The name of the methodology all starts with "value." How it is applied is normally the second word. Other names that have been used in the past include:

• VI - Value Improvement
• VM - Value Management
• VB - Value Buying
• VP - Value Planning
• VR - Value Research - - - - you get the idea!

Why does the methodology apply to everything?

The secret is because the methodology involves function analysis and, everything has a function, therefore the methodology has universal application to every endeavor.

Work Functions relate to use value.

Sell Functions relate to aesthetic or esteem value. In short, the product or service must perform as necessary and must be desired.

In conducting value studies we classify functions as either basic or secondary:

• Basic function - 1. That which is essential to the performance of a work or sell function, 2. The function describing the primary utilitarian characteristics of a product or service to fulfill a user requirement.
• Secondary function - 1. The manner in which the basic function was implemented, 2. A function indicating quality, dependability, performance, convenience, attractiveness, and general satisfaction beyond that needed to satisfy minimum user needs.

In conducting a value study we consider only the three types of economic value shown below. We do not deal with political value, social value, judicial values, etc.

• Value methodology takes the cost or price of a product or services and allocates it to each function being performed to determine function cost.
• Next, we determine the worth of each function. Larry Miles calls it the "value of a function" in his original text. With his permission, we use the term worth to avoid confusing the issue!

The last step in our methodology is to use a multi-discipline team to conduct a study to improve value following the Job Plan.

The Scientific Method of Problem Solving:

We didn't invent it, but we are probably the only group of people who religiously use it because it works so well.

Features of the Job Plan include:

• Defining function as we gather information;
• Using creative problem solving techniques to find better solutions;
• Not mixing creativity with the judging of ideas (They are in separate phases.); * Developing and presenting ideas;
• Actually following through with implementation.