Value Engineering Applications in Transportation (2005) / Chapter Skim
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This assistance included staff training, study team participation, and program performance activities. Borkenhagan's article in Public Roads, "Value Engineering: An Incredible Return on Investment" (5)
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, requires all federal departments and agencies to use VE, where appropriate, to reduce program and acquisition costs. Circular A-131 also stipulated that each department or agency be required, as a minimum, to • Designate a senior management official to monitor and coordinate the VE activities, • Develop criteria and guidelines to identify programs and/or projects with the most potential to yield savings when VE is applied, • Assign responsibility to a senior management official to grant VE study requirement waivers for certain programs and/or projects, • Provide VE training to staff involved in VE, • Ensure that VE funding requirements are included in the annual OMB budget request, • Maintain documentation records pertinent to the VE program, • Adhere to applicable federal acquisition requirements, • Develop an annual VE program plan, and • Report VE activities to OMB on an annual basis if the annual total agency budget exceeds $10 million.
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of Recommendations N/A 2,003 2,082 2,017 2,013 2,344 2,144 12,603e Total Value of Recommendations N/A $3,084 $3,227 $3,483 $2,375 $3,050 $3,163 $18,382e No. of Approved Recommendations N/A 743 848 1,057 1,017 969 914 5,548e Value of Approved Recommendations $540 $770 $846 $1,128 $865 $1,043 $1,016 $6,208 Return on Investment 106:1 117:1 113:1 145:1 119:1 116:1 120:1 120:1 Source: Annual Federal-Aid Value Engineering Summary Reports (11)
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From page 10... ...
However, in-house costs are typically more difficult to track because many agencies are generally not able to fully consider the total cost of staff time or to reflect the true value of the expertise to the project. The FHWA "racing form" (11)
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Average Cost per Study TABLE 2 FEDERAL-AID VALUE ENGINEERING STUDY COSTS FOR 10 MOST ACTIVE STAs PERFORMING VE ESTIMATES, 1999–2003
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