This report examines how well DoD is planning and executing its weapon acquisition programs. The report includes: (1) an analysis of the overall performance of DoD's 2008 portfolio of 96 major defense acquisition programs and a comparison to the portfolio performance at two other points in time -- 5 years ago and 1 year ago; (2) an analysis of current cost and schedule outcomes and knowledge attained by key junctures in the acquisition process for a subset of 47 weapon programs -- primarily in development -- from the 2008 portfolio; (3) data on other factors that could impact program stability; and (4) an update on changes in DoD's acquisition policies. Includes a one- or two-page assessment of 67 weapon programs. Illustrations.

In 2006, the cumulative cost growth in DoD¿s portfolio of 96 major defense acquisition programs was $296 billion and the average delay in delivering promised capabilities to the warfighter was 22 months. These are very poor outcomes. The auditor has used metrics to review the mgmt. and health of these programs from within the framework of best practices. This testimony discusses: (1) ¿knowledge metrics,¿ used to determine how well programs manage tech., design, and manufacturing risks; (2) outcome metrics -- concerning cost, schedule, and capability -- that serve as ¿health indicators¿ of how well programs are being executed in terms of predicted outcomes; and (3) the prerequisites that must be met in order for a program¿s plans and goals to be realistic.