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Value Methodology Standard

This document outlines the Value Methodology standard which defines common terminology and provides a standardized job plan for conducting value methodology studies. It describes the applicability of value methodology to various types of projects including hardware, construction, manufacturing, and organization projects. It emphasizes the importance of establishing a skilled value study team representing relevant technical disciplines. The standard job plan details the pre-study, value study, and post-study phases involved in a value methodology project.

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0% found this document useful (0 votes)
377 views19 pages

Value Methodology Standard

This document outlines the Value Methodology standard which defines common terminology and provides a standardized job plan for conducting value methodology studies. It describes the applicability of value methodology to various types of projects including hardware, construction, manufacturing, and organization projects. It emphasizes the importance of establishing a skilled value study team representing relevant technical disciplines. The standard job plan details the pre-study, value study, and post-study phases involved in a value methodology project.

Uploaded by

Amany Tantawy
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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VALUE METHODOLOGY

STANDARD

May, 1997
Revised May, 1998
Revised October, 1998

SAVE International gratefully acknowledges John W. Bryant, CVS, FSAVE, and the Paul Revere Chapter for their contributions to the
development of this Standard.
Table of Contents

Page No.

FOREWORD 1

VALUE METHODOLOGY APPLICABILITY 1

VALUE STUDY TEAM 2

THE VALUE METHODOLOGY JOB PLAN 3

PRE-STUDY 4

VALUE STUDY 5

POST-STUDY 8

VALUE PROFESSIONAL PROFILE 9

CERTIFIED VALUE SPECIALIST 10

BODY OF KNOWLEDGE 10

TYPICAL DUTIES OF A VALUE PROGRAM UNIT 13

GLOSSARY 14

APPENDIX 17
VALUE METHODOLOGY STANDARD

FOREWORD

Since 1947 the methods, technology and application of the Value Methodology (VM) has greatly increased and
expanded. VM includes the processes known as Value Analysis, Value Engineering, and Value Management. It is
sometimes also referred to as Value Control, Value Improvement or Value Assurance. This Standard defines common
terminology, offers a standardized Job Plan - while allowing the great diversity of individual practices that have been
successfully developed - and is offered to reduce confusion to those being introduced to VM. The Standard includes
the approved Job Plan, the Body of Knowledge as developed by the SAVE International professional Certification
Board, typical profiles of the Value Specialist and Value Manager, duties of a Value Organization, a glossary, and an
appendix of references.

VALUE METHODOLOGY APPLICABILITY

A. The Value Methodology can be applied wherever cost and/or performance improvement is desired. That
improvement can be measured in terms of monetary aspects and/or other critical factors such as productivity,
quality, time, energy, environmental impact, and durability. VM can beneficially be applied to virtually all areas of
human endeavor

B. The Value Methodology is applicable to hardware, building or other construction projects, and to “soft” areas such
as manufacturing and construction processes, health care and environment services, programming, management
systems and organization structure. The pre-study efforts for these “soft” types of projects utilizes standard
industrial engineering techniques such as flow charting, yield analysis, and value added task analysis to gather
essential data.

C. For civil, commercial and military engineering works such as buildings, highways, factory construction, and
water/sewage treatment plants, which tend to be one time applications, VM is applied on a project to project basis.
Since these are one-time capital projects, VM must be applied as early in the design cycle as feasible to achieve
maximum benefits. Changes or redirection of design can be accomplished without extensive redesign, large
implementation cost, and schedule impacts. Typically for large construction projects, specific value studies are
conducted during the schematic stage and then again at the design development (up to 45%) stage. Additional
value studies may be conducted during the construction or build phase.

D. For large or unique products and systems such as military electronics or specially designed capital equipment, VM
is applied during the design cycle to assure meeting of goals and objectives. Typically a formalized value study is
performed after preliminary design approval but before release to the build/manufacture cycle. VM may also be
applied during the build/manufacture cycle to assure that the latest materials and technology are utilized.

