scope:

This European Standard defines language for optimising performance and productivity by using Value Management.

This European Standard defines terms in Value Management (VM).

This European Standard aims to:

- Promote and define common language for Optimising Performance and Productivity by using Value Management;

- Define the main terms of the "Value Management (VM), Value Analysis (VA), Function Analysis (FA)" field;

- Define terms for important methods and tools;

- Establish a single source for generic terms;

- Create accessible language for international communication;

- Publish useful definitions for specialists and non specialists;

- Clarify differences which may exist in language where a word in common use is used to signify a specific meaning in Value Management;

- Reduce the risk of inconsistency between standards applied internationally.