Abstract : The acquisition system used by the Department of the Navy (DON) to procure new systems including software and material is mandated by the Department of Defense (DoD). The goal of the acquisition system is to insure that DON personnel have the best and most reliable hardware and software available to accomplish assigned missions. However, because of the complexity of modern day warfare, rate of change of technology, bottom line emphasis by commercial business, as well as regulatory restrictions both internal and external to the DoD, the acquisition system has become cumbersome and excessive. Accordingly the Assistant Secretary of the Navy (Research, Development and Acquisition) tasked the NRAC to examine current approaches to managing DON acquisition programs with a particular emphasis on technology acquisition. Specifically, the Panel was asked to recommend procedures and opportunities to streamline and improve technology acquisition subject to regulatory restrictions. The Panel found that there was no one item that in and of itself would reform acquisition. They did identify and discuss in detail six different areas that had the potential to streamline acquisition. More importantly, the Panel felt that the procedures could all be enacted with no new laws or regulations.