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MELBOURNE, March 8 (UPI) -- Projected Australian defense budget constraints are affecting military acquisition programs.
Given that many of the Australian Department of Defense purchases will come from U.S. companies, Australia's Defense Material Organization is seeking professional assistance in how to navigate the labyrinth of the U.S. military acquisitions system.
The DMO management is soliciting Australia's private sector for help after acknowledging that it lacks the skills and ''general business acumen'' to negotiate billion-dollar contracts with U.S. defense firms.
The Australian National Audit Office reported that of 29 defense major projects worth a total of $47.3 billion, many contracted to U.S. defense firms, 18 have "'experienced schedule slippage," running behind time and experiencing cost overruns.
The ANAO also observed that while DMO was confident 91 percent of projects would be delivered on time, the audit office noted that the DMO timeline was "in some cases overly optimistic," The Sydney Morning Herald reported Friday.
Read the full story at UPI