OFPP To Revamp Guidelines On 'Value Engineering' Savings

Law360, New York (June 11, 2012, 9:47 PM EDT) -- The Office of Federal Procurement Policy has proposed changes to government-wide guidelines on value engineering, seeking to boost agencies' use of a decades-old cost-saving tool by making it more relevant to modern contracting, according to a Friday Federal Register notice.

Value engineering is a way of analyzing the function and cost of everything from tools, systems, and equipment to services, with an eye towards achieving the essential functions at the lowest prices. Both agencies and government contractors use value engineering to seek savings, and contractors who...
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