Raytheon Missile Systems Receives a Perfect Score in Earned Value Management Systems Audit

TUCSON, Ariz. (Map) - TUCSON, Ariz., Sept. 5, 2008 /PRNewswire/ -- Raytheon Company's (NYSE: RTN) Missile Systems business recently completed an Earned Value Management Systems compliance review by the Defense Contract Management Agency. DCMA auditors found that Missile Systems passed all 32 guidelines.

"Missile Systems is the first defense contractor of its size to achieve such success and is now a benchmark for the industry," said Dr. Taylor W. Lawrence, president of Raytheon Missile Systems. "Earning this award validates the thoroughness and integrity of our processes and reinforces our promise to always meet our customer commitments with the best possible program management and performance."

During the past several months, Missile Systems achieved the following Earned Value milestones:

-- Deployed an EV training and certification program - more than 900 Missile Systems employees are now EV certified

-- Developed and deployed an integrated automated tool suite for all programs, which ensures data integrity

-- Deployed an internal surveillance approach to assess and improve program schedules, which parallels DCMA criteria

-- Licensed an automated scheduling tool to subcontractors, resulting in integrated Raytheon and subcontractor EV data

-- Partnered with the DCMA and other customers to ensure EV is being used to help bring timely and affordable capabilities to the warfighter

After the compliance review, the DCMA audit team congratulated Missile Systems on the substantial investment the company has made in processes, tools and training.

"Missile Systems is now focused on deploying additional automated tools and new processes to make it easier and faster for program teams to manage their activities," said Lil Vayhinger, Raytheon Missile Systems vice president of Program Management Excellence.

Raytheon Company, with 2007 sales of $21.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 86 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 72,000 people worldwide.

Note to Editors:

DCMA reviewed Missile Systems in March and found the business compliant in 30 of 32 EV guidelines. In August, DCMA re-evaluated Missile Systems and determined the company had achieved 100 percent compliance in all areas.