OMB Updates Circular A-131, Directs Agencies to Use Value Engineering
Twenty years after its initial major revision in 1993, at the conclusion of December 2013, the Office of Federal Procurement Policy (OFPP) in the Office of Management and Budget (OMB) issued a final revision to OMB Circular A-131, Value Engineering.
OMB issued the revisions “to update and reinforce policies associated with the consideration and use of value engineering (VE),” by federal agencies, the notice in the Federal Register states.
OMB first issued Circular A-131 in 1988, revised it in 1993 to require use of VE as a management tool, and also issued several memoranda throughout the 1990s encouraging its use.
“Despite the demonstrated ability of VE to facilitate more fiscally responsible management and smarter buying, and its continued popularity in the private sector,” the Federal Register posting states, “federal agency use of VE has waned in recent years.” With issuance of the final revision OMB is attempting to kickstart usage of VE.
To access the complete, final revised version of OMB Circular A-131, Value Engineering, click here.
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