Value control and value management
Value analysis

The term "value management" encompasses all the approaches and methods we have just examined: value analysis proper, functional specifications, functional analysis, whose use goes far beyond the simple framework of VA, design for objective cost and for objective overall cost.

It's time to move beyond the piecemeal approach, where even highly profitable one-off operations no longer suffice. When a global, systematic approach is adopted, we can truly speak of Value Management (VM).

Value management needs to be a key component of modern corporate management thinking, and while we've already talked about the AV function within the company, it's actually the value management function that needs to be put in place.

True VM occurs when the company's management is fully integrated, particularly in terms of its medium- and...