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OCR for page 115
APPENDIX E Public Law 104-106, Section 4306 Value Engineering for Federal Agencies SEC. 4306. VALUE ENGINEERING FOR FEDERAL AGENCIES. (a) Use of Value Engineering.-- The Office of Federal Procurement Policy Act (41 U.S.C. 401 et seq.), as amended by section 4203, is further amended by adding at the end the following new section: ' SEC. 36. > VALUE ENGINEER[NG. ' (a) In General.--Each executive agency shall establish and maintain cost- effective value engineering procedures and processes. '' (b) Def~nition.--As used in this section, the term value engineering' means an analysis of the functions of a program, project, system, product, item of equipment, building, facility, service, or supply of an executive agency, performed by qualified agency or contractor personnel, directed at improving performance, reliability, quality, safety, and life cycle costs.". t~Page ~ 10 STAT. 6663] (b) Clerical Amendment.--The table of contents for such Act, contained in section I(b), is amended by adding at the end the following new item: ''Sec. 36. Value engineering.". 115

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