What is the difference between value analysis and value engineering?

Value Analysis / Value Engineering is a systematic method to improve the value of products / services. 

Value Analysis - When the techniques are applied on existing products / services

Value Engineering - When the techniques are applied at the design stage for the new products

Value Engineering is a systematic approach to reduce unnecessary costs without compromising functionality, quality or benefits but value analysis is focused on functional of objectives against cost.  

Value Analysis

It is the assessment of the value by analytical methods

Value Engineering

It is the approach to work out alternative methods, strategies to reduce the cost of the product through as well as to oprimize the cost

value analysis is as cost of improvement and while value engineering is an organized approach to providing the necessary functions at the lowest cost from the beginning the concept of value engineering was seen to be cost validation exercise, which did not affect the quality of the product.The straight omission of an enhancement or finish would not be considered value engineering..Is can be an identification and elimination of unnecessary costs. is also a cost reduction

Value engineering is to reduce cost through alternative enginnering solution may be not existing .

Value analysis is to identify existing tech. solutions .

value analysis is an objective evaluation of the value of a service. Value engineering is value analysis conducted at the design engineering stage of the product development process.

Value analysis is more to relate with adopting an analysis strategy to get cost benefits out of it and the way to achive the results .Value engineering is applying the strategy based on the analysis done to validate the analysis and get the expected results

Value analysis is a process of determining different sections / parts values.

Value engineering is a procees of re-engineering to reduce cost and maximize value.