October 26, 2020
WaterRA’s Value of Research Project was created to ensure members derive maximum value from their investment in research, and that research benefits can be realised through all aspects of a business and at all stages of a project.
Having entered Phase 2 in 2019-20, the Value of Research (Project #1118) has continued to be one of WaterRA’s flagship projects. Based on input from our utility, health and research members, we determined a successful pathway of how to best value research undertakings (including outcomes and outputs) that relies on a combination of evaluation processes and
organisational culture. After extensive scoping efforts to define the project deliverables, which balanced the diverse experiences and expectations of project outputs across our members, the final scope of works was awarded to a consulting consortium. The consortium was tasked with providing connectivity between the Research Management Framework Elements (determined in Phase 1) to create a best practice approach to maximising the value of research.
This approach is being developed into the ‘Good Practice Guide to Achieving Value of Research’ (VoR GPG). The VoR GPG is being designed to ensure that current practices used by our members are included, while also allowing for continuous improvements. The VoR GPG will be underpinned by two key elements:
- the “Good Practice Research Lifecycle”, which outlines the steps and considerations to create value at each stage of a research project
- the “Benefits Assessment Framework”, which outlines the ways to identify and use tangible and non-tangible financial or economic assessment tools to better assist with value articulation.
The ‘deep feedback’ phase, which saw project stakeholders evaluate and review the draft VoR GPG, has now been completed. The VoR GPG is due for release at the WaterRA AGM on 28th October > register now