« Back to Glossary Index

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
contracts in-progress.
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:
        (A) In
deliverable end item quantities only;
        (B) In
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
        (C) To
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).

« Back to Glossary Index

Pin It on Pinterest

Share This