Last Updated: Aug 06, 2026
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| Section | Weight | Objectives |
|---|---|---|
| Value Methodology Fundamentals | 20% | - Core principles and terminology - Definition, purpose and benefits of Value Methodology - Historical background and standards |
| VM Job Plan | 40% | - Development Phase - Information Phase - Presentation Phase - Creative Phase - Evaluation Phase - Function Analysis Phase
|
| Application and Ethics | 15% | - Application in projects, products and processes - Professional ethics and standards of practice |
| Tools and Techniques | 25% | - Team dynamics and facilitation - Decision-making and prioritization - Cost analysis and worth assessment |
1. The original VM Job Plan was based on a problem-solving approach. Which is the correct order of the four steps comprising this approach?
A) Observation, Experimentation, Hypothesis, Conclusion
B) Hypothesis, Observation, Experimentation, Conclusion
C) Hypothesis, Experimentation, Observation, Conclusion
D) Observation, Hypothesis, Experimentation, Conclusion
2. Which of the following best describes a VM study?
A) Is considered a business improvement best practice
B) Is undertaken after the design is completed
C) Must be led by a Certified Value Specialist
D) It is a structured effort using the VM process to improve value
3. Which of the following is the risk response strategy for opportunities that seek to increase the probability of an opportunity occurring and/or the magnitude of results being beneficial?
A) Exploit
B) Share
C) Mitigate
D) Enhance
4. Which of the following is most relevant to the Evaluation Phase?
A) Cost Model
B) Return on Investment
C) Constraints
D) Weighting
5. During the life cycle of a project or product, the greatest possibility to influence impacts and costs takes place during:
A) Planning
B) Operating
C) Maintaining
D) Organizing
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: A |
Hunter
Len
Murphy
Ives
Lionel
Nicholas
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