E. VM can also be applied during planning stages, and for project/program management control by developing
function models with assigned cost and performance parameters. If specific functions show trends toward beyond
control limits, value studies are performed to assure the function’s performance remains within the control limits.

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VALUE STUDY TEAM

A key to the successful application of a value study is the skills and experience of those applying the methodology.
While the methodology can, and often is, used by individuals, for significant projects it has been proven that a well
organized team obtains the best value for effort performed.

The Team Leader performs a key role and is a significant factor in the degree of success. The Team Leader must
have thorough training in both the Value Methodology and team facilitation. The requirements include strong leadership,
communication skills, and experience working with users/clients.

The size and composition of the team is project dependent. The members should represent a diverse background and
experience that incorporates all the knowledge required to fully cover the issues and objectives of the project. Typically
these include cost, estimating, procurement/materials, and those technical disciplines unique to the project such as
design, manufacturing, construction, environmental, and marketing.

It is most advantageous for the team leader, or a team member, to implement the approved value proposals at study
completion.

Decisions based primarily upon one technical discipline will often have significant effects on other disciplines within the
project. In addition to being technically competent, team member selection should include individuals who represent the
range of disciplines and end users the study results will impact. They must be individuals who generate positive
attitudes and are willing to investigate new ideas and then rationally evaluate them.

2
THE VALUE METHODOLOGY JOB PLAN

The Value Methodology uses a systematic Job Plan (figure 1). The Job Plan outlines specific steps to effectively
analyze a product or service in order to develop the maximum number of alternatives to achieve the product’s or
service’s required functions. Adherence to the Job Plan will better assure maximum benefits while offering greater
flexibility.

PRE-STUDY

Collect User/Customer Attitudes


Complete Data File
Determine Evaluation Factors
Scope the Study
Build Data Models
Determine Team Composition

VALUE STUDY

Information Phase
Complete Data Package
Modify Scope

Function Analysis Phase


Identify Functions
Classify Functions
Develop Function Models
Establish Function Worth
Cost Functions
Establish Value Index
Select Functions for Study

Creative Phase
Create Quantity of Ideas by Function

Evaluation Phase
Rank and Rate Alternative Ideas
Select Ideas for Development

Development Phase
Conduct Benefit Analysis
Complete Technical Data Package
Create Implementation Plan
Prepare Final Proposals

Presentation Phase
Present Oral Report
Prepare Written Report

Obtain Commitments for Implementation

POST-STUDY

Complete Changes
Implement Changes
Monitor Status

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Figure 1: The VM Job Plan
The VM Job Plan covers three major periods of activity: Pre-Study, the Value Study, and Post-Study. All phases and
steps are performed sequentially. As a value study progresses new data and information may cause the study team to
return to earlier phases or steps within a phase on an iterative basis. Conversely, phases or steps within phases are not
skipped.

I. PRE-STUDY

Preparation tasks involve six areas: Collecting/defining User/Customer wants and needs, gathering a complete data
file of the project, determining evaluation factors, scoping the specific study, building appropriate models and
determining the team composition.

A. Collect User/Customer Attitudes

The User/Customer attitudes are compiled via an in-house focus group and/or external market surveys. The
objectives are to:

1. Determine the prime buying influence;

2. Define and rate the importance of features and characteristics of the product or project;

3. Determine and rate the seriousness of user-perceived faults and complaints of the product or project;

4. Compare the product or project with competition or through direct analogy with similar products or
projects.

For first time projects such as a new product or new construction, the analysis may be tied to project goals and
objectives.

The results of this task will be used to establish value mismatches in the Information Phase.

B. Gather a Complete Data File

There are both Primary and Secondary sources of information. Primary sources are of two varieties: people
and documentation. People sources include marketing (or the user), original designer, architect, cost or
estimating group, maintenance or field service, the builders (manufacturing, constructors, or systems
designers), and consultants. Documentation sources include drawings, project specifications, bid documents
and project plans.

