Value Analysis is a method and technique used in the field of value management and product or process innovation . It is a systematic approach to assessing and evaluating product features and costs in order to identify opportunities to improve and optimize customer value.
VA is often used in engineering and management settings to identify the features or functions of a product that contribute to its value and quality. The goal is to eliminate or minimize elements that do not add value and are unnecessary or expensive.
Method includes the following steps:
- Identification of product functions: Each function or feature of the product is identified and described. These functions are then evaluated in terms of their importance to the customer.
- Cost assessment: For each function, the cost-effectiveness and costs associated with its implementation and maintenance are evaluated.
- Value Evaluation: Features are evaluated in terms of their ability to provide value to the customer. Aspects such as performance, reliability, durability, aesthetic design and other factors that are important to the customer are considered.
- Identifying opportunities for improvement: Based on the value assessment, areas are identified where customer value can be improved. And costs can be reduced. It can be a design change, material optimizations, process simplification and more.
The goal of value analysis is to increase the value of the product for the customer and simultaneously reduce the costs of its production and maintenance. In this way, it can contribute to innovation, competitiveness and improved organizational performance.