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1. For federal contracts, what are the differences between a Value Engineering Proposal (VEP) and a...

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Civil Engineering

1. For federal contracts, what are the differences between a ValueEngineering Proposal (VEP) and a Value Engineering Change Proposal(VECP)? In your response, discuss what they entail and the profitshare to both parties under the VECP.
2. What are the advantages to the owner, if his/her A/E valueengineers every bit of design done in his/her offices? What otherrecourse does the owner have to optimize costs and what could bethe consequences to the A/E if he/she refuses to value engineerhis/her design?

please help ASAP

Answer & Explanation Solved by verified expert
3.7 Ratings (361 Votes)
Value Engineering Proposal Value Function Cost Value engineering is a systematic method to improve the value of a product or service Which would lower the projects lifecycle cost Its intended to reduce costs increase quality and improve service Whereas according to Federal Acquisition Regulation FAR FAR Part 48 Value Engineering Change Proposal VECP is a proposal submitted by a contractor seeking changes in the contract observed by provisions of    See Answer
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