— Promote and define common language for Optimising Performance and Productivity by using Value Management;

— Define the main terms of the “Value Management (VM), Value Analysis (VA), Function Analysis (FA)” field;

— Define terms for important methods and tools;

— Establish a single source for generic terms;

— Create accessible language for international communication;

— Publish useful definitions for specialists and non specialists;

— Clarify differences which may exist in language where a word in common use is used to signify a specific meaning in Value Management;

— Reduce the risk of inconsistency between standards applied internationally.