In achieving better value, there are two separate opportunity areas: (1) The identification of costs as necessary, and (2) The decision making which will eliminate the identified unnecessary cost. The techniques in this text apply extensively in area 1, identification. They are applicable in the predesign stage, the design-concept stage, the procurement stage, and the manufacturing stage, as well as in later cost-improvement stage. The objective of the concepts and techniques of value analysis is to make possible a degree of effectiveness in identifying and removing unnecessary cost that approaches the effectiveness of identifying performance improvements for the product or service and incorporating them into it. Value analysis is the name applied to this disciplined, step-by-step thinking system, with its specific approaches for mind setting, problem setting, and problem solving. Value engineering is often the name correctly used by qualified engineers in engineering work. This book was written by Lawrence D. Miles, the creator of value analysis. Its content is as accurate today as when it was originally published. it is the seminal reference of value analysis principles and concepts.