Valve Engineering Council Act of 1984

Value Engineering Council Act of 1984 - Establishes in the Office of Management and Budget the Value Engineering Council to conduct research, offer advice, provide study materials, and promote the use of incentives which will maximize productivity and minimize costs in executive agencies and private industry through value engineering.

Requires the Council to report to Congress and the Director of the Office of Management and Budget annually on its findings and on the savings generated from the application of value engineering proposals. Terminates the Council three years after its establishment, unless it is renewed by the Director.

Authorizes appropriations.