Assembly processes are undergoing frequent changes as a result of the current drive for agility and rapid product solutions. These changes induce complexities and dynamics in the survival of most Manufacturing Enterprises (MEs). To remain competitive, MEs have to continuously and flexibly adjust through the redesign and organisation of their manufacturing and assembly processes as well as resource elements, with the aim to improve ‘cost’ and ‘values’ generated. Cost and values are part of key performance indicators necessary for determining the economic viability of assembly processes. The paper therefore presents a methodology capable of capturing, modelling and using information related to cost and value generation for in-depth assembly process analysis. This form of analysis can help determine assembly process efficiency and therefore support the selection or redesign of assembly processes for maximum value realisation at minimal cost.