LONDON – The British defense ministry has made significant strides in forecasting procurement and support costs for new defense equipment, according to the U.K. National Audit Office (NAO). But auditors warn that this work could be undone by what they describe as a high-risk reduction in spending. The NAO’s Major Projects Report, published on Jan. 13, studies the ministry’s 10-year long Equipment Plan. NAO said the forecast project costs and control over cost variations had ...

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