Sec. 602. Cost estimation
204 words·~1 min read·
/bill/113/hr/2616/ih/section-602·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
It is the sense of Congress that realistic cost estimating is critically important to the ultimate success of major space development projects. NASA has devoted significant efforts over the past five years to improving its cost estimating capabilities, but it is important that NASA continue its efforts to develop and implement guidance in establishing realistic cost estimates. The Administrator shall provide to programs and projects— guidance on whether and when an Independent Cost Estimate and Independent Cost Assessment should be used; and the criteria to be used to make such a determination.
Not later than 270 days after the date of enactment of this Act, the Administrator shall transmit to the Committee on Science, Space, and Technology of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate a report— describing efforts to enhance internal cost estimation and assessment expertise; identifying criteria used by programs and projects in determining whether and when to conduct an Independent Cost Estimate or Independent Cost Assessment; and listing the costs of each individual Independent Cost Estimate or Independent Cost Assessment activity conducted in fiscal year 2011, fiscal year 2012, and fiscal year 2013, the purpose of the activity, and key findings and recommendations.