Value analysis is an examination of the factors affecting the cost of a product or service with the objective of achieving the specified purpose most economically at the required level of quality and reliability . Functional analysis is an analysis of the reduction between product functions, the cost of their provision and their perceived value to the customer. Therefore, value analysis is a form of cost reduction which is based upon investigating the processes involved in providing a product or service, whereas functional analysis focused on the value to the customer of each function of the product or service and form this determines whether it is necessary to reduce the cost of providing each function.