Published in Last Word
The Federal Highway Administration (FHWA) has eased its Value Engineering (VE) restrictions on federal transportation grants to the states.
Under the new rules, states now must perform VE analysis on highway projects costing more than $50 million and bridge projects higher than $40 million. Previous rules required VE on highway projects over $25 million and bridge projects that cost more than $20 million. Projects delivered using design-build no longer require VE.
Value Engineering is an independent, multidisciplinary, systematic analysis of major projects during the concept and design phase to ensure that the desired safety, reliability, and efficiency are delivered at the lowest overall cost. According to FHWA, a VE study was conducted on 350 projects in 2012.
Click here for more information on Value Engineering from FHWA.
#Transportation