target value design (TVD)

Target Value Design is an approach to design that systematically works to produce a design that creates the value the customer wants at the price they can afford by co-evolving design, price and production system

1. Design with a continually evolving estimate with input from the constructor.
   

2. Design for what is constructible with input from the constructor.
   

3. Design collaboratively — defining the issues and making decisions.
   

4. Decide at the last responsible moment — so that multiple options may be fully considered.
   

5. Design in pairs or a larger group face-to-face.
   
   

TVD creates a real-time design conversation involving owners, end-users and constructors.

For a longer, but brief, overview read this article by Dr Glenn Ballard in the Lean Construction Journal