VALUE ENGINEERING FOR FEDERAL AGENCIES.

SEC. 4306. VALUE ENGINEERING FOR FEDERAL AGENCIES. (a) Use of Value Engineering.— The Office of Federal Procurement Policy Act (41 U.S.C. 401 et seq.), as amended by section 4203, is further amended by adding at the end the following new section: “SEC. 36. VALUE ENGINEERING. “(a) In General.— Each executive agency shall establish and maintain cost-effective value engineering procedures and processes. “(b) Definition.— 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.”. 110 STAT. 666 (b) Clerical Amendment.— The table of contents for such Act, contained in section 1(b), is amended by adding at the end the following new item: “Sec. 36. Value engineering.”.