The parameter analysis methodology of conceptual design is studied in this paper with the help of C-K theory. Each of the fundamental design moves is explained and defined as a specific sequence of C-K operators and a case study of designing airborne decelerators is used to demonstrate the modeling of the parameter analysis process in C-K terms. The theory is used to explain how recovery from an initial fixation took place, leading to a breakthrough in the design process. It is shown that the efficiency and innovative power of parameter analysis is based on C-space " de-partitioning ". In addition, the role of K-space in driving the concept development process is highlighted.