Value Engineering Change Proposal (VECP) is a contractual mechanism
provided by Federal, state, and private businesses. It gives a
financial incentive to get contractors and subcontractors to reduce the
immediate and subsequent cost of systems, supplies, and services for
Means a proposal that:
(i) Requires a change to the instant
contract to implement; and
(ii) Results in reducing the overall
projected cost to the agency without impairing essential functions or
characteristics, provided, that it does not involve a change:
deliverable end item quantities only;
research and development (R&D) items or R&D test
quantities that are due solely to results of previous testing under the instant contract; or
the contract type only.
For use in the clauses at: (i) 52.248-2, see the definition at
52.248-2(b); and(ii) 52.248-3, see the definition at 52.248-3(b).