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.