Secondary sources include suppliers of similar products, literature such as engineering and design standards,
regulations, test results, failure reports, and trade journals. Another major source is like or similar projects.
Quantitative data is desired.

Another secondary source is a site visitation by the value study team. “Site” includes actual construction
location, manufacturing line, or office location for a new/improved system. If the actual “site” is not available,
facilities with comparable functions and activities may prove to be a valuable source of usable information.

C. Determine Evaluation Factors

The team, as an important step in the process, determines what will be the criteria for evaluation of ideas and
the relative importance of each criteria to final recommendations and decisions for change. These criteria and
their importance are discussed with the user/customer and management and concurrence obtained

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D. Scope the Study

The team develops the scope statement for the specific study. This statement defines the limits of the study
based on the data-gathering tasks. The limits are the starting point and the completion point of the study. Just
as important, the scope statement defines what is not included in the study. The scope statement must be
verified by the study sponsor.

E. Build Models

Based on the completion and agreement of the scope statement, the team may compile models for further
understanding of the study. These include such models as Cost, Time, Energy, Flow Charts, and Distribution,
as appropriate for each study.

F. Determine Team Composition, Wrap-Up

The Value Study Team Leader confirms the actual study schedule, location and need for any support
personnel. The study team composition is reviewed to assure all necessary customer, technical, and
management areas are represented. The Team Leader assigns data gathering tasks to team members so all
pertinent data will be available for the study.

II. THE VALUE STUDY

The value study is where the primary Value Methodology is applied. The effort is composed of six phases:
Information, Function Analysis, Creativity, Evaluation, Development, and Presentation.

A. Information Phase

The objective of the Information Phase is to complete the value study data package started in the Pre-Study
work. If not done during the Pre-Study activities, the project sponsor and/or designer brief the value study
team, providing an opportunity for the team to ask questions based on their data research. If a “site” visitation
was not possible during Pre-Study, it should be completed during this phase.

The study team agrees to the most appropriate targets for improvement such as value, cost, performance, and
schedule factors. These are reviewed with appropriate management, such as the project manager, value study
sponsor, and designer, to obtain concurrence.

Finally, the scope statement is reviewed for any adjustments due to additional information gathered during the
Information Phase.

B. Function Analysis Phase

Function definition and analysis is the heart of Value Methodology. It is the primary activity that separates
Value Methodology from all other “improvement” practices. The objective of this phase is to develop the most
beneficial areas for continuing study. The team performs the following steps:

1. Identify and define both work and sell functions of the product, project, or process under study using
active verbs and measurable nouns. This is often referred to as Random Function Definition.

2. Classify the functions as basic or secondary

3. Expand the functions identified in step 1 (optional)

4. Build a function Model - Function Hierarchy/Logic or Function Analysis System Technique (FAST)
diagram.

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5. Assign cost and/or other measurement criteria to functions

6. Establish worth of functions by assigning the previously established user/customer attitudes to the
functions

7. Compare cost to worth of functions to establish the best opportunities for improvement

8. Assess functions for performance/schedule considerations

9. Select functions for continued analysis

10. Refine study scope

C. Creative Phase

The objective of the Creative Phase (sometimes referred to as Speculation Phase) is to develop a large
quantity of ideas for performing each function selected for study. This is a creative type of effort, totally
unconstrained by habit, tradition, negative attitudes, assumed restrictions, and specific criteria. No judgment or
discussion occurs during this activity. The quality of each idea will be developed in the next phase, from the
quantity generated in this phase.

There are two keys to successful speculation: first, the purpose of this phase is not to conceive of ways to
design a product or service, but to develop ways to perform the functions selected for study. Secondly,
creativity is a mental process in which past experience is combined and recombined to form new
combinations. The purpose is to create new combinations which will perform the desired function at less total
cost and improved performance than was previously attainable.

