Value Engineering Paperwork Gets Three More Years
Published Date: 3/13/2025
Notice
Summary
The Department of Defense, GSA, and NASA want to keep collecting info about value engineering, which helps save money and improve projects. They’re asking the public to share thoughts on this info collection by May 12, 2025. If approved, this will continue for three more years with no new costs or big changes.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
Contractors must submit detailed VECPs
If you are a contractor submitting a Value Engineering Change Proposal (VECP), you must provide specific details such as: a description of differences between the contract requirement and the proposed change; comparative advantages and disadvantages; a list and analysis of contract requirements that must change; a detailed cost estimate showing anticipated reductions; the time a modification must be issued to maximize cost reduction and any effect on contract completion time; and identification of any previous submissions (including agencies and contract numbers).
Information collection continues; annual burden quantified
The agencies plan to continue collecting VECP information if OMB extends approval. OMB approval is currently through June 30, 2025, and the agencies propose extending it for three more years. The collection reports an annual burden of 90 respondents, 180 total annual responses, and 2,700 total burden hours each year. Comments on the collection are due by May 12, 2025.
Accepted VECPs lead to equitable sharing plans
When a VECP is accepted by the Government, the Government will use the information to evaluate the proposal and arrange for an equitable sharing plan with the contractor.
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Key Dates
Department and Agencies
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