European Master and Certification Program
in Risk Engineering and Management

Value Analysis

Course code: 181779
Language of instruction: English
Lecturers: under appointment (ytbc)
Assessment: Defined in the module

Short description

In modern times, successful organizations can’t rely on only to assessing and understanding customer’s needs, but they also have to know how to prepare the right design process that will deliver the optimal solution. The main purpose of the course is to give students a comprehensive knowledge about the concept of value and show them how to implement it to respond correctly to customer’s requirement. 


At the end of the course, participants are expected to:

-Have basics concerning the concept of value
-Understand the importance of perception and know how to assess it
-Know how to obtain feedback on value
-Be able to transfer their knowledge into design specifications
-Be familiar with the impacts of design on a product

Target Attendees / Participants

This module is targeted to current master of engineering students who aim to apply life cycle assessment to specific waste technologies or waste management systems for systematic evaluation of their environmental performances.

Course Content by Units

In this course, students will receive a presentation of:

-The concept of value

-Customer feedback on value and how to obtain it

-Quality function deployment

-Product design specification

-Tools and techniques for functional analysis

-Cost analysis

Teaching Methods

The course includes:

  • introductory note explaining aim and structure of the course, and used methodology as well
  • ex cathedra lecturing illustrated by number of examples
  • review of main topics in the end of each lecturing unit


Andersson, Tomas/Bergmann, Inger/Björk, Olav/Ericsson, Lars-Gunnar (2006): Value management. SIS Förlag AB: Stockholm.

British Standard BS EN 12973 (2000) Value Management. British Standards Institution

Dallas, M.F. (2006) Value and Risk Management: A Guide to Best Practice. Oxford: Blackwell

Office of Government Commerce (OGC) (2010), Management of Value, The Stationery Office

Stewart, Robert B. (2005): Fundamentals of Value Methodology. Xlibris Corporation

Stewart, Robert B. (2010): Value Optimization for Project and Performance Management. John Wiley & Sons, Inc.: Hoboken, New Jersey.

The Institute of Value Management, (2013) Value Management Techniques [internet], Available from

For more information about the European Master and Certification Program in Risk Engineering and Management in general, go the Homepage.
For more information about the European Master Program in Risk Engineering and Management in general, go the Master Study page.
To see more courses in the curriculum, go to The curriculum page, or by date and topic go to the Calendar of Courses page.
Contact: via email or phone +49 711 1839 781 or +49 711 1839 647
(Course profile ID: B7/F2-1:, generated on September 25, 2021)