There are numerous well accepted idea generation techniques. The guiding principle in all of them is that
judgment/evaluation is suspended. Free flow of thoughts and ideas - without criticism - is required.

D. Evaluation Phase

The objectives of the Evaluation Phase are to synthesize ideas and concepts generated in the Creative Phase
and to select feasible ideas for development into specific value improvement.

Using the evaluation criteria established during the Pre-Study effort, ideas are sorted and rated as to how well
they meet those criteria. The process typically involves several steps:

1. Eliminate nonsense or “thought-provoker” ideas.

2. Group similar ideas by category within long term and short term implications. Examples of groupings are
electrical, mechanical, structural, materials, special processes, etc.

3. Have one team member agree to “champion” each idea during further discussions and evaluations. If no
team member so volunteers, the idea or concept is dropped.

4. List the advantages and disadvantages of each idea.

5. Rank the ideas within each category according to the prioritized evaluation criteria using such techniques
as indexing, numerical evaluation, and team consensus.

6. If competing combinations still exist, use matrix analysis to rank mutually exclusive ideas satisfying the
same function.

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7. Select ideas for development of value improvement.

If none of the final combinations appear to satisfactorily meet the criteria, the value study team returns to the
Creative Phase.

E. Development Phase

The objective of the Development Phase is to select and prepare the “best” alternative(s) for improving value.
The data package prepared by the champion of each of the alternatives should provide as much technical,
cost, and schedule information as practical so the designer and project sponsor(s) may make an initial
assessment concerning their feasibility for implementation. The following steps are included:

1. Beginning with the highest ranked value alternatives, develop a benefit analysis and implementation
requirements, including estimated initial costs, life cycle costs, and implementation costs taking into
account risk and uncertainty.

2. Conduct performance benefit analysis.

3. Compile technical data package for each proposed alternative:

a. written descriptions of original design and proposed alternative(s)

b. sketches of original design and proposed alternative(s)

c. cost and performance data, clearly showing the differences between the original design and proposed
alternative(s)

d. any technical back-up data such as information sources, calculations, and literature

e. schedule impact

4. Prepare an implementation Plan, including proposed schedule of all implementation activities, team
assignments and management requirements.

5. Complete recommendations including any unique conditions to the project under study such as emerging
technology, political concerns, impact on other ongoing projects, marketing plans, etc.

F. Presentation Phase

The objective of the Presentation Phase is to obtain concurrence and a commitment from the designer, project
sponsor, and other management to proceed with implementation of the recommendations. This involves an
initial oral presentation followed by a complete written report.

As the last task within a value study, the VM study team presents its recommendations to the decision making
body. Through the presentation and its interactive discussions, the team obtains either approval to proceed
with implementation, or direction for additional information needed.

The written report documents the alternatives proposed with supporting data, and confirms the implementation
plan accepted by management. Specific organization of the report is unique to each study and organization
requirements.

III. POST STUDY

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The objective during Post-Study activities is to assure the implementation of the approved value study change
recommendations. Assignments are made either to individuals within the VM study team, or by management to
other individuals, to complete the tasks associated with the approved implementation plan.

While the VM Team Leader may track the progress of implementation, in all cases the design professional is
responsible for the implementation. Each alternative must be independently designed and confirmed, including
contractual changes if required, before its implementation into the product, project, process or procedure. Further,
it is recommended that appropriate financial departments (accounting, auditing, etc.) conduct a post audit to verify
to management the full benefits resulting from the value methodology study. Further, it is recommended that
appropriate financial departments (accounting, auditing, etc.) conduct a post audit to verify to management the full
benefits resulting from the value methodology study.

