Before I read Scott’s full post I read the PDF and had the same response he did–that the researchers were vastly underestimating the amount of time it takes to do a proper content audit.

Maximizing Content Management ROI.

The other observation about the report is that they don’t mention understanding how content is published or syndicated to content consumers. The transorming content into desired formats and then sharing it with the people and/or applications that need it would seem to be an area where decent ROI could be achieved.

The research report does offer common sense advice on some aspects of what really amount to understanding the requirements of a content management system before getting too deep into the project.