Cost optimization in the areas of procurement and technology is crucial for the company's results. This collected volume on best practices in value management and value engineering highlights the possibilities for product optimization and concrete cost savings. In addition to scientific explanations, the other contributions come from various industries and companies, providing a unique collection of practical experiences. Value contribution management through value management is viewed from both the procurement and technology perspectives and placed in a broader context. Numerous tools, methods, and opportunities allow interested practitioners for direct application. It also addresses the necessary qualifications of employees and important organizational aspects for sustainable implementation.