The systematic and critical assessment by an organization of every feature of a product to ensure that its cost is no greater than is necessary to carry out its functions.
- ‘The value analysis team reviews all new products.’
- ‘Further the continuous contact during quality meetings, audits, value analysis projects and project meetings ensures a high quality level and competitive prices.’
- ‘The Website is incredibly comprehensive and can even do a value analysis for each fastener.’
- ‘Concepts such as standardization, procurement, budgets, and value analysis can be difficult to learn outside of a formal education program.’
- ‘He tended to analyze problems using straightforward frameworks such as present value analysis and basic valuation models.’