; and (3) promptly provide the validated requirements to the Program Executive Officer for the F–35 aircraft acquisition program. (b) Cost-benefit and technical risk analysis (1) In general Based on the requirements established and validated under subsection (a), the Program Executive Officer for the F–35 aircraft acquisition program shall conduct a complete and comprehensive cost-benefit and technical risk analysis that evaluates and determines the upgrades and modernization required of the F–35 aircraft system to support all of the requirements established under such subsection. (2) Elements The cost-benefit and technical risk analysis conducted under paragraph (1) shall assess, at a minimum, the cost, risk, modernization, integration activities, and acquisition strategy required for the upgrade and modernization options available for the following major subsystems of F–35 aircraft: (A) The aircraft propulsion system and gearbox. (B) The power and thermal management system. (C) The fuel thermal management system. (D) The electrical power system. (E) The engine ice protection system. (F) Mission systems hardware, avionics, sensors, and weapons. (G) Any additional systems of the F–35 aircraft system the Program Executive Officer determines to be relevant to support the planned service-life requirements for each variant of such aircraft. (3) Limitation on commencement The Program Executive Officer may not commence the analysis required under paragraph (1) until the requirements established under subsection (a) have been provided to the Officer. (4) Independent cost estimate In addition to developing the cost-benefit analysis under paragraph (1), the Program Executive Officer shall also obtain an independent cost estimate from an organization within the Department of Defense that is not directly associated with the Office of the Program Executive Officer, the Department of the Air Force, or the Department of the Navy. (5) Report Following the completion of the analysis under paragraph (1) and the independent cost