A trial on comprehensive value judgment of industrial product

The author proposes to evaluate values of industrial products comprehensively by life cycle value (LCV). LCV consists of the market value of the traditional meaning, "global value" to be given to the efforts to reduce environmental loads, and "social value" to be given to the social incentives to the environmental efforts. The author describes the three values in product specifications with the same weight on each value and presents them to customers as criteria of their selection. As for the product designs, the author proposes to exercise life cycle value engineering (LCVE), broadening value engineering (VE). LCVE intends to achieve the improvement of the "global value" of the product as well as the cost reduction of each unit function.