1. Scope

1.1 This practice covers a procedure for defining and satisfying the requirements of the user's/owner's project.

1.2 A multidisciplinary team uses the procedure to convert design criteria and specifications into descriptions of project functions and then relates these functions to revenues and cost.

1.3 Examples of costs are all revelant costs over a designated study period, including the costs of obtaining funds, designing, purchasing/leasing, constructing/installing, operating, maintaining, repairing, replacing and disposing of the particular building design or system (see Terminology E833). While not the only criteria, cost is an important basis for comparison in a value analysis study of a building. Therefore, accurate and comprehensive cost data is an important element of the analysis.

1.4 This is a procedure to develop alternatives that meet the building's required functions. Estimate the costs for each alternative. Provide the user/owner with specific, technically accurate alternatives, appropriate to the stage of project development, which can be implemented. The user/owner selects the alternative(s) that best satisfies his needs and requirements.

1.5 Apply this practice to an entire project or to any subsystem. The user/owner can utilize the VA procedure to select the element or scope of the project to be studied.

2. Referenced Documents (purchase separately) The documents listed below are referenced within the subject standard but are not provided as part of the standard.

ASTM Standards

E631 Terminology of Building Constructions

E833 Terminology of Building Economics

E917 Practice for Measuring Life-Cycle Costs of Buildings and Building Systems

E1369 Guide for Selecting Techniques for Treating Uncertainty and Risk in the Economic Evaluation of Buildings and Building Systems

E1557 Classification for Building Elements and Related Sitework--UNIFORMAT II

E2013 Practice for Constructing FAST Diagrams and Performing Function Analysis During Value Analysis Study

Keywords

building economics; function analysis; life-cycle costing; value analysis; value engineering; Building design and construction; Building economics; Function analysis; Life-cycle cost (LCC) analysis; Value analysis (VA); VATL (value analysis team leader);

ICS Code

ICS Number Code 91.040.01 (Buildings in general)

DOI: 10.1520/E1699-00

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