Value Engineering Requirements; FAR Sections Affected: 52.248-1; 52.248-2; and 52.248-3

FAR part 48, value engineering is the technique by which contractors (1) voluntarily suggest methods for performing more economically and share in any resulting savings or (2) are required to establish a program to identify and submit to the Government methods for performing more economically. These recommendations are submitted to the Government as Value Engineering Change Proposals (VECP’s).

The latest form for Value Engineering Requirements; FAR Sections Affected: 52.248-1; 52.248-2; and 52.248-3 expires 2022-04-30 and can be found here.