer to the provided question for the Value Methodology Associate (VMA) exam, formatted as requested. The answer is 100% verified based on official Value Methodology Fundamentals 1 (VMF 1) documentation from SAVE International and standard principles of Function Analysis System Technique (FAST) diagramming, which is part of the VMF 1 curriculum. Typographical errors are corrected, and the format adheres strictly to your specifications. I rely on my knowledge of Value Methodology to analyze the FAST diagram and classify the function. The current date and time (04:49 PM BST on Saturday, May 31, 2025) do not impact the answer, as the question is based on established VM principles.

The Pareto Principle, often referred to as the 80/20 rule, is a concept used in Value Methodology to focus efforts on the most impactful areas during cost analysis. In the context of VM, as taught in the VMF 1 course (Core Competency #4: Cost Analysis), the Pareto Principle is applied to identify high-cost areas that offer the greatest potential for value improvement. According to SAVE International’s Value Methodology Standard, “the Pareto Principle in VM states that approximately 20% of the elements (components, functions, or items) typically account for 80% of the total cost.” This allows the VM team to prioritize their efforts on the small number of elements that drive the majority of the cost, thereby maximizing value improvement (function/cost). For example, in a project, a few components (like a specialized motor in a machine) might represent the bulk of the cost, and optimizing those components can yield significant savings.

Option A (20% of risks impact 80% of elements) is incorrect because the Pareto Principle in VM focuses on cost distribution, not risk impact.

Option B (20% of elements represent 80% of the cost) is correct, as it directly aligns with the application of the Pareto Principle in VM cost analysis.

Option C (80% of functions represent 20% of components) is incorrect because it reverses the principle and does not reflect the cost-focused application in VM.

Option D (80% of the whole includes 20% of the resources) is incorrect because it misapplies the principle and is too vague for VM’s specific use of Pareto in cost analysis.

Value Methodology (VM) is defined by SAVE International in its Value Methodology Standard as “asystematic processthat uses a structured Job Plan to improve the value of projects, products, or processes by analyzing their functions and identifying opportunities to achieve required functions at the lowest total cost without compromising quality or performance.” The term “systematic” emphasizes the methodical, disciplined approach of VM, which follows a defined sequence of phases (the VM Job Plan) and uses specific tools like Function Analysis and cost modeling to ensure consistency and effectiveness.

Option A (Structured process) is partially correct, as VM is structured, but “systematic” is the precise term used by SAVE International to describe the methodology’s comprehensive and methodical nature.

Option B (Specialized process) is incorrect because VM is a general methodology applicable across industries, not limited to a specific domain.

Option C (Systematic process) is correct, directly matching SAVE International’s definition of VM.

Option D (Sequential process) is incorrect because, while the VM Job Plan is sequential, the definition of VM focuses on its systematic nature, not just the sequence.

The Function Analysis System Technique (FAST) diagram is 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, 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, as they 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.” In the FAST diagram provided earlier, these lines are the dashed vertical lines labeled B and D, marking the boundaries of the study’s focus.

Option A (Subject Lines) is incorrect because this term is not used in FAST diagramming.

Option B (Scope Lines) is correct, as it matches the official terminology for the vertical demarcations in a FAST diagram.

Option C (When Direction Lines) is incorrect because the “when” direction refers to vertical connections within the diagram (simultaneous functions), not the boundary lines.

Option D (Function Logic Lines) is incorrect because function logic refers to the arrows connecting functions, not the boundary demarcations.

Function Analysis in Value Methodology involves identifying and classifying functions using verb-noun combinations, as taught in the VMF 1 course (Core Competency #2). The basic function of an item is its primary purpose—what it must do to fulfill its intended use. For a bicycle, the basic function is the most general and essential action it performs. According to SAVE International’s Value Methodology Standard, functions should be defined in broad, measurable terms (e.g., verb-noun format) to capture the core purpose. The basic function of a bicycle is to “provide transportation,” as this encompasses its primary role of enabling movement for people or goods.

Option A (Transport Mass) is incorrect because “mass” is too vague and not specific to the bicycle’s purpose; it could apply to any object being moved.

Option B (Move People) is incorrect because, while a bicycle often moves people, this is a secondary function—bicycles can also transport goods (e.g., in cargo bikes), so it’s not the most fundamental function.

