"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."
"Hubble's successor -- the James Webb Space Telescope (JWST) -- is in a heap of trouble. Things were already bad in October, when it was supposed to launch in 2014 and its price tag stood at $5 billion. Then in November, an independent review said its costs had risen to $6.5 billion and that it would not launch until 2015. Now, a review board says the 6-metre segmented telescope may not even get off the ground in 2018. A baseline plan that includes the telescope launching in fiscal year 2018 is "unfeasible", according to an internal memo from Goddard Space Flight Center in Greenbelt, Maryland, that was first disclosed today by NASAWatch."
Keith's note: According to NASA PAO: "NASA is still developing and discussing a new cost and schedule baseline plan for JWST. It's simply premature to make any conclusions until a plan is completed and reviewed within the agency and by an outside team of experts. This will ensure adequate levels of both cost and schedule reserves are in the appropriate years to successfully complete JWST development."