Value analysis (VA) is a team problem-solving process to improve the value of a product from the viewpoint of a user. This article presents a comparison between VA and total quality management in materials selection and design. It discusses the key attributes, concepts, and activities of the VA. The application of value engineering in the U.S. government contracts and construction industry is reviewed. The article describes the eight phases of VA process, namely, preparation, information, analysis, creation, synthesis, development, presentation and report, and implementation and follow-up. It presents case studies that illustrate the materials-related aspects of the VA process.