Value Engineering Change definition

Value Engineering Change means a proposal that provides for a product of equal or improved quality to the product required by the department and that will reduce the project cost, improve safety, or decrease the time to complete the project.
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Value Engineering Change means, for the Product, an alternative technical and/or engineering solution that alters the specification of the Product and provides equivalent or better functionality at a lower cost.
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Value Engineering Change means, for any Product, an alternative technical and/or engineering solution that provides equivalent functionality at a lower cost.
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Examples of Value Engineering Change in a sentence

  • The basic evaluation A/E evaluation criteria includes but is not limited to how well did the firm stay within project cost parameters, schedule, were Value Engineering Change Proposals submitted, and were there errors or omissions.

  • The basic evaluation GC evaluation criteria includes but is not limited to how well did the construction contractor stay within proposed costs and schedule, were Value Engineering Change Proposals or other cost saving measures submitted, the quality of construction, and ability to manage the project effectively.

  • If the Value Engineering Change is jointly developed by Buyer and the JVC, the Parties will negotiate in good faith an equitable allocation of the cost savings which shall, in all cases, pass to Buyer through a Product price reduction no later than the next month following the month in which the Value Engineering Change was implemented.

  • If a Value Engineering Change is developed by the JVC and approved by Buyer, the cost savings shall be retained by the JVC for the month in which the JVC implemented the Value Engineering Change, plus five (5) succeeding quarters, and thereafter, the JVC will pass on the cost savings to Buyer through a Product price reduction.

  • A Value Engineering Change shall include an analysis of the constructability, cost, quality and schedule impact.

  • If a Value Engineering Change is developed by Buyer, the associated cost savings shall be passed on to Buyer immediately upon implementation.

  • This Section applies to any cost reduction proposal (hereinafter referred to as a Value Engineering Change Proposal or VECP) initiated and developed by the Contractor for the purpose of refining the Contract Documents so as to contribute to design cost effectiveness or significantly improve the quality of the Work.

  • The Value Engineering Change shall include an analysis of the constructability, cost, quality and schedule impact.

  • Metro encourages Contractor to submit Value Engineering Change Proposals ("VECPs") in order to avail Metro of potential cost savings that may result.

  • Value Engineering Change Proposals are be offered and administered in accordance with Article 26.


More Definitions of Value Engineering Change

Value Engineering Change means, for the Product, an alternative technical and/or engineering solution that alters the specification of the Product and provides equivalent or better functionality at a lower cost. The pricing model under this Agreement shall be an “Open Book” model, and therefore the JVC agrees to disclose to SPSW and AUO all costs incurred in connection with or under this Agreement, and the JVC shall provide, upon request by either of SPSW and AUO and at a mutually agreed upon frequency, system generated documentation to substantiate such costs as they were actually incurred. Pricing for Product to be offered to Buyer shall be on a per Watt basis set prior to the beginning of each month. At the end of the month, a per Watt True-Up Amount shall be calculated and applied as described below. Notwithstanding anything contained in this Exhibit A to the contrary, through the end of the second fiscal quarter of 2011, pricing and any per Watt True-Up Amount for Product shall be set and calculated on a quarterly basis. The pricing set prior the beginning of any given month with respect to Buyer shall be determined as follows: Price per Watt = ((Projected per Watt Fixed Cost + Projected per Watt Variable Costs) * (1 + Premium Percentage)), where: · Projected per Watt Fixed Cost allocated to Buyer is described below; · Projected per Watt Variable Cost allocated to Buyer is described below;
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Value Engineering Change means a change to design, technology or equipment used in the delivery of any Call Off and which it is anticipated will result in cost savings in delivering Call Offs;
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Value Engineering Change means, for the Product, an alternative technical and/or engineering solution that alters the specification of the
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