Value: Value is a personal perspective that represents the willingness to pay for the performance delivered by a product, process or project. Good value is achieved when the necessary performance can be accurately defined and delivered at the lowest life cycle cost. Value is not absolute; it is a measure of the relationship between client or customer satisfaction and the resources required.
Function: A function is the purpose that a product, project or process is expected to perform. Function allows the definition of each task in a process or one of its activities in terms of end goals and not solutions. A function is described by an active verb and a measurable noun. As an example, the function of this web page is to “inform reader”.
Function Analysis: Function analysis is a process that describes the functions of a product (or process) and then establishes their relationships, their characterization, classification and evaluation. A function model is drawn to present the results of the analysis and provide a common understanding of the situation.
Value Analysis: Value Analysis uses a combination of creative and analytical techniques to identify alternative ways to achieve objectives. The use of Function Analysis differentiates Value Analysis from other problem solving approaches.
Cost: Encumbrance or expenditure economically justified by production or resource utilization (product, service or combination of the two). Costs attributable to a function or an activity represent the total necessary or approved expenditures for the realization of a function.
Functional Performance Specification (FPS): A document that describes user needs in terms of functional performance without reference to a specific solution. It specifies the evaluation criteria, levels and tolerance to various functions, which are acceptable to the user. This encourages constructive dialogue with the client and enables the provider to express greater creativity in the delivery of solutions. The FPS can be used in a wide range of situations. For more information refer to European Standard EN 12973:2000.
Value Analysis Team: A multi-disciplinary group representing different perspectives and skills and concerned about the object of the analysis. Team members may include stakeholders, technical specialists, owner, users and specialists.
Decision-maker: Person who ultimately decides on a team's recommendations.
Facilitator: Value Analysis team leader who manages and facilitates the workshop or job plan.
Certified Value Specialist (CVS): A facilitator or Value Analysis Team Leader who is Certified by SAVE International. A CVS is the highest level of certification.
| Phase 1 | Organization | - Objective and causes - Problem data - Economic risk - Subjects and constraints |
- Objectives - Constraints - Means - Participants |
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| Phase 2 | Information gathering | - Stock taking - Formulation - Information diffusion - Users, Market survey |
Information, technical, industrial, economic, commercial, social, regulatory |
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| Phase 3 | Analysis of functions and costs | - Functional analysis - Estimation and analysis of cost by function - Validation of needs and objectives |
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| Phase 4 | Development of ideas and means for solution | - Idea development (creativity techniques) - Solution development - Classification and evaluation of solutions |
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| Phase 5 | Study and evaluation of solutions | - Appraisal of possible solutions - Recommendations - Decision (manager) |
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| Phase 6 | Appraisal of proposed solutions | - Appraisal of possible solutions - Recommendations - Decision (manager) |
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| Phase 7 | Follow up after implementation | - Implementation - Analysis of shortcomings - VA report |
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