DOD Announces Value Engineering Achievement Award Winners
The Department of Defense presented the FY 2014 Department of Defense Value Engineering Achievement Awards today in a ceremony at the Pentagon.
Value engineering is a Department of Defense effort to continually analyze defense organizations, facilities, and processes to determine "best value," or the best relationship between worth and cost consistent with required performance, quality, and safety of essential functions and products. Value engineering contributes to the department's overall "Better Buying Power" initiative, which seeks to streamline operations, improve quality, and reduce or avoid costs.
The Value Engineering Achievement Awards Program provides an incentive for government and defense industry partners to improve the value of weapon systems and programs by promoting innovation and creativity. During FY 2014, the department executed in-house value engineering proposals and accepted contractor-initiated value engineering change proposals producing a combined actual savings and cost avoidance of $5.5 billion.
The Value Engineering Achievement Awards acknowledge outstanding achievement and encourage additional projects to improve government and contractor productivity. The department selected award winners in five categories: program/project, individual, team, organization, and special.
The individuals and teams recognized for their value engineering activities can be found here.