In our society everything revolves around the notion of VALUE. In engineering the Value is the judgment made on the product, based on user expectations and motivations, expressed by a dimension that increases or remains at least equal when the satisfaction of user needs increases and/or the product related expenses decrease. Based on the experience in the field of the Value Analysis approach, the authors suggest a new method for optimizing the selection of materials. In this paper the authors highlight and present: – the Value Analysis approach, – a valid and useful guide for the specialists to optimize the value/cost ratio of the alloys for equipment parts. Therefore, apparently a part, a component of an alloy could not be approached using the Value Analysis approach. However, if we penetrate within its structure, at micro level we notice that our part is made of several constituents, of several components. In the case of an assembly with several constituents/alloying elements we can apply the Value Analysis approach to this assembly, which is the alloy of the part. This approach, to the knowledge of the authors, is unique and the first of this kind in the specialty literature.