ACIL Tasman - Review of LPI R & D Portfolio

Summary

Meat and Livestock engaged ACIL Allen Consulting and The CIE to develop an agreed tool for assessing and balancing investments in the Livestock Production Innovation (LPI) portfolio against key selection criteria. The project found that existing criteria need to be re-aligned against a common measure of value to provide a cost-effective tool for assessing and balancing the portfolio.
The common measure should be based on impact and remit which are the key determinants of whether MLA should invest. The measure can be used to balance the portfolio against other criteria such as LPI-MLA-industry priorities, RD&E continuum categories and risk. A qualitative approach is recommended to overcome data limitations and ensure all investments in the diverse portfolio can be assessed and balanced in a comparable manner. The tool should be positioned around the deliberations of the industry R&D Committee's which is the key decision making point in LPI's processes. Assessments should include a confidence rating to highlight which investments have higher levels of uncertainty and to target more detailed investigations. Adoption of the tool can streamline existing processes, strengthen decision making and improve transparency.