The Smithsonian has released Creating a Digital Smithsonian: Digitization Strategic Plan.
Here's an excerpt:
How long will digitization take? How much will it cost? Right now, we are not sure, and the plan’s number-one task is to determine timelines, cost parameters, and guidelines for setting priorities about what will be digitized when. While we will not digitize all of our collections, the price tag is still daunting, especially considering that many of our objects are three-dimensional and therefore more difficult to digitize. Added to the direct cost of digitization are the staff hours needed to find and research objects and data and the rights associated with them.
Regardless of the specific digitization strategies we pursue, the investment will be enormous. This accounts for a key goal in the digitization plan: securing additional financial and human capital. As noted, digitization is an ongoing process that will require ongoing resources. We have been digitizing, and will continue to do so as funds become available, but from now on we will work across the Institution from a single plan that outlines a comprehensive and systemic approach.