Economic evaluation of R&D investment in natural resource management

Abstract

An approach is presented for evaluating in economic terms the investment made by a publicly funded natural resource management research and development (R&D) funding organisation (Land & Water Australia) over its 16-year life. The approach combines qualitative methods to describe research investments and their outputs, outcomes and benefits with conventional cost-benefit analyses that produce measures of the worth of the investment. While the major driver of such an approach is the need for accountability to the Australian Government, co-funders and the public, a number of other objectives are being met also. Benefits to the organisation are accruing, including a better understanding of the factors that contribute to a successful investment and how to communicate the benefits of research to stakeholders. One of the important strengths of the process is the consistency of application of a standardised approach to cost-benefit analyses and the transparency of the analyses that have now addressed 28 separate case studies. The approach is flexible, is conducive to updating information over time, and recognises many of the difficulties involved in applying investment analysis to R&D investment. The development of the process has adopted a continuous improvement philosophy.

Determination of Enantiomeric Distribution of Terpenes for Quality Assessment of Australian Tea Tree Oil

“…In 2015, more than 800 tonnes were produced (T. Larkman, personal communication). There have been increasing problems of adulteration of genuine oils and oils of other species being substituted, despite the existence of an International Standard for many years now. A number of papers have appeared over the last 20 years in which the chiral ratios of specific terpenes are explored as potential indicators of oil quality. − Two very recent papers (by Wong et al, and Wang et al) based on one-dimensional gas chromatography (GC) in three independent laboratories (Monash University and the University of Tasmania, both in Australia, and the University of Mississippi) have measured these ratios for key terpenes as indicators of adulteration using the same set of samples provided by the Australian Tea Tree Industry Association (ATTIA, Ltd.).…”

Performance and profit sensitivity to risk: a practical evaluation of the agro-industrial projects developed by Israeli companies for the CIS and Eastern European countries

“…Includes estimates both for enterprises and individual (less productive) farms. H)Chudleigh and Simpson (2010). The base scenario in this evaluation of investment assumes the yield 148 kg oil of tea tree per hectare.…”