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                            HUDAR
                            PART 2448 - VALUE ENGINEERING
        
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HUDARPart Number: 2448
        
                  

                                
                  
        HUD Acquisition Regulation
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PART 2448 - VALUE ENGINEERING       Authority:                            40 U.S.C. 486(c); 42 U.S.C. 3535(d).          Source:                            71 FR 2437, Jan. 13, 2006, unless otherwise noted.                                       2448.102 Policies.                                          2448.103 Processing value engineering change proposals.                                          2448.104-3 Sharing collateral savings.    **Parent topic:**  SUBCHAPTER G - CONTRACT MANAGEMENT2448.102 Policies.       (a) The authority of the agency head to exempt contracts from including Value Engineering (VE) procedures and processes under 48 CFR 48.102(a) is delegated to the HCA for individual (case-by-case) exemptions and to the Senior Procurement Executive for class exemptions.          (b) The Senior Procurement Executive is responsible for managing and monitoring HUD's VE efforts.2448.103 Processing value engineering change proposals.       Upon receipt of a Value Engineering Change Proposal (VECP), the Contracting Officer shall promptly forward it to the program office responsible for the contract, indicating:          (a) The date the VECP was received;          (b) The date by which the contractor must be informed of the government's acceptance or rejection of the VECP, unless additional time is required for evaluation;          (c) The date by which the Contracting Officer must know of the technical officer's decision in order to timely accept or reject the VECP;          (d) The need for information required to inform the contractor if the VECP is to be rejected or if additional time is needed to evaluate the VECP;          (e) The potential for awarding concurrent, future, or collateral savings to the contractor, if the VECP is accepted;          (f) That if the VECP is accepted, precise information will be needed with regard to the type of savings, and government costs, that can be expected from its acceptance;          (g) The need for a procurement request setting forth the specification changes to be used in a contract modification accepting the VECP in whole or in part; and          (h) The need for additional funds, if acceptance of the VECP will result in an increase in the cost of contract performance.2448.104-3 Sharing collateral savings.       (a) The authority of the HCA to determine that the cost of calculating and tracking collateral savings will exceed the benefits to be derived under 48 CFR 48.104-3(a) is delegated to the Contracting Officer.
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