Societies are faced to ecological crises and widening disparities. This has to be integrated in the management of complex projects as they are increasingly complex and impactful. Value Analysis can serve assessing the value of a project i.e. knowing how the project will be perceived by the Stakeholders. It is a collaborative approach that helps make decisions in the early stages of a complex project. This paper aims at demonstrating that a new “Sustainable Value Analysis” (SVA) provides a decision-making support toward sustainability. SVA uses a new definition of Value and a set of indicators based on the Doughnut. Methods for the introduction of sustainability in the upstream design phases have limitations, which are highlighted in the literature review. Yet, the potentials of value approaches can be shown. Based on this analysis, an illustrative case is proposed to demonstrate how to integrate the ecological and social dimensions in a classical Value Engineering approach to determine SVA. The article concludes that the SVA allows identifying and characterizing the sustainable dimensions of Value, through a collective approach based on Stakeholders.