Investment

Investment

GRDC Code: CSP2303-016BGX
NPL002 NRMI Analytics & Modelling - CSIRO
RiskWi$e (the National Risk Management Initiative), is a 5-year national initiative of around $30 million that will run from 2023 to 2028. It seeks to understand and improve the risk-reward outcomes for Australian grain growers by supporting grower on-farm decision-making. This analytics and modelling component of RiskWi$e (this investment) will focus on participatory research tools ('flight simulators') that allow growers to explore their risky decisions and internalise an enhanced understanding of risk into their gut-feel decision-making (mental models).
Understanding the adoption of Decision Support Tools (DSTs) by growers themselves and through service providers, is an explicit component of this investment. DSTs will be deployed to better understand reward-risk decision-making.
CSIRO will also collate, analyse and interpret national data derived from grower groups. They will:
  • Collate and analyse data across multiple research and experimental sites comparing a range of management decisions in terms of efficiencies, economic risk and return trade-offs.
  • Conduct predictive simulation modelling of management decisions to provide information on experimental implementation and to extrapolate treatment effects across seasonal conditions, environments, and other management situations.
  • Develop tools, recommendations, or other communication devices for industry to allow farmers and advisers to consider risk and return in their long-term management strategies more fully.
  • Communicate findings from these analyses directly with the RiskWi$e Action Research Groups and their constituents, as well as through both scientific and grower-oriented publications.
RiskWi$e is conducted in partnership with grower groups, 6 action research groups, research/extension partners, CSIRO as the national project lead, and the Grains Research and Development Corporation (GRDC) as the principal partner. Find out more: RiskWi$e.
Project start date:
20/03/2023
Project end date:
22/03/2028
Crop type:
  • All Crops
Organisation
CSIRO
Region:
North, South, West
Project status
status icon Active

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