Value Management (creating Competitive Advntages)

Value management is an organized effort that analyzes the functions of goods and services, it looks for ways to include the necessary functions and essential characteristics of the product while still operating in the most profitable manner. Value management is a structured building block process that makes a deliberate effort to identify what the market furnishes and what it actually needs.From the book Value Management is a concept that has been with us since the second world war as a method to cut across lines of authority and establish methods of developing and delivering projects on time, It is commonly used in many technology industries and in this book the focus turns to the use of FAST (Function Analysis System Technique) in TQM and other processes. It also shows how this timely development of the technique can be adapted to a new field such as marketing and sales.