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Lockheed Martin Loses DoD Certification For Aircraft Cost-Tracking

DDN

Wednesday, October 6th, 2010

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By Marina Malenic A management tool used by Lockheed Martin's [LMT] aircraft unit to track program costs yesterday lost its Pentagon certification due to "system deficiencies" and delayed action in correcting those problems, the Defense Department said yesterday. During annual surveillance conducted by the government at 11 Lockheed Martin sites, the company "was informed of deficiencies in their Earned Value Management Systems (EVMS)," said Pentagon spokeswoman Cheryl Irwin. Major government contractors are required to use EVMS to track spending by…

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