Value methodologies may be applied more than once during the life of the project. Early application of a
value methodology helps to get the project started in the right direction, and repeated applications help to refine the
project’s direction based on new or changing information. The later a Value Study is conducted in project
development, more likely implementation costs will increase. A value methodology may be applied as a quick
response study to address a problem or as an integral part of an overall organizational effort to stimulate innovation
and improve performance characteristics. Value methodologies may be used to enhance an organization’s quality
programs, new product development activities, manufacturing processes, and architectural and engineering design.