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IMMEDIATE RELEASE

Release No: 596-07
May 16, 2007

Department Of Defense Value Engineering Achievement Awards

            Deputy under secretary of Defense for Acquisition and Technology James Finley presented the annual Department of Defense Value Engineering Achievement awards during a ceremony today at the Pentagon.
 
            During fiscal 2006, 3,473 in-house value engineering proposals and contractor-initiated value engineering change proposals were accepted with projected savings/cost avoidance in excess of $1.6 billion.
 
            Value Engineering identifies actions that reduce cost, increase quality, and improves mission capabilities across the entire spectrum of DoD systems, processes, and organizations. The program continues to be an incentive for government and industry counterparts to improve the joint value proposition by promoting innovation and creativity. These innovative proposals seek best value solutions as part of a successful business relationship. 
 
            The Value Engineering Awards Program is an acknowledgment of exemplary achievement and encourages additional projects to improve in-house and contractor productivity. Award winners from each DoD component were eligible for selection in the following five categories: program/project, individual, team, organization, and contractor. Additional special awards recognized innovative applications or approaches that expanded the traditional scope of value engineering use.
 
            The list of awards recipients can be found at www.defenselink.mil/news/May2007/2006ValueEngineeringawardrecipients.pdf .

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