Value Analysis
Abstract
Value Analysis is a systematic tool which can be used to improve the value of a product or process by analyzing its constituent components and the associated costs[1]. The overall objective is to find improvements to the components by reducing their cost and/or increasing the value of the functions.
This article will describe each step required to perform a Value Analysis as well as suggesting tools that can be used during each step. The Article can be used as a template when performing a Value Analysis.