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VALUE PROFESSIONAL PROFILE

VALUE PROGRAM MANAGER

Reports to: General Manager or member of Executive Staff

Education: 4-year college degree or 5 years relevant experience


Module I Value Methodology Workshop or equivalent
Module II Advanced Seminar

Experience: 5 years (minimum) in specialized industry or government


2 years in Value Methodology

Qualifications: Technical Aptitude


Team Leadership Skills
Effective Communicator
Understands Manufacturing, Procurement, Contracts, Costs
Training Aptitude

Personality: Leader
Resourceful
Communicator

VALUE PRACTITIONER

Reports to: Value Program Manager

Education: 4-year college degree or 5 years relevant experience


Module I Value Methodology Workshop or equivalent

Experience: 3 years (minimum) in specialized industry or government

Qualifications: Technical Aptitude


Creative
Effective Communicator
Understanding of Manufacturing/Construction, Procurement,
Subcontracting, and Costs

Personality: Team Oriented


Not Easily Discouraged
Resourceful
Respected within Organization

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CERTIFIED VALUE SPECIALIST

SAVE International maintains a professional certification program, the function of which is to recognize individuals who
use the value methodology in their principal career and who have met the approved education and experience
standards. Those standards include:

1. Completion of Module I and Module II approved training courses.


2. A minimum of two years full time work experience in the VM field.
3. Demonstration of required performance in value studies.
4. Demonstration of continued growth through learning, teaching, presentations/writing, and contributions to the VM
profession.
5. Submission of an original paper concerning any value related subject.
6. Successful completion of the Value Theory and Practice examinations.

To assist certification candidates, the Certification Board has issued a Body of Knowledge listing topical areas with
which any qualified Value Specialist should be familiar.

BODY OF KNOWLEDGE

I. Fundamental Value Concepts


A. VM History and Characteristics
1. Historical development of the Value Methodology
2. Types of value
3. Relation of quality and value
4. Primary VM questions (six): What is it? What does it do? etc.
5. Fundamental value principles and methods
6. Differentiating the Value Methodology from other methods
B. Job Plans
1. Three major stages and individual Job Plan phases
2. Objectives of each stage and Job Plan phase
3. Variations of Job Plans
4. What the VM team does during each phase of the Job Plan
C. Function Analysis Basics
1. Defining functions
2. Classifying functions
3. Types of function models
D. Function/Cost
1. Purpose
2. Allocating costs to functions
3. Pareto Analysis
4. Cost models vs. function-cost model

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E. Function Worth
1. Cost-value relationship
2. Good and poor value functions
a) Value index
b) Customer input
c) High cost and low cost functions
3. Establish worth of functions
F. Creativity and Creative Processes
1. Creating by function
2. Techniques to help generate ideas
II. Concept Application
A. Defining Functions
1. Verb-Noun language
2. Higher orders of abstraction
B. Classifying Functions
1. Basic function
2. Secondary or supporting function
3. Higher order function
4. Assumed function
C. Allocating Costs to Functions
D. Determining the Value Index
1. Relationships of Function Worth and Function Cost
2. Good value and poor value
E. Function Modeling
1. Basic types
a) Hierarchy models
b) Function Analysis System Technique (FAST)
(1) “Classic”
(2) Customer/User
(3) Technical
2. Characteristics and Construction of FAST Diagrams
a) Scope lines
b) How? - Why? logic
c) Elements of a FAST diagram
d) Good relational logic paths of functions
e) Critical path of functions where applicable

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f) Placement of design objectives where applicable
3. Allocating costs and other measures on function models
F. Financial Analysis
1. Cost estimating/control systems
a) Direct and indirect costs
b) Fixed and variable costs
c) Financial impact of VM proposals
d) VM’s relationship to and use of financial systems
e) Contracting for Value services
(1) VM team
(2) Designers, architects, etc.
(3) Support personnel
2. Contracting for Value Methodology
a) Calculating net savings
b) Sharing incentives
c) Types of clauses/contracts used in public and private sectors
3. Break-Even Analysis
4. Life Cycle Cost Analysis
5. Value Studies
a) Net and gross costs
b) Return of study cost
c) Implementation and programmed costs
d) Hurdle rates
III. Management of Value
A. Organizing and implementing VM programs
B. Management’s role
C. Value team composition
D. Team leader skills
E. Managing VM teams and studies
IV. Value Analysis Education
A. Basic Value Analysis Education
1. Module I training workshop content
2. Module II seminar content
B. Related Programs

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TYPICAL DUTIES OF A VALUE PROGRAM UNIT

A. Maintain up-to-date knowledge of the “State of the Art” Value Methodology theory and practice.

B. Select specific projects for VM study and get them approved by management/customer and secure team members
to perform the study.

