Value Management is a creative, problem-solving process that uses a methodical approach to include the necessary parties and, working together, achieve the best solutions for value from construction. This publication covers one of the fundamental techniques of the VM process, function analysis, and the Function Analysis Systems Technique (FAST). It also contains contact details for other organisations with information or tools available to support VM. One in a series of four titles available as a set, reference AP135. 12 pages.