CSI uses the term value analysis or value engineering to describe a structured, function-oriented process that examines the relationship between:

The functions a building element or system must perform, and

The cost of achieving those functions

The objective is to improve value, which can mean:

Reducing initial cost without reducing required performance or quality

Reducing life-cycle cost (operation, maintenance, replacement)

Improving performance, quality, durability, or maintainability for a similar cost

Therefore, value analysis can be used:

“To enhance project value or reduce initial or long-term cost.” (Option B)

CSI stresses that value analysis is not simply “cheapening” the project; it is a disciplined decision-making process that balances cost and function to achieve the best overall value for the owner.

Why the other options are not correct in CSI terms:

A. To provide the owner with the lowest construction cost.The lowest first cost is not the sole or primary goal under CSI’s view. An excessively low first cost may sacrifice performance or significantly increase operation and maintenance costs. Value analysis focuses on best value, not just cheapest construction.

C. A phase for future work to allow higher quality items up front.Value analysis is a process or technique, not merely a “phase for future work.” It also does not inherently mean you always choose higher quality up front; sometimes it leads to lower initial cost, sometimes to better performance, sometimes a balance.

D. To change the perceived value by owner and stakeholder.While owner and stakeholder perception matters, CSI presents value analysis as a technical, function-and-cost-based method, not just a way to change perceptions. The goal is objective improvement of value, not merely altering how the project is perceived.

Key CSI-aligned references (no URLs):

CSI Project Delivery Practice Guide – sections on Value Analysis/Value Engineering in design and preconstruction phases.

CSI CDT Body of Knowledge – topics on cost, value, life-cycle thinking, and decision-making.

CSI-related discussions of life-cycle cost and value in project decision processes.