### Question
What does value engineering mean?


### Answer
**Value engineering** has the following meaning in *41 U.S.C. § 432*:

> 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

#### Citation:
  - *41 U.S.C. § 432*
  - Heading: **CHAPTER 7-OFFICE OF FEDERAL PROCUREMENT POLICY**

