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Prioritising Investment Opportunities in Research and Development Using Multiple Criteria Decision Analysis

Author

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  • Bratanova, Alexandra
  • Ford, Jerad A.
  • Schleiger, Emma

Abstract

We demonstrate how multiple criteria decision analysis (MCDA) is applied to assist prioritisation of investment in research and development programs. We investigate a case study of research programs prioritisation towards the Renewable Energy Powerhouse Mission by CSIRO, Australia’s national science agency. The data for MCDA was collected through a targeted survey, that reached over 200 internal and external stakeholders and received 53 responses. The results of MCDA demonstrate that the top alternative that outperformed others is focused on the direct routes to metals and chemicals. The second leader promotes the development of the natural graphite-to-anode industry, followed by revolutionizing the economics of battery recycling. The paper discusses the implementation of MCDA process in a cross-disciplinary area with multiple collaborators and interested parties, and when the results are highly uncertain. The results of this study fed into a re-articulation of the upcoming Mission strategy in a series of events in the first several months of 2021, which resulted in management endorsement of the new strategy and allocations of funding.

Suggested Citation

  • Bratanova, Alexandra & Ford, Jerad A. & Schleiger, Emma, 2023. "Prioritising Investment Opportunities in Research and Development Using Multiple Criteria Decision Analysis," MPRA Paper 116458, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:116458
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    References listed on IDEAS

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    1. Kevin Marsh & Tereza Lanitis & David Neasham & Panagiotis Orfanos & Jaime Caro, 2014. "Assessing the Value of Healthcare Interventions Using Multi-Criteria Decision Analysis: A Review of the Literature," PharmacoEconomics, Springer, vol. 32(4), pages 345-365, April.
    2. Annabelle Glaize & Alejandra Duenas & Christine Di Martinelly & Isabelle Fagnot, 2019. "Healthcare decision-making applications using multicriteria decision analysis: A scoping review," Post-Print hal-02114521, HAL.
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    Cited by:

    1. Bratanova, Alexandra & Cameron, Alicia & Thavat, Maylee & Fyfield, Amelia & Hajkowicz, Stefan, 2023. "Priority setting in international trade – application of multiple criteria decision analysis for Australian-Indonesia trade in the health sector," MPRA Paper 119407, University Library of Munich, Germany.

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    More about this item

    Keywords

    multiple criteria decision analysis; research and development; investment; critical energy metal; CSIRO mission;
    All these keywords.

    JEL classification:

    • L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics
    • O22 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Project Analysis
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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