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Product Development value stream includes all the activities, value added and non value added, for designing and developing a product. It is characterized by flow of knowledge that drives the decisions, and deals with how the product is conceptualized, architected and designed by the design teams. The intangible flow of knowledge is determined by knowledge value stream, which shapes how the raw concepts and ideas flow into mature knowledge, how the knowledge is socialized, internalized, and how the knowledge impels the decisions in the product development value stream. For complex products, the design teams encounter tough challenges, such as uncertainty and variability, while making design decisions. This paper proposes a framework for knowledge value stream for complex product design decisions. The framework encompasses knowledge cadence and learning cycles as its core elements and incorporates rudiments for complex product design such as uncertainty, variability and perceptions. It helps in managing uncertainty and variability and evolving the required knowledge to drive optimal decisions during the design of complex products. It advocates a phased model for framework deployment towards establishing and progressively maturing the knowledge value stream., Comment: 31 pages, 25 Figures. A preliminary version of this work was presented in 2017 IEEE Technology & Engineering Management Conference (TEMSCON), which took place on June 8-10, 2017 in Santa Clara County, CA, USA. Subsequently, the work has significantly evolved, expanded in scope and progressed to its present form in this submission