National Aeronautics and Space Administration

Investment Portfolios: The Business Case for Commercial Crew

PM ChallengeFebruary 10, 2011

Karen LuchtDennis StoneMichelle Green

The Investment Portfolio Approach• Shift in policy from Government-managed

programs to Government-managed portfolio

• Financial analyses are conducted prior to committing investment funds– Variables of the analyses include:• Market demand• Available services, competition• Pricing• Required capital investments

The Business Case

Challenges to Achieving a Strong Business Case

• Required infrastructure• Technical complexity• Schedule• Customer demand• Liability

Opportunities• Collaboration between Industry and Government– Accessibility to assets– Standardization– Allocation of property rights– Allocation of liability