Investment

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.

The behavioural science component of RiskWi$e (this investment) will develop and implement research to understand grain grower approaches to accounting for risk and uncertainty in their decision making and their perceived relative importance of risks. CSIRO will identify the degree of change in farmers' approaches to risk-related decisions and management as they work in RiskWi$e. They will use this information to yield insights into similar groups (typologies) of farm decision-makers, identify key factors driving differences in risk management, and determine the use of new knowledge and risk management-related innovations.

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.