Definition:
The process of identifying and understanding the essential functions of a project or system to determine areas where cost savings can be achieved without affecting performance.
Key Components:
- Function Identification: Determining what each component is supposed to do.
- Cost-Function Relationship: Analyzing the cost associated with each function.
- Alternative Solutions: Exploring different ways to achieve the same function at a lower cost.
Use Cases/Industries:
- Construction: Evaluating building materials to find cost-effective alternatives.
- Manufacturing: Assessing production processes for efficiency improvements.
Advantages:
- Cost Reduction: Identifies unnecessary expenditures.
- Improved Efficiency: Streamlines processes by focusing on essential functions.
Challenges:
- Complexity: Requires detailed analysis and understanding of all project components.
- Resistance to Change: Stakeholders may be reluctant to alter established designs or processes.
Related Terms:
Value Analysis, Functional Performance Specification
Example:
In a building project, function analysis might reveal that a specified premium flooring material does not enhance the building’s function, leading to the selection of a more cost-effective alternative that meets performance requirements.
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Synonyms:
Functional Analysis, Function Evaluation
