WASHINGTON, Sept 16 The Pentagon said on Monday
that it has reduced its withholding of progress payments on
Lockheed Martin Corp's F-35 fighter jet program to 2
percent from 5 percent after the company got a passing grade on
15 of 16 tasks required to fix a deficient internal business
Joe DellaVedova, spokesman for the Pentago's F-35 program
office, said the action had been taken at the end of August. He
had no details on the exact amount of money affected by the
decision by the Defense Contracts Management Agency (DCMA).
No comment was immediately available from the agency.
DCMA increased the withholding last year to 5 percent from 2
percent after the company failed to make timely and significant
progress on problems with its earned value management system,
which helps the company track cost, schedule and other risks to
the program. The DCMA has been critical of Lockheed's earned
value management system since 2007.