WASHINGTON, July 26 (Xinhua) -- The U.S. space shuttle Endeavour is ready to fly, NASA managers concluded Thursday after wrapping up the two-day flight readiness review at Kennedy Space Center in Florida.

Launch of Endeavour on the STS-118 mission is officially scheduled for Aug. 7. The exact launch time is set at 7:02 p.m. EDT (2302 GMT), according to NASA TV.

"On behalf of all the people that work on Endeavour, both here and really across the country, it's a great, great feeling to have Endeavour back on the pad," Shuttle Launch Director Mike Leinbach said at a news conference. "We're looking forward to a great launch."

NASA managers conduct the review two weeks prior to each space shuttle mission. The group thoroughly evaluates all activities and elements necessary for the safe and successful performance of shuttle mission operations -- from the prelaunch phase through post-landing -- including the readiness of the vehicle, flight crew and payloads.

The STS-118 will be NASA's second flight mission in 2007. As to Endeavour, this is the first flight in almost five years. The last time Endeavour was at the launch pad was in November 2002 on a construction mission to the International Space Station.

During the scheduled 11-day mission, Endeavour will carry into orbit a new truss segment, SPACEHAB module and external stowage platform 3.

NASA hopes to complete the construction of ISS before the shuttle fleet is grounded in 2010.