Telstra has revealed that its IT transformation costs have risen 60 percent above its 2007 estimate of$2.5b, but says this is not an over-run and that cost reductions elsewhere have seen the overall $12b five year transformation project come in with $0.2b of budget. For each of the past five years, ever since former CEO Sol Trujillo announced Telstra's transformation plans in November 2005, Telstra CFO John Stanhope has been giving the investment analysts a progress report at Telstra's annual investor days.
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