Engineers, technologists and other project stakeholders need a methodology for identifying, analyzing and reconciling ethical concerns of end users at the beginning of systems and software life cycles. The purpose of this standard is to enable the pragmatic application of this type of Value-Based System Design methodology which demonstrates that conceptual analysis of values and an extensive feasibility analysis can help to refine ethical system requirements in systems and software life cycles. This standard will provide engineers and technologists with an implementable process aligning innovation management processes, IS system design approaches and software engineering methods to minimize ethical risk for their organizations, stakeholders and end users.