VAVE stands for value analysis and value engineering. It is a methodology used to identify and eliminate unnecessary costs in a product or service, while also improving its value and performance. This is typically achieved through a structured process involving various stakeholders who work together to identify opportunities for cost savings and value improvement, and develop and implement solutions to achieve these goals. The goal of VAVE is to improve the quality, performance, and functionality of a product or service while reducing its cost and increasing its profitability.
