Challenging the Navy’s numbers

Since the Defense Department faces the need to reduce expenditures, here is one suggested new year's resolution: Make the military services have a mandatory 80 percent confidence level in their estimated costs of a new weapons systems before major funding is approved.

What is a "confidence level?" the average taxpayer might ask. It is something the services have been doing for years but without much publicity. It is the percentage guesstimate by which the military service believes the cost it puts forward for a new, major acquisition will actually hit that figure.

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Jia Lynn Yang 30 Dec, 2011
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Source: http://feeds.washingtonpost.com/click.phdo?i=8d24c0f1364c1098258c910ae628c4c7
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