Target Value Designs (TVD) focus is on reducing the cost of a project without reducing the quality of the end product or extending the timetable. The team sets a cost target for the design and construction, which is usually the current estimate. TVD aims to achieve this goal by defining costs as a design limitation and not as a result of design. 
TVD process was created in the 1930s when manufacturers used it to reduce their production costs so that their final product would be in line with market prices. The TVD process continually optimizes the design to achieve the desired end product without running out of time or cost.
1 Terry Werth …’Using target value design: a short introduction‘… Accessed 03/04/2021