This paper highlights the principals of value management applied to the planned Guggenheim Museum in Abu Dhabi. The core of success was the use of function analysis, which is the unique element of the value methodology (VM). Both performance and life-cycle cost savings resulted from function inspired change. The techniques of VM as well and the resulting recommendations for value enhancement of the Guggenheim are described. The project is being managed by the Abu Dhabi Tourism Development & Investment Company (TDIC). The lead designer is Gehry Partners (Los Angeles, CA). The schematic VM workshop focused on a review of the site and building design efficiency, architectural and engineering systems effectiveness, sustainability, and life-cycle performance, and risks associated with the schedule and constructability. The VM team identified over 300 ideas for value enhancement.