Value Engineering

A structured technique commonly used in project management to optimize the overall value of the project. Often, creative strategies will be employed in an attempt to achieve the lowest life-cycle cost available for the project. The VE effort is a planned, detailed…

Document metadata
Field	Value
Definition 1	A structured technique commonly used in project management to optimize the overall value of the project. Often, creative strategies will be employed in an attempt to achieve the lowest life-cycle cost available for the project. The VE effort is a planned, detailed review/evaluation of a project to identify alternative approaches to providing the needed assets.
Definition 2	Value engineering is a proven management technique using a systemized approach to seek out the best functional balance between the cost, reliability, and performance of a product or project.
Categories	Administration, Business and Support Services, Finance, Procurement, Safety, Security
Term OPI	AU - Office of Environment, Health, Safety and Security, PM - Office of Project Management Oversight and Assessments
Definition type	Definition

Source 1:

DOE G 413.3-7A Chg 2 (LtdChg), Risk Management Guide

DOE O 413.3B Chg 7 (LtdChg), Program and Project Management for the Acquisition of Capital Assets

Source 2:

DOE G 430.1-1, Cost Estimating Guide

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