RE-CONCEPTUALISING VALUE IN ENGINEERING DESIGN PROCESS: THE VALUE CYCLE MAP
DS 68-1: Proceedings of the 18th International Conference on Engineering Design (ICED 11), Impacting Society through Engineering Design, Vol. 1: Design Processes, Lyngby/Copenhagen, Denmark, 15.-19.08.2011
Introducing "Cheaper, Faster, Better" product in today's highly competitive market is a challenging target. Therefore, for organizations to improve their performance, they need to adopt methods, such as process modeling, risk mitigation, and value lean principles. Recently, several industries and researchers focused efforts in transferring value concept to other phases of the Product Life Cycle (PLC), such as Product Development (PD), after its evident success in manufacturing. In PD, value, which is the main objective of lean theory, has been of particular interest as an improvement concept that can enhance process flow logistics and support decision-making. This paper presents an on going study of the current understanding of value in PD (VPD) with a focus on value dimension and implementation benefit. The purpose of this study is to consider the current value state of knowledge in proposing a definition of value and a framework for value delivery. The framework- named Value Cycle Map (VCM)- intends to facilitate understanding value and its delivery mechanism in the context of PLC. VCM can be used as a foundation for future research in value modeling and measurement in PD.