Value Engineering (VE) is a systematic process using a team from a variety of disciplines to improve the value of a project through the analysis of its functions. The VE process incorporates, to the extent possible, the values of design; construction; maintenance; contractor; state, local and federal approval agencies; other stakeholders; and the public.

Projects with a total estimated cost (construction, right of way, preliminary engineering, utilities, etc.) over $25 million and any bridge project over $20 million must have a VE Study.