NASA Estimates $8.7 Billion To Fly Webb, Aviation Week
"Managers at NASA replanning the James Webb Space Telescope program after an independent cost analysis found it over budget and behind schedule have concluded it will cost about $8.7 billion to finish the telescope in time for a launch in 2018 and operate it at the Earth-Sun L2 Lagrange point for five years. An agency spokesman said Monday the revised figure -- an increase of $3.6 billion over NASA's most recent life-cycle-cost estimate for the big infrared space observatory -- includes all development, launch operations and science costs."
"JWST ISIM - Davila and Mehalick/551: The JWST Standing Review Board (SRB) outbrief to the project was held last Friday. The SRB heard from the project regarding the new baseline plan (including budget and schedule) for a launch date of fy18. The SRB reported that the new baseline plan for JWST was not viable due to lack of sufficient funding in fy11 and fy12, rapid ramp-up of support planned for fy13 and marginal reserves for the years fy13 fy18. The SRB was very complimentary of the new OTIS testing structure, and systems engineering take-over by GSFC."