Evaluation Framework
Individually, Research and Development Corporations (RDCs) use a range of evaluation approaches to report value to stakeholders and to provide recommendations and guidelines for ongoing and future investment. In 2007 the RDCs agreed to work together to measure and report on the overall return on R&D investment.
The Council of Rural Research and Development Corporations’ Chairs (CRRDCC) prepared the evaluation framework, methodology and approach for this work. These were reviewed by key economic agencies of the Australian Government including the:
- Treasury
- Department of Finance and Deregulation
- Department of Agriculture Fisheries and Forestry
- Productivity Commission
- Australian Bureau of Agricultural and Resource Economics.
Following agreement being reached on the framework the 15 RDCs engaged independent economic consultants to undertake the first phase of evaluations. The results for the first round were released in November 2008. For more information, please see the Summary of the Evaluation Report.
By the end of 2009-10 FRDC aims to have completed BCA’s on 18 R&D subprograms comprising over 200 projects which will deliver a total R&D portfolio assessment. This analysis will provide data for which the FRDC and its partners can optimise future investment decisions based on an adaptive management approach.
Benefit Cost Analysis
