Lean product development has been developed and deployed in an effort to enhance company operations. Understanding value is the first step to becoming 'Lean'. However, the mere translation of value from its conventional interpretation in lean production as ``something the customer will pay for`` does not equate to an effective value orientation in product development (PD). In order to better understand the theoretical context of PD value in research, as well as the potential application of a value orientation in practice, further study is necessary. This paper aims to broaden the understanding of PD value by discussing by linking roles in value creation and delivery to different contexts and phases of the product life cycle.
Motivation and RequirementsProduct development processes have a critical impact in determining the success of an organisation. This is due to their consumption of approximately 75% of the organisation's resources (Millard, 2001) and their role in materialising the product's specifications (McManus, 2005). Therefore, various tools have been adopted to facilitate management and improvement of product development processes, such as the Design Structure Matrix (DSM) and lean value-oriented approaches. However, because of the complexity of product development and the high levels of uncertainty associated with it, these improvement efforts can be difficult (e.g. Pessoa, 2004). Moreover, available support (e.g. methodologies, methods, tools, recommendations and guidelines) are either very abstract, thus needing adaptation before application in a specific context, or they are very