This student guide is intended to assist persons employed as supervisors in mastering the technique of value analysis. Discussed in the first three sections are the following topics: the aims and benefits of value analysis; procedures and techniques (getting started, stages of value analysis, analytical and creative thinking, and other devices); and value analysis in action (human relations and communications and procedures in organizing for value analysis). Each of these sections contains an introduction, instructional text that is interspersed with reinforcing learning activities, and a section summary. The fourth part of the guide includes a series of performance checks (an end check, a tutor check, and a work-based project). A unit review, which also includes a description of related extension courses and resources, concludes the guide. (MN)