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Value Engineering  133

        7.2  Information Phase

        The first phase of the value engineering job plan is the information phase.
        It is the most time-consuming yet most important phase. In this phase, we
        collect all the necessary raw information for the project, including relevant
        product descriptions, process flowcharts and layouts, and all relevant cost
        information. Based on the information collected in this phase, we will
        produce three important documents for the project: (1) the functions list,
        (2) the cost-function work sheet, and (3) the FAST (function analysis
        system technique) diagram. The function list is a complete list of all
        functions needed in order for the product to work properly; each function
        is defined and classified. The cost-function work sheet is a complete cost
        breakdown calculation for all the product elements (subtasks, items, or
        components) as well as for all the functions; the cost-function work sheet
        also lists the actual cost and best cost for each function. The FAST diagram
        is very important and provides an exact logical linkage among all
        functions. The actual cost and the best cost for each function are also
        recorded in the FAST diagram.
        The information phase is broken down into three distinctly separate
        parts.
          1. Information development
             a. Information collection
             b. Cost visibility
             c. Set goal for achievement
          2. Function determination
             a. Define functions
             b. Eliminate duplication
          3. Function analysis and evaluation
             a. Construct FAST diagram
             b. Function and cost analysis
             c. Function evaluation
             d. Identify problem areas
             e. Compare potential benefit to goal for achievement
        The work done in the information phase is the basis for the development
        of alternative low-cost methods to perform the required functions. If the
        functions have not been properly defined and evaluated, then the correct
        analysis will not be performed and the most satisfactory problem
        solution is not likely to be developed; if the cost figures are incorrect
        and/or incomplete, then the low-cost solution will not be identified
        correctly.
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