Steps in the investment process
Continuous investment cycle
The GRDC has adopted a continuous investment cycle in order to improve responsiveness of its RD&E investment portfolio, from planning through to delivery
Our investment process can be summarised in the following stages:
- Identify investment priorities
Priorities are identified through consultation with growers, advisors, researchers and other industry stakeholders, and consideration of government research priorities.
- Investment planning
Investment priorities are set and budgeting discussed. R&D proposals are developed in preparation for procurement.
Proposals are either put to tender, or directly negotiated if a competitive process is deemed inappropriate.
- Contract projects
Once the Board has approved high-level budgeting, contractors are formally engaged to conduct R&D projects.
- Manage and monitor progress
Milestone, progress and final reports are reviewed. Strategic gaps are identified to inform the next round of investment planning.
- Outcome reporting
Project outcomes are communicated to growers and other stakeholders through our publications, events, training programs, products and tools.
R&D investments are evaluated through grower surveys and formal impact assessments of specific projects.
Impact assessment reports
We conduct impact assessments to gauge whether our investments are delivering value for money to grain growers and the wider industry. These assessments measure the economic, environmental and social benefits of our R&D projects.
In addition to the regular investment process, GRDC enters into bilateral agreements with research organisations that are leaders in specific areas. These agreements provide the funding certainty necessary for longer term research in areas of strategic importance to growers.