The Function Analysis Systems Technique (FAST) is a core method used during the function analysis phase of a Management of Value (MoV) study. Its primary output is a FAST diagram, which is a graphical representation of a project's or product's functions. This diagram logically organizes functions into a hierarchy by asking 'How?' and 'Why?' for each function, thereby clarifying their interrelationships and dependencies. This visual model helps the team understand the fundamental purposes and ensures all essential functions are identified before seeking value improvements.

B. A detailed proposal to improve value is an output of the later 'Develop proposals' phase of the MoV process, not the FAST technique itself.

C. A diagram showing information flows and responsibilities describes tools like process flowcharts or RACI matrices, which are distinct from the function-based logic of a FAST diagram.

D. An analysis of current equivalent values of future cash flows describes financial evaluation techniques, such as Net Present Value (NPV), used during the 'Evaluation' phase of MoV.

1. AXELOS. (2010). Management of Value (MoV®). The Stationery Office (TSO).

Section 4.3.2, Function analysis, page 41: "The most common method for doing this is the Function Analysis System Technique (FAST), which produces a FAST diagram... The FAST diagram links functions in a logical sequence using ‘how-why’ logic."

Figure 4.5, page 42: Provides a visual example of a FAST diagram, explicitly showing the hierarchical and logical linking of functions.

2. SAVE International. (2015). Value Standard and Body of Knowledge.

Section 3.3.2, Function Analysis System Technique (FAST) Diagramming: "FAST is a diagramming technique to show the logical relationships between the functions of a project, product, or service... The output is a FAST diagram." This confirms the output is a diagram representing function logic and hierarchy.