Value analysis is a technique used to evaluate a product design and identify ways to reduce costs. It involves examining each component of the product design in order to identify any potential value improvements that can be made. For example, by removing unnecessary components, improving manufacturing processes, or using more cost-effective materials. This process helps ensure that the final product is as cost-effective as possible without compromising quality or performance. With value analysis, designers can also gain a better understanding of the overall production process and how different elements interact with one another, which can lead to further improvements in efficiency and cost savings.