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IMMEDIATE RELEASE

Release No: 247-01
June 06, 2001

DOD PRESENTS 2001 VALUE ENGINEERING ACHIEVEMENT AWARDS

The 2001 Department of Defense Value Engineering Achievement Awards were presented today in a ceremony held at the Pentagon. David R. Oliver, principal deputy under secretary of Defense for acquisition, technology and logistics, made the presentations.

Value engineering is a systematic process to analyze functions in hopes of identifying actions to reduce the production or operations cost of systems, equipment, facilities, services, or supplies. The objective is to reduce total cost of ownership while retaining required system performance and quality.

"We continue to improve our value engineering program to make it a more viable tool to optimize the best values in total ownership cost and allow us to achieve all necessary performance better, faster, and cheaper," Oliver said. During last fiscal year, 1,757 in-house value engineering proposals and contractor-initiated value engineering change proposals were accepted with projected savings of $1.12 billion.

The Value Engineering Awards Program is a highly visible acknowledgment of exemplary achievements and encourages additional projects to improve in-house and contractor productivity. An award winner from each DoD component was eligible for selection in the following seven categories: 1.) program management; 2.) individual/team; 3.) procurement/contract administration; 4.) value engineering professional; 5.) field command; 6.) installation; and 7.) contractor. Additional "special" awards were given to recognize innovative applications or approaches that expanded the traditional scope of value engineering use.

Recipients of the 2001 Department of Defense Value Engineering Awards are listed on the Web at http://www.defenselink.mil/news/Jun2001/d20010606vea.pdf .