SAVE International will present the Golden Shears Award to the U.S. Department of State’s Bureau of Overseas Buildings Operations at a Capitol Hill reception tonight. Deputy Director Lydia Muniz will accept the award on behalf of the bureau.
The Golden Shears Award is presented to outstanding value engineering programs within the federal government and private industry. Over the past 25 years, this honor has been presented at 15 Congressional Education Receptions for Value Engineering. Recipients have included several federal agencies and private sector companies.
The Bureau of Overseas Buildings Operations has been conducting value engineering studies since 1987. The policy requires at least one value engineering study on all projects with construction cost of over $1 million.
Since the inception of the Value Engineering program through October 1, 2008, the Bureau conducted over 200 value engineering studies which have proposed over $1.5 billion in total life cycle savings. The studies saved an average of $45 for every one dollar invested in value engineering studies.
SAVE International is the premier international society devoted to the advancement and promotion of value engineering. Value engineering benefits include decreasing costs and improving quality.
The Bureau of Overseas Buildings Operations also received the Golden Shears award in 2005.
For further information, please contact Jonathan Blyth at BlythJJ@State.gov
or on (703) 875-4131.