Sec. 207. Value engineering and risk assessment

222 words·~1 min read·/bill/115/s/1631/rs/section-207

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Congress makes the following findings: Federal departments and agencies are required to use value engineering

(VE)as a management tool, where appropriate, to reduce program and acquisition costs pursuant to OMB Circular A–131, Value Engineering, dated December 31, 2013. OBO has a Standard Operation Procedure, dated March 7, 2005, on conducting risk assessment studies in the International Project Risk Assessment

(IPRA)method on all international construction projects. The proposed allocation of capital construction and maintenance funds that is required by the Committees on Appropriations not later than 45 days after the date of the enactment of an Act making appropriations for the Department of State, foreign operations, and related programs shall also be submitted to the Committee on Foreign Relations of the Senate and the Committee on Foreign Affairs of the House of Representatives . The notifications required under paragraph

(1)shall include confirmation that the Department has completed the requisite VE and risk assessment studies described in subsection (a). The Department shall provide to the appropriate congressional committees upon request— a description of each recommendation from each study described in subsection

(a)and a table detailing which recommendations were accepted and which were rejected; and a report or briefing detailing the rationale for not implementing recommendations made by VE studies that may yield significant cost savings to the Department, if implemented.