A Framework for Value-optimized Design of Product Features

In this sense, based on empirical interviews with experts from the field of machinery and plant manufacturing industry as well as existing models for product planning, the aim of this paper is to present an analytical approach to value-optimized design of product features. For this purpose, value driver affecting the product planning as well as their relationships with each other and the relevant product characteristics were identified. The characteristics of the product features and the respective value driver were quantified and subsequently transformed into standardized utility and cost functions to determine the value that results for the company. The result was a framework for an analytical approach to determine the value-optimized characterization of product features based on an evolutionary algorithm, taking into account any relevant value driver.