§ 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.