Value Analysis between Art and Technique

Abstract

Value Management is a method that provides an operating technique using a creative and organized approach. The Value Management includes Value Analysis managed by a group, each of them selected by their expertise in specific subjects and coordinated by a Value Analysis expert. The paper presents a complete study of Value Analysis applied specifically to one equipment, with one finality: re-design two selected pieces (the Flywheel and the Bearing). The phases and iterative operation of the Value Analysis method are presented. Value Analysis combines both engineering and economics without, however, placing either engineering or economics first. They both are similarly important, as can be concluded by the end of this paper.