Value methodologies can be applied during any stage of a projects development cycle, although the greatest benefit
and resource savings are typically achieved early in development during the conceptual stages. At this point, the
basic information of the project is established, but major design and development resources have not yet been
committed. The reason this is the best time to apply a value methodology is because the manner in which the basic
function of the project is performed has not been established, and alternative ways may be identified and considered.
Examples of these applications are