Laws & Policies

Public Law 111-350

- 1711. Value Engineering

Each executive agency shall establish and maintain cost-effective procedures and processes for analyzing the functions of a program, project, system, product, item of equipment, building, facility, service, or supply of the agency. The analysis shall be:

performed by qualified agency or contractor personnel;

directed at improving performance, reliability, quality, safety, and life cycle costs.

OMB Circular A-131

Federal Acquisition Regulation (FAR)

Published VE standards are available for purchase at

  • ASTM E1699-13 Standard for Performing Value Engineering (VE)/Value Analysis (VA) of Projects, Products and Processes
  • ASTM E2013-12 Standard Practice for Constructing FAST Diagrams and Performing Function Analysis During Value Analysis Study

Generic Corporate VM Policy