41 U.S.C. § 432 : US Code - Section 432: Value engineering

Search 41 U.S.C. § 432 : US Code - Section 432: Value engineering

(a) In general
Each executive agency shall establish and maintain cost-effective
value engineering procedures and processes.
(b) "Value engineering" defined
As used in this section, the term "value engineering" means an
analysis of the functions of a program, project, system, product,
item of equipment, building, facility, service, or supply of an
executive agency, performed by qualified agency or contractor
personnel, directed at improving performance, reliability, quality,
safety, and life cycle costs.