Value analysis is the comparison of a function or value against cost. Application within an AT-ID process may vary from comparing a particular value in the form of a product, system or service against a defined set of metrics, such as financial cost, a performance attribute or social value. It is used as a production engineering or business management heuristic to help decision-making.
A taxonomy or matrix of values against function may also be used to reduce costs within components or a service. In production engineering value analysis is used to reduce the number of parts whilst maintaining functionality. This purpose is closely aligned with standardisation and modularity (Torrens et al 1998)
The analysis may be used as a heuristic to provide a quick answer to a design decision or as a research method relating to user requirements or through expert review.
This technique is often used in product or service reviews for consumers.
Place a list of values, (components, products, systems or systems), in a row with a column of metrics or function against which the values will be measured. Define a common rating system for the individual function against which it may be used to assess each value. The rows may be discrete from each other or of a common metric, such as cost.
Torrens, G.E., Marshall, R., Burkitt, J. and Kay, G., Using modularity to produce more competitive assistive technology products, Proceedings of the 13th Irish Manufacturing Committee , Limerick, Ireland, 1996, pp 797-804 Available at: (https://dspace.lboro.ac.uk/dspace-jspui/handle/2134/15775) , Accessed: [23/052015]
Ulrich, Karl T., and Steven D. Eppinger. 1995. Product Design and Development. New York, New York, McGraw-Hill, United States.