C. Lead and coordinate all VM studies

D. Assist management in setting annual goals. Report monthly on progress on ongoing projects, projects completed
and projects scheduled. Reports should demonstrate expenditures vs. benefits, line item status of each project,
educational program status and return-on-expenditure history.

E. Plan and conduct VM training courses to assure a cadre of basic trained personnel for studies.

F. Conduct management orientations and briefings as appropriate. Be available for similar briefings in VM for
customers and clients.

G. Work with the procurement organization to involve vendors, suppliers and subcontractors in the VM program.
Develop methods of inviting their suggestions for value improvements and a sharing arrangement for those
suggestions. Support procurement in any VM oriented change proposal negotiations.

H. Monitor the implementation of accepted VM proposals to assure maximization of potential benefits.

I. Represent the organization in the community concerning value improvement. Contribute to the VM profession’s
growth through participation in technical conferences, lecturing at colleges, etc.

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GLOSSARY
COST
The expenditure necessary to produce a product, service, process or structure.

COST, DESIGN TO
A procedure which establishes an estimated cost objective for each project, then designs to that cost objective to
produce a reliable product or service.

COST, LIFE CYCLE


The sum of all acquisition, production, operation, maintenance, use and disposal costs for a product or project
over a specified period of time.

COST MODEL
A diagramming technique used to illustrate the total cost of families of systems or parts within a total complex
system or structure.

COST/WORTH RATIO
The ratio used to determine the maximum opportunity for value improvement.

FUNCTION
The natural or characteristic action performed by a product or service.

FUNCTION, BASIC
The primary purpose or most important action performed by a product or service. The basic function must
always exist, although methods or designs to achieve it may vary.

FUNCTION, SECONDARY
A function that supports the basic function and results from the specific design approach to achieve the basic
function. As methods or design approaches to achieve the basic function are changed, secondary functions may
also change. There are four kinds of secondary functions:
1. Required - A secondary function that is essential to support the performance of the basic function under the
current design approach.
2. Aesthetic - A secondary function describing esteem value.
3. Unwanted - A negative function caused by the method used to achieve the basic function such as the heat
generated from lighting which must be cooled.
4. Sell - A function that provides primarily esteem value. For marketing studies it may be the basic function.

FUNCTION MODELS
A graphical depiction of the relationships of the functions within a project. There are two commonly used styles:
1. Hierarchy - A vertical “tree” chart of functions. Recent practice has been to include within one branch
user oriented functions such as assure convenience, assure dependability, assure safety, and attract user.
Some practitioners prefer to lay out this model horizontally and refer to it as “user FAST.”
2. Function Analysis System Technique (FAST) - A horizontal chart depicting functions within a project, with
the following rules:
a. The sequence of functions on the critical path proceeding from left to right answer the questions “How
is the function to its immediate left performed?”
b. The sequence of functions on the critical path proceeding from right to left answer the question “Why is
the next function performed?”

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c. Functions occurring at the same time or caused by functions on the critical path appear vertically below
the critical path function.
d. The basic function of the study is always farthest to the left of the diagram of all functions within the
scope of the study.
e. Two other functions are classified:
1) Highest Order - The reason or purpose that the basic function exists. It answers the “why”
question of the basic function, and is depicted immediately outside the study scope to the left.
2) Lowest Order - The function that is required to initiate the project and is depicted farthest to the
right, outside the study scope. For example, if the value study concerns an electrical device, the
“supply power” function at the electrical connection would be the lowest order function.

