1964-01-01

Philosophy of Value Analysis 640015

In simple terms value analysis may be thought of as the determination of the least cost to produce something that offers the most for your money and fulfills the function you expect of it. But the means by which the determination is made is vastly more complex, the product of a philosophy not confined by statistical boundaries but operative in the more intangible areas of logic, knowledge, creativity, environment, and attitudes and feelings. In this paper the author explores the principles that constitute the rational basis of value analysis and relates their importance to reduction or elimination of costs.

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