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

This clearance covers the information that contractors must submit to comply with the following FAR requirements: FAR 52.248-1, Value Engineering; 52.248-2, Value Engineering-Architect-Engineer; and 52.248-3, Value Engineering-Construction. These clauses require contractors submitting Value Engineering Change Proposals (VECP’s) to the Government to provide such details as: a description of the differences between the existing contract requirement and the proposed requirement, and the comparative advantages and disadvantages of each; a list and analysis of contract requirements that must be changed if the VECP is accepted; a detailed cost estimate showing anticipated reductions associated with the VECP; a statement of the time a modification accepting the VECP must be issued to achieve maximum cost reduction, and the effect on contract completion time; and identification of any previous submissions of the VECP; the agencies and contract numbers involved and previous Government actions, if known.

The latest form for Value Engineering Requirements; FAR Sections Affected: 52.248-1; 52.248-2; and 52.248-3 expires 2028-07-31 and can be found here.