27 May 2025
📊Federal Value Engineering Requirements
Submission for OMB Review; Value Engineering Requirements
Summary
Under the provisions of the Paperwork Reduction Act, the Regulatory Secretariat Division has submitted to OMB a request to review and approve an extension of a previously approved information collection requirement regarding value engineering requirements.
Agencies
- Defense Department
- General Services Administration
- National Aeronautics and Space Administration
- Federal Procurement Policy Office
- Management and Budget Office
Business Impact
$$ - Med
This document outlines compliance requirements for contractors regarding Value Engineering Change Proposals (VECPs) under federal procurement regulations. Businesses must adhere to these requirements to optimize cost reductions and enhance competitiveness, which directly impacts financial operations.