Thirty years after its introduction in 1988, the Office of Management and Budget (OMB)’s Circular A-131 - Value Engineering (VE) continues to be a centerpiece of OMB’s guidance to Federal agencies in developing process improvements and cost savings to better meet 21st century expectations and demands. The updated Circular A-131 may be found here.

Today more than ever, the Federal government must ensure that it spends money wisely and eliminates waste and abuse of taxpayer dollars. With more than one out of every six dollars of Federal government spending going to contractors, it is imperative that contract actions result in the best value for the taxpayer.