Sec. 708. Cost estimation

299 words·~1 min read·/bill/113/hr/4412/unknown/section-708

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It is the sense of Congress that realistic cost estimating is critically important to the ultimate success of major space development projects. The Administration has devoted significant efforts over the past five years to improving its cost estimating capabilities, but it is important that the Administration continue its efforts to develop and implement guidance in establishing realistic cost estimates. The Administrator shall provide to programs and projects and in a manner consistent with the Administration’s Space Flight Program and Project Management Requirements— guidance on 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; describing the mechanisms the Administration is using and will continue to use to ensure that adequate resources are dedicated to cost estimation; listing the steps the Administration is undertaking to advance consistent implementation of the joint cost and schedule process; identifying criteria used by programs and projects in determining when to conduct an Independent Cost Estimate and 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; identification of the primary Administration unit or outside body that conducted the activity; and key findings and recommendations.

Subsequent to submission of the report under subsection (c), for each subsequent year, the Administrator shall provide an update of listed elements in conjunction with subsequent congressional budget justifications.