The value analysis process is designed to improve the revenue-cost relationship through the systematic application of known and proven techniques for determining functional structures. In doing so, products, production factors, processes and organizations are to be developed to the highest possible level of economic efficiency. A distinction is made between the value analysis of existing objects (value analysis), which aims to reduce costs, and the value analysis of objects in the development stage (value engineering), which is intended to contribute to cost prevention. Value analysis is characterized by a targeted examination of the functions of the object under consideration and a breakdown into main and secondary functions. Likewise a schematic planning process by means of a work planning is necessary, which is to cause the decision making by a given phase scheme. A further characteristic of the value analysis represents the temporally limited, cooperative teamwork of specialists from different ranges of the enterprise. Heuristic methods of the creativity promotion (e.g. Brainwriting) and for the alternative evaluation (use value analysis) are substantial element of the value analysis. Originally developed for technical objects, it can also be applied to activities, work processes, and the like. In project management the value analysis can be used e.g. in product innovation projects for the representation of the product in its functions, the pointing out of alternative function solutions etc.. (Source: GPM