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Pentagon withholding payments from six weapons makers
Source: Reuters
Pentagon withholding payments from six weapons makers
WASHINGTON | Wed Oct 16, 2013 5:47pm EDT
(Reuters) - The U.S. Defense Department is withholding payments from six arms makers for problems with their internal business systems, including Lockheed Martin Corp, Northrop Grumman Corp and two United Technologies Corp units.
The Pentagon's Defense Contract Management Agency (DCMA) stepped up enforcement of rules for the business systems that companies use to track cost and schedule information under a 2011 change in federal acquisition rules.
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Congress and top Pentagon officials have tried to increase oversight of major weapons programs in recent years after billions of dollars of cost overruns and schedule delays that affected nearly ever major weapons program.
Urban said the agency was withholding payments ranging from 2 percent to 5 percent from two Lockheed units, two United Technologies units, Northrop, and AAI Corp, a unit of Textron Inc, for problems with their respective "earned value management systems," or EVMS.
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WASHINGTON | Wed Oct 16, 2013 5:47pm EDT
(Reuters) - The U.S. Defense Department is withholding payments from six arms makers for problems with their internal business systems, including Lockheed Martin Corp, Northrop Grumman Corp and two United Technologies Corp units.
The Pentagon's Defense Contract Management Agency (DCMA) stepped up enforcement of rules for the business systems that companies use to track cost and schedule information under a 2011 change in federal acquisition rules.
[font size=1]-snip-[/font]
Congress and top Pentagon officials have tried to increase oversight of major weapons programs in recent years after billions of dollars of cost overruns and schedule delays that affected nearly ever major weapons program.
Urban said the agency was withholding payments ranging from 2 percent to 5 percent from two Lockheed units, two United Technologies units, Northrop, and AAI Corp, a unit of Textron Inc, for problems with their respective "earned value management systems," or EVMS.
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Read more: http://www.reuters.com/article/2013/10/16/us-pentagon-companies-withholding-idUSBRE99F16X20131016
