Past President

David E. Stem is the Aircraft and Weapons Division Chief at the Air Force Cost Analysis Agency (AFCAA) and has been working in the field for the past 25 years. He oversees the efforts of 28 analysts in four geographically separate locations performing service cost estimate for milestone decisions, annual estimates for budget formulation, and cost research to improve future cost estimating. Since joining AFCAA in 2006, Mr. Stem has worked on some of the largest major defense acquisition programs in the Air Force such as the F-35, B-2 modernization upgrades, the C-5 Reliability Enhancement and Reengining program, and the MQ-9 Reaper program. Prior to working for AFCAA, Mr. Stem researched various aircraft acquisition topics with a focus on cost implications while working for the RAND corporation.  His published studies include a report on the lessons learned from the development of the F/A-22 and F/A-18E/F programs, estimating methods for predicting the costs of systems engineering and program management, cost issues for aircraft avionics and radars, and several specific program cost studies for the Air Force.  Before joining RAND, Mr. Stem worked as a Staff Specialist at the Office of Secretary of Defense (Acquisition, Technology & Logistics) on weapons, cargo, and tactical aircraft programs coordinating the acquisition reviews as programs proceeded for major acquisition decisions.  Previous to this assignment, Mr. Stem worked as a cost analyst at the Naval Center for Cost Analysis (NCCA) leading the development of independent estimates on the F/A-18E/F and the Advanced Electronically Scanned Array (AESA) programs.  He also performed several independent cost analyses of support aircraft and avionics programs.  Mr. Stem began his career at the Naval Air Systems Command working in the cost department developing early program estimates for the Joint Strike Fighter and the Joint Standoff Weapon systems.  While still finishing his Bachelors program, Mr. Stem worked as an associate engineer designing and testing gas turbine engines at Textron Lycoming.

In addition to his direct work experience, Mr. Stem is an active member of the International Cost Estimating and Analysis Association (ICEAA) and has held several positions on the Washington chapter board of directors including President, Vice President, Treasurer, and Programs Chairman. He is Level III certified for Business Cost and Financial Management (BCFM) by the Defense Acquisition University (DAU), Level III Certified Acquisition Professional in Business-Cost Estimating and Level III DoD FM certification. Mr. Stem holds a masters degree in business administration with a finance concentration and a BS in aerospace engineering from Virginia Tech. In addition, he has taken several courses at the Naval Postgraduate School towards a aerospace engineering masters. He has also briefed several times at the DoD Cost Analysis Symposium and the ICEAA (formerly SCEA) National Conference.


Virginia Polytechnic Institute & State University                   BS Aerospace Engineering             1989

Virginia Polytechnic Institute & State University                   Masters Business Admin               1991

Naval Postgraduate School (classes toward degree)             Masters Aerospace Engineering   1994


  1. Feb 2013 – Present, Aircraft & Weapons Division Chief, Air Force Cost Analysis Agency
  2. May 2007 – Feb 2013, Branch Chief Aircraft Division, Air Force Cost Analysis Agency
  3. October 2006 – May 2007, Operations Research Analyst, Air Force Cost Analysis Agency
  4. December 2002 – October 2006, Full Cost Analyst, RAND Corporation
  5. October 2001 – October 2002, GS-14 Staff Specialist, OSD(AT&L) / Defense Systems / Air Warfare
  6. August 1997 – December 2002, GS-14 Operations Research Analyst, Naval Center for Cost Analysis
  7. May 1991 – August 1997, GS-13 Industrial Engineer, Naval Air Systems Command
  8. June 1988 – September 1988, Associate Engineer, Textron Lycoming