JOB PLAN
A structured discipline to carry out a value study.

PERFORMANCE
The physical characteristics required to meet the users needs. Factors such as reliability, maintainability, quality
and appearance are typical.

PRICE
A fixed sum of money expended by the user/customer to purchase the product under study.

PRODUCT
For the purposes of value studies, a product is the subject of the study. It may be a physical product such as a
manufactured item, or a structure, system, procedure, or an organization.

SCOPE
The portion of the overall project that is selected for the value study. The analysis accepts everything within the
defined scope in order to focus attention on the functions within those limits.

VALUE
The lowest cost to reliably provide the required functions at the desired time and place with the essential quality
and other performance factors to meet user requirements.

VALUE, MONETARY
There are four classes of monetary value:
1. Use Value - The monetary measure of the functional properties of the product or service which reliably
accomplish a user’s needs.
2. Esteem Value - The monetary measure of the properties of a product or service which contribute to its
desirability or salability. Commonly answers the “How much do I want something?” question.
3. Cost Value - The monetary sum of labor, material, burden, and other elements of cost required to produce a
product or service.
4. Exchange Value - The monetary sum at which a product or service can be freely traded in the marketplace.

VALUE METHODOLOGY
The systematic application of recognized techniques which identify the functions of the product or service,
establish the worth of those functions, and provide the necessary functions to meet the required performance at
the lowest overall cost.

VALUE METHODOLOGY PROPOSAL

15
A proposal by the value study team to its management to provide one or more functions for financial and/or
performance improvements and is within the current terms and conditions of the contract.

VALUE STUDY
The application of the value methodology using the VM Job Plan, and people previously trained in VM
workshops.

VALUE METHODOLOGY TRAINING


There are two levels of SAVE International approved training specifically designed to provide the minimum
knowledge of VM practice. It is expected that VM professionals, as in all professional fields, will continue to
keep themselves current through seminars, conferences, and associated educational opportunities.
1. Value Methodology Workshop - The objective is to provide Value Methodology education to the degree that
participants will be able to successfully participate in future value studies under the guidance of a qualified
Value Specialist with minimum additional training. This is called the Module I program.
2. Value Methodology Advanced Seminar - The objective of this seminar is to extend the knowledge base of
those wishing to become professionals in the value methodology field. Topics include both advanced
methodology and areas of management. This seminar is referred to as the Module II program.
The seminar requires a minimum of 24 class hours. Module I is a prerequisite, and it is expected attendees
will have enough practical experience in VM to contribute to the seminar.

VALUE ANALYST
Synonymous with Value Specialist.

VALUE ENGINEER
Synonymous with Value Specialist.

VALUE ENGINEERING CHANGE PROPOSAL (VECP)


A formal proposal submitted to the customer/user which requires their approval before implementing the VA
change. The result will be a modification to the submitter’s contract.

VALUE SPECIALIST
One who applies the value methodology to study and search for value improvement.

WORTH
The lowest overall cost to perform a function without regard to criteria or codes.

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APPENDIX

Reference Materials

Publications Catalog, SAVE International


Describes textbooks and educational materials on the Value Methodology and related programs. Includes
videotapes and information on Value World, SAVE International’s technical journal.

Annual Conference Proceedings, SAVE International


Includes all presentations given at each annual conference. Also available is a VM Bibliography, a compilation
of all presentations since 1980, and articles from Value World. Each presentation shows Title, Author,
Abstract, and Source. Papers can be individually ordered from SAVE International.

“Standard Practice for Performing Value Analysis (VA) of Buildings and Building Systems”, American Society for
Testing and Materials, Publication E-1699-95.

Value Methodology Certification Manuals, SAVE International


Certification Manual
Recertification Manual
Seminar/Workshop Manual
Certification Examination Study Guide

SAVE International Internet Web Site: http://www.value-eng.com

Lawrence D. Miles Value Foundation Internet Web Site: http://www.valuefoundation.org

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