(a) In General.—Not later than October 15 of each year, the Commandant of the Coast Guard shall provide to the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate a briefing regarding a current assessment of the risks associated with all current major acquisition programs, as that term is defined in section 5103(f).

Terms Used In 14 USC 5107

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.

(b) Elements.—Each assessment under this subsection shall include, for each current major acquisition program, discussion of the following:

(1) The top five current risks to such program.

(2) Any failure of such program to demonstrate a key performance parameter or threshold during operational test and evaluation conducted during the previous fiscal year.

(3) Whether there has been any decision in such fiscal year to order full-rate production before all key performance parameters or thresholds are met.

(4) Whether there has been any breach of major acquisition program cost (as defined by the Major Systems Acquisition Manual) in such fiscal year.

(5) Whether there has been any breach of major acquisition program schedule (as so defined) during such fiscal year.

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