This handbook provides guidance based on best practices for the planning, preparation, review, reporting, and closeout of Standing Review Board (SRB) activities. Revision C updates the Revision B version of the SRB Handbook published in 2016 to incorporate updates to NASA Procedural Requirements (NPR) 7120.5F, NASA Space Flight Program and Project Management Requirements. These updates include: - Changing the Dissenting Opinion process to the Formal Dissent process, which retains the current process augmented with an expedited escalation path. - Updates to requirements for establishing an Agency Baseline Commitment (ABC) and for performing Joint Cost and Schedule Confidence Level (JCL) analyses for tightly coupled programs. - Additional requirements for performing a JCL analysis for single-project programs and projects over $1B Life-Cycle Cost (LCC). - Use of initial capability cost estimates instead of LCC estimates in specific, identified instances for single-project programs and projects that plan continuing operations and production, including integration of capability upgrades, with an unspecified Phase E end point. These single-project programs and projects define an initial capability during Phase A and develop an initial capability cost that establishes the ABC at Key Decision Point (KDP) C. Initial capability is the first operational mission flight (or as defined in the KDP B Review Plan) and is documented in the KDP B Decision Memorandum. Initial capability cost includes operations cost for the initial capability. The Phase E cost estimate for continuing operations and production is established separately as part of the Operational Readiness Review (ORR) and KDP E for the 5 years after initial capability and subsequently updated and documented annually for the next 5-year period. Upgrades during Phase E that meet the Agency criteria for a major project for external reporting are treated as projects for the purposes of establishing their own development ABC outside the Phase E cost estimate. The Phase E cost estimate is updated to include production and operations costs associated with these upgrades. Development, production, and operations costs of other (i.e., non-major) upgrades are included in the Phase E cost estimate. (See NPR 7120.5, Sections 2.4.1.5 and 2.4.1.6 and the NASA Space Flight Program and Project Management Handbook (PM Handbook), Section 5.5.4 for additional information.) The scope of the SRB’s assessment with respect to initial capability, Phase E cost estimate, and major upgrades for these single-project programs and projects is defined in the Terms of Reference (ToR).