Elements and Performance Criteria
- Analyse customer benefits to determine appropriate or waste costs
- Analyse product or service to determine features/benefits perceived by customer in product
- Analyse cost components of product or service and determine those which deliver customer features/benefits and those which are either appropriate or waste
- Determine any additional features that may be added to improve saleability
- Analyse waste cost components and allocate to direct and indirect cost categories
- Determine options for reducing direct and indirect waste costs
- Select cost-related actions which maximise customer benefits and minimise costs
- Where required, undertake competitor benchmarking to provide reference points