Corporate document | Establishing the broad economic value of the Defence Science and Technology program
As part of the First Principles Review implementation, DST Group commissioned ACIL Allen Consulting to undertake an independent study of the economic value of the Science and Technology Program since 2003.
Based primarily on increased value, avoided costs or export revenues in 2015 dollars, the report estimates the tangible economic benefits of DST’s research and support for these cases as being approximately $5.1 billion.
When projected across the large portfolio of DST’s activities, however, the report suggests economic value to be much greater.
“In taking into account the conservative bias in our assessment of benefits and that the case studies represent a relatively small proportion of total DST Group effort, it may be reasonable to conclude that the extension of the case study approach across all DST projects would yield 4 to 5 times the value ($20 to $25 billion).”
In addition to economic value, DST delivers significant intangible value in terms of minimising strategic risk and strengthening operational capability.
The report has been considered and approved by the FPR Implementation Committee, along with the publication of DST Group’s Value Proposition. Together, these documents establish a clear and unequivocal statement of the critical value DST provides to Defence through its science and technology program.