Abstract

Abstract The basic methodology for a Value‐Driven Design (VDD) approach within life‐cycle‐oriented context is presented: Definition , Analysis , Evaluation, and Improvement . This chapter concludes that VDD presents a deeper conceptual quality over the traditional Systems Engineering approach, and offers a step improvement, in that VDD optimizes toward an optimal solution rather than finding one that fits into a broad box of potential solutions that are all equally good. And secondly, it is shown that VDD focuses MDO on the need to actually maximize value rather than losing site of the original goal due to the infinite complexity in deepening the analysis of independent variables, over and above the main issue of predicting and influencing the dependant variable that is identified through the objective value function. However, in terms of VDD delivering true operational value potential, the most important insight highlighted relates to the establishment of three clear principles that include: (1) the Differential Value Principle, (2) the Additive Value Principle, and (3) the Subjective Value Principle. These three Value Principles are proposed in order to help in the formulation of Value Models that truly capture the nature of value analysis and VDD. A case study is presented to demonstrate the application of the VDD approach in terms of an aircraft manufacturers' profit.

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