Lawrence D. Miles Value Foundation
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What is value?

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!

Our final step in judging value is to divide function cost by function worth. An obvious mismatch is a good candidate for value study.

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