What does VECP stand for?

During fiscal 2006, 3,473 in-house value engineering proposals and contractor-initiated value engineering change proposals were accepted with projected savings/cost avoidance in excess of $1.

Two examples of R-TOC illustrate how the Value Engineering Change Proposal (VECP) is used.

The contract was a result of a Value Engineering Change Proposal submitted by FATS in March 2002.

During fiscal year 2004, 1,723 in-house value engineering proposals and contractor-initiated value engineering change proposals were accepted with projected savings/cost avoidance in excess of $1 billion.

Possible methods are early identification through shared databases, inter-Service and inter-agency cooperation, and contractor participation; use of predictive tools; life of type buys; aggressive material improvement program and deficiency reporting programs; use of engineering change proposals (ECPs) and value engineering change proposals (VECPs) to upgrade and modernize components while maintaining interchangeability and F3 (form, fit, function); specialty manufacturers; reverse engineering; data rights; and drawing availability.

During fiscal year 2003, more than 3,280 in-house value engineering proposals and contractor-initiated value engineering change proposals were accepted with projected savings in excess of $858 million.

Value Engineering Change Proposal Provides Incentive to Redesign A value engineering change proposal (VECP) is a change proposal submitted to the government by a contractor in accordance with the VE clause in the contract.