Understanding the functions of the function analysis phase is essential for any successful Value Engineering study. This phase breaks down a project into its core elements to identify areas ripe for improvement. Here are the five primary functions that drive this process:
- Identify Opportunity
- Create Understanding
- Expand Knowledge
- Stimulate Communication
- Change Viewpoint
Identify Opportunity is one of the primary reasons to perform function analysis. Per SAVE International ® , the objective of the function analysis phase is to identify the functions of the project that have the best opportunity for improvement of value. Remember that value improvement can be a combination of improving performance and/or reducing cost. Performance can increase at a greater rate than the increase in cost to create a value improvement.
—> to be cont.
