Summary
The ultimate social test of the information chartered by any investor in research or information production is its third party utility-the difference having the information makes in the behavior or decisions of users. This chapter describes some prototype “strategies” and criteria for evaluating the utility of individual research projects and “portfolios” of projects. Portfolio impacts should be the most significant factor in guiding an investor’s resource allocation, ex ante, and in demonstrating prudent expenditures, ex post. Consequently, the chapter discusses how to go about judging whether existing portfolios are the best that can be obtained.
This chapter describes procedures for assessing three different kinds of research: (1) basic research; (2) “innovation” research, aimed at developing new or improved products, services, or processes; and (3) policy research aimed at informing or affecting public decisions. Since research investors frequently involve themselves on the supply side of the research market as well as the demand side, the chapter also describes best practice in evaluating science education and manpower training programs.
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© 1993 Springer Science+Business Media New York
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Averch, H.A. (1993). Criteria for Evaluating Research Projects and Portfolios. In: Bozeman, B., Melkers, J. (eds) Evaluating R&D Impacts: Methods and Practice. Springer, Boston, MA. https://doi.org/10.1007/978-1-4757-5182-6_14
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DOI: https://doi.org/10.1007/978-1-4757-5182-6_14
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4419-5135-9
Online ISBN: 978-1-4757-5182-6
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