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.

RiskWi$e will use participatory action research that engages growers, advisers, grower group representatives and scientists in the conception to implementation process to help build trust and understanding of new knowledge on risk-reward that better informs decision making on-farm. RiskWi$e includes six action research groups that are involved in the participatory action research approach. The Queensland Department of Agriculture and Fisheries (DAF) leads the Queensland action research group of RiskWi$e.

This investment with DAF will explore the challenge of nitrogen (N). Not to do more of the same, but to challenge the annualised thinking associated with N applications and budgeting that arguably amplify perceived risk. It will test and challenge traditional thinking using small-plot and paddock-scale experiments along with computer modelling that consider both biological and price factors. It will road test findings with growers using the 'flight simulation' approach with decision support tool and on-farm implementation to assess impact.

The impact of this investment will be derived from improved understandings of the probabilities of various outcomes and the level of control that can be exerted by the farm manager, leading to better informed and high-quality decisions.

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.