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Preface

Preface

For many years, the terms value analysis (VA) and value engineering (VE) have been used alternately. There still exists disagreement concerning their exact meanings; they depend, for the most part, upon the country or the national association using them. In this book, “value analysis” includes both value analysis and value engineering, in accordance with the new EN 1325-1 European standard. The consensus today is to use value management to describe the integrated widespread application of value techniques. It encompasses function analysis, value engineering, value analysis, value control (validation), and other value techniques. Value management also involves the skills and knowledge needed to manage the value process by applying the correct tools and techniques at the appropriate time, allowing the greatest benefit to the project. It involves planning and coordination of the process and training of the team.

Value management methodology is based on a few determining principles and concepts that are the framework upon which value practitioners build and add substance through constant sharing of ideas. This book has been inspired by the work and experiences of leading value practitioners. It aims to provide a scope of current practices, from which new value practitioners may extract principles, concepts, tools, and techniques to develop individual value management practices. Therefore, the book will require updating as value management continues to evolve.

In the first chapter, the book provides the background needed to understand the origins of value management. The second chapter comprises a description of value management’s guiding principles and concepts, and the third chapter describes tools and techniques that can be used to achieve the objectives of a value study. The fourth chapter covers value integration.

The Appendix section has been organized into three topics—Value Management Associations, WWW Sites, and Value Analysis Forms— for keeping current. The References section at the end of the book includes magazine articles, standards, and books, as well as a Videography, including visual documents. Books have been selected for their contribution to the value management body of knowledge, and articles are either milestones of value management or new trends.

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