1.1 This practice covers a procedure for defining and satisfying the functions of a project.
1.2 A multidisciplinary team uses the procedure to convert stakeholder constraints, needs, and desires into descriptions of project functions and then relates these functions to revenues and cost.
1.3 Examples of costs are all relevant 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 Terminologies E631 and E833). While not the only criteria, cost is an important basis for comparison in a value analysis study of a project. Therefore, accurate and comprehensive cost data is an important element of the analysis.
1.4 is a procedure to develop alternatives that meet the project's functions. Estimate the costs for each alternative. Provide the owner/user/stakeholder with specific, technically accurate alternatives, appropriate to the stage of project development, which can be implemented. The owner/user/stakeholder selects the alternative(s) that best satisfies their constraints, needs and desires.
1.5 this practice to an entire project or to any subsystem. The user/owner/stakeholder can utilize the VA procedure to select the element or scope of the project to be studied.