A Value Analysis study is effective in improving the value of a product, process, project or service because it is undertaken in a systematic approach known as a Job Plan. The Value Analysis Job Plan is a series of specific steps, or phases which are used to analyze a product or service in order to develop alternatives to achieve the required functions. The Value Analysis Job Plan involves Pre-Workshop, Workshop, and Post-Workshop activities. The Job Plan's combination of creative and analytical techniques enables the VA team to effectively and efficiently identify alternative ways to achieve the desired outcome.
At the heart of the process is the use of functions or verb noun combinations. Function Analysis, Function-Based Brainstorming, Functional Performance Specification Technique, and Function Analysis System Technique all demonstrate the power of stating needs through functions. The statement of need in a functional form without reference to solutions stimulates creativity and the development of innovative alternative solutions.