Introduction
The Department of Industry, Science and Resources contracted McGrathNicol to review the approach and processes used by the department in its evaluation of PsiQuantum’s investment proposal and provision of advice to government. It was also intended to help provide insights for similar processes across government.
The scope of this review was to:
- Understand the project and timeline to provide a holistic view of events that have occurred, decisions that were made and the evidence supporting those decisions.
- Assess the effectiveness of the decision-making frameworks, assessment approach and procurement practices applied by the department.
- Assess the effectiveness of the risk, governance and compliance frameworks applied to the project and record-keeping undertaken by the department.
- Identify what worked well, lessons learned and opportunities for improvement to inform the ongoing management of the project, and for similar processes that may need to be undertaken in future.
The department welcomes the report which found that overall, the approach and processes taken were appropriate and met the requirements of government.
It also noted the complexities involved and identified areas for improvement.
We acknowledge these lessons and will ensure they are considered in any future projects.