Option C (Provide Transportation) is correct because it captures the bicycle’s primary purpose in the broadest sense, covering both people and goods, aligning with VM’s focus on defining basic functions at a high level.

Option D (Transport Goods) is incorrect because transporting goods is a specific use case, not the bicycle’s primary function, which is broader.

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.

Value Methodology (VM) is a versatile methodology, as taught in the VMF 1 course (Core Competency #1: Value Methodology Overview). According to SAVE International’s Value Methodology Standard, “the unique aspect of the Value Methodology is its focus on function analysis, making it applicable to anything that performs a function—whether a product, process, system, or service.” VM’s core principle is to improve value (function/cost) by analyzing what something does (its functions) and finding better ways to achieve those functions at lower cost without sacrificing performance. This focus on functions (e.g., “mark surface” for a pen, Question 38; “contain liquid” for a teacup, Question 44) allows VM to be applied universally to anything with a definable function, distinguishing it from other methodologies like Lean or Six Sigma, which focus on process efficiency or quality.

Option A (includes an activity) is incorrect because, while activities describe how functions are performed, VM’s unique aspect is its focus on functions, not activities.

Option B (performs a function) is correct, as VM’s defining feature is its application to anything with a function, per SAVE International’s standards.

Option C (is goal-oriented) is incorrect because many methodologies are goal-oriented; VM’s uniqueness lies in its function-based approach.

Option D (is a subject of study) is incorrect because being a subject of study is too broad; VM specifically targets subjects that perform functions.

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. FAST diagrams map the relationships between functions of a system, showing “how” and “why” relationships to identify the critical logic path (the primary sequence of functions that achieve the system’s basic function) and minor logic paths (supporting functions). In FAST diagramming, functions are represented by boxes (e.g., G, H, J, K), and their relationships are shown with arrows.

Yis a red arrow connecting function G to function J, running horizontally across the diagram. In FAST diagrams, the horizontal path from left to right represents thecritical logic path, which answers the question “how” each function is achieved to fulfill the system’s primary purpose. Here, the path from E to F to G to J to L to M to N to O is the main sequence of functions, indicating the critical logic path.

Z(another red arrow) points to a vertical connection between J and K, which represents a minor logic path—supporting functions that occur simultaneously or are secondary to the main path.

Option A ("AND" Gate) and Option D ("OR" Gate) are incorrect because FAST diagrams use logic gates to show relationships between functions (e.g., AND for concurrent functions, OR for alternatives), but Y is an arrow on the main path, not a gate. Gates are typically symbols (e.g., triangles or diamonds) at junctions, not arrows.

Option B (Minor Logic Path) is incorrect because minor logic paths are vertical connections in FAST diagrams (e.g., Z pointing to J-K), not the horizontal path that Y indicates.

Option C (Critical Logic Path) is correct because Y lies on the main horizontal path, which represents the critical sequence of functions in a FAST diagram.

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.

In the context of Value Methodology, cost analysis often involves financial concepts to evaluate the economic impact of alternatives, including understanding the time value of money. The VMF 1 course, under Core Competency #4 (Cost Analysis), includes basic financial metrics relevant to value studies, such as discounting cash flows to assess long-term value. The nominal rate of increase in the value of money over time, after subtracting for inflation, refers to thereal discount rate. In financial terms, as per standard economic principles taught in VMF 1, the discount rate is the rate used to discount future cash flows to their present value, and thereal discount rateis the nominal discount rate adjusted for inflation (i.e., real discount rate = nominal discount rate − inflation rate). This measures the true increase in the value of money over time, excluding inflationary effects.

Option A (Simple Payback or Breakeven Point) is incorrect because payback measures the time required to recover an investment, not the rate of increase in money’s value.

Option B (Return on Investment or ROI) is incorrect because ROI measures the profitability of an investment as a percentage, not the rate of increase in money’s value over time.

Option C (Discount Rate) is correct because the real discount rate, after subtracting inflation, defines the nominal rate of increase in the value of money over time, as used in financial analyses within VM studies.

Option D (Present Worth or Net Present Value) is incorrect because NPV is the result of discounting future cash flows to their present value using a discount rate, not the rate itself.