This report evaluates a recent industrial transformation policy initiative – Singapore Industry Transformation Programme (ITP), which aims to improve coordination between industrial, skills, research and internationalisation policies in Singapore to support competitiveness and productivity growth, at the sectoral and cross-sectoral levels. As part of the research, an in-depth analysis of the transformation strategy of Singapore’s precision engineering industry is carried out to inform the assessment. Based on the analysis of the potential impact of the Singapore’s Industry Transformation Programme and the Precision Engineering Industry Transformation Map, conclusions are drawn about the likely outcomes of the ITP. Recommendations are also provided on the improvements that could bring additional value and impact in further facilitating industrial transformation in Singapore.