Emerging from a study in the European aerospace industry, this paper identifies a gap in the way value-related information is communicated to designers of hardware in the preliminary stages of Product Service System (PSS) design. To fit this gap a Lifecycle Value Representation Approach, named LiVReA, that uses color-coded 3D CAD models to enable value information to be translated into visual features, is presented. Such approach aims at enhancing designers’ awareness of the value contribution of an early design concept on the overall PSS offer by complementing requirements-based information with criteria reflecting the fulfillment of customers and system value. The paper details the development of the approach, its underlying rationale, the results of preliminary validation activities and the potential for industrial application in the light of the currently available PSS representation tools.