We have been extensively involved in the research and development industry through work with the statutory and industry owned Rural Research and Development Corporations, CSIRO, ANSTO, and ACIAR to name a few. Much of our work has been in undertaking both ex-ante and ex-post benefit-cost assessment of R&D investments in projects as diverse as the mega-science proposals for the Square Kilometre Array telescope to the potential returns on investing in understanding governance institutions in indigenous communities for the development of livelihood opportunities. We brings to this work:
- Leading economic modelling to estimate welfare impacts and flow-on effects across all industries.
- Survey techniques to capture spill-over effects.
- Non-market valuation techniques to include social and environmental values in net benefit estimates.
- Monte Carlo techniques for sensitivity analysis.
We also provide advice to Cooperative Research Council’s and other research agencies on R&D planning and optimal portfolio composition. Our work has had significant returns for our clients improving their understanding of what creates value and how to assess R&D project and portfolio risks. Our staff have authored several guidelines for undertaking economic evaluation of R&D.