The Senate report mentioned previously in reference to the inability of the entrenched defence bureaucracy to get procurement right (or even learn from their mistakes) is at the bottom of this post in PDF format.
There are several things in it. Too much to cover here in one post.
I took a look at the Air Warfare Destroyer issues. The project claims to be within budget limits, just delayed. Don't know how you achieve that one.
The AWD idea was briefed to the government for (pdf) $6B years ago, then sold to the government for $8B and it could see $10B.
For 3 ships.
Here is an interesting quote from the report:
(click image to make larger)
These are the same kind of people that we will depend on to get the Collins submarine replacement right.