AgEconPlus worked with Meat and Livestock Australia (MLA) to review progress in meeting a range of Sheepmeat Industry Strategic Plan (SISP) performance indicators and prepare a benefit cost analysis (BCA) of the Strategy. The SISP provided a blueprint for investment in the Sheepmeat industry for the period 2010 to 2015. The plan was organised into seven strategic themes that target sustainability and profitability. Within each theme there are strategies, stakeholder responsibilities and key performance indicators (KPIs). AgEconPlus was required to review SISP KPIs, select a subset of the most measurable and meaningful indicators; quantify industry impact when these indicators are delivered and use progress towards indicator delivery to inform a benefit cost analysis. The benefit cost analysis was completed at the theme level and cost data was extracted by MLA from SISP project records.