Value Analysis (Product Cost Reduction)
This will apply for existing and new products, large or small design). The team will typically analyse the design against functional conformance and for opportunities to enhance this functional performance for less cost.
The application methodology of Value Analysis will focus on the function / cost relationship of each component and through the Value Management approach analyse and optimise the peripheral costs associated to the design.
The methodologies applied will be:
- Function / Cost Analysis
- Redundanct Analysis
- Value Management principles