The correct answer is B. Thorough understanding of the study subject . The Information Phase is designed to ensure that the VM study team understands the project, product, process, or service before performing function analysis or generating alternatives. SAVE’s Value Methodology Standard states that the objective of the Information Phase is to complete the value study data package started during Pre-Study, receive briefings from the project sponsor or designer, ask questions, complete site visitation where needed, confirm improvement targets, and review the scope statement for adjustment.

Therefore, the expected output is not yet a proposal or a final value recommendation; it is a reliable, shared understanding of the study subject, including baseline requirements, constraints, costs, performance expectations, schedule factors, and stakeholder objectives. Option A is more closely related to the Function Analysis Phase , where cost-to-worth comparison identifies value improvement opportunities. Option C is also Function Analysis, because functions are defined after the team understands the subject. Option D belongs to the Development/Presentation Phases , where selected ideas become formal value improvement proposals.

References/topics: Information Phase; VM Job Plan; Study Subject Understanding; Data Package; Scope Review.