Sec. 7. Value engineering and risk assessment
195 words·~1 min read·
/bill/117/hr/1252/ih/section-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 Policy Directive and Standard Operation Procedure, dated May 24, 2017, on conducting risk management studies on all international construction projects. Any operating plan that includes the allocation of capital construction and maintenance funds shall 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 management process described in subsection (a), or applicable successor process. The Secretary of State shall provide to the appropriate congressional committees upon request— a description of each risk management study referred to in subsection (a)(2) and a table detailing which recommendations related to each such study were accepted and which were rejected; and a report or briefing detailing the rationale for not implementing any such recommendations that may otherwise yield significant cost savings to the Department if implemented.