Training
Provided by Lorman Education Services
BenefitsMany federal contractors are greatly focused on achieving cost reductions in their production processes, such as through lean manufacturing and
Six Sigma programs, to become more competitive and increase profits. However, few contractors take advantage of a contractual tool, the
Value Engineering ('VE') contract clause, which was established specifically to provide increased profits from cost reduction suggestions. Using a Value Engineering
Change Proposal ('VECP'), a contractor may suggest a contract change that, if accepted and implemented, provides cost savings to the
Government and a substantial share in those savings to the contractor. Contractors that do not understand the VE clauses and their specific submittal requirements will ultimately forego their share of potentially substantial cost savings. If the
VECP procedure is followed correctly, it provides a vehicle through which acquisition and operating costs can be reduced while the contractor's rate of return is increased. This teleconference helps contractors understand the purpose of VE clauses, and the proper manner to submit a VECP. Further, this teleconference will highlight notable VE case law, calling attention to hotly contested VE issues throughout the
Courts and Boards of Contract Appeals. Key suggestions for establishing successful VE programs within your company will be discussed. This teleconference is critical for contracting personnel so they can ensure that appropriately submitted VECPs will benefit the contractor, both in terms of increased efficiency, as well as financial gain.
Learning Objectives:
- You will be able to paraphrase VECP regulations.
- You will be able to discuss the purpose of VE clauses.
- You will be able to specify contested VE issues in the Courts and Boards of Contract Appeals.
- You will be able to plan successful VE programs in your company.
Engineers, presidents, vice presidents, construction and project managers, architects, city administrators, government officials, contractors, subcontractors and attorneys
| This is primarily teleseminar training |  | This class may be available at a classroom in Milwaukee, WI,
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 | Contact Lorman Education Services for more information |
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| Duration: | 1 days | | Training Presented in: | English |
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