The document discusses two methods for generating ideas and analyzing alternatives in value management: Six Thinking Hats and Life Cycle Costing. Life Cycle Costing looks at the total cost of ownership over the entire life of an asset or project, including initial costs as well as future costs of operation, maintenance, refurbishment and disposal, discounted to a net present worth for comparison. It can be used to analyze multiple alternatives and identify the one with the smallest net present worth as the optimal choice.