IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/116458.html
   My bibliography  Save this paper

Prioritising Investment Opportunities in Research and Development Using Multiple Criteria Decision Analysis

Author

Listed:
  • Bratanova, Alexandra
  • Ford, Jerad A.
  • Schleiger, Emma

Abstract

We demonstrate how multiple criteria decision analysis (MCDA) is applied to assist prioritisation of investment in research and development programs. We investigate a case study of research programs prioritisation towards the Renewable Energy Powerhouse Mission by CSIRO, Australia’s national science agency. The data for MCDA was collected through a targeted survey, that reached over 200 internal and external stakeholders and received 53 responses. The results of MCDA demonstrate that the top alternative that outperformed others is focused on the direct routes to metals and chemicals. The second leader promotes the development of the natural graphite-to-anode industry, followed by revolutionizing the economics of battery recycling. The paper discusses the implementation of MCDA process in a cross-disciplinary area with multiple collaborators and interested parties, and when the results are highly uncertain. The results of this study fed into a re-articulation of the upcoming Mission strategy in a series of events in the first several months of 2021, which resulted in management endorsement of the new strategy and allocations of funding.

Suggested Citation

  • Bratanova, Alexandra & Ford, Jerad A. & Schleiger, Emma, 2023. "Prioritising Investment Opportunities in Research and Development Using Multiple Criteria Decision Analysis," MPRA Paper 116458, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:116458
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/116458/1/MPRA_paper_116458.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Kevin Marsh & Tereza Lanitis & David Neasham & Panagiotis Orfanos & Jaime Caro, 2014. "Assessing the Value of Healthcare Interventions Using Multi-Criteria Decision Analysis: A Review of the Literature," PharmacoEconomics, Springer, vol. 32(4), pages 345-365, April.
    2. Annabelle Glaize & Alejandra Duenas & Christine Di Martinelly & Isabelle Fagnot, 2019. "Healthcare decision-making applications using multicriteria decision analysis: A scoping review," Post-Print hal-02114521, HAL.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bratanova, Alexandra & Cameron, Alicia & Thavat, Maylee & Fyfield, Amelia & Hajkowicz, Stefan, 2023. "Priority setting in international trade – application of multiple criteria decision analysis for Australian-Indonesia trade in the health sector," MPRA Paper 119407, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Luca Anzilli & Silvio Giove, 2020. "Multi-criteria and medical diagnosis for application to health insurance systems: a general approach through non-additive measures," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 43(2), pages 559-582, December.
    2. Virginia Wiseman & Craig Mitton & Mary M. Doyle‐Waters & Tom Drake & Lesong Conteh & Anthony T. Newall & Obinna Onwujekwe & Stephen Jan, 2016. "Using Economic Evidence to Set Healthcare Priorities in Low‐Income and Lower‐Middle‐Income Countries: A Systematic Review of Methodological Frameworks," Health Economics, John Wiley & Sons, Ltd., vol. 25(S1), pages 140-161, February.
    3. Salah Ghabri & Jean-Michel Josselin & Benoît Le Maux, 2019. "Could or Should We Use MCDA in the French HTA Process?," Post-Print halshs-02319704, HAL.
    4. Angelis, Aris & Kanavos, Panos, 2017. "Multiple Criteria Decision Analysis (MCDA) for evaluating new medicines in Health Technology Assessment and beyond: The Advance Value Framework," Social Science & Medicine, Elsevier, vol. 188(C), pages 137-156.
    5. Johanna Vásquez & Sergio Botero, 2020. "Hybrid Methodology to Improve Health Status Utility Values Derivation Using EQ-5D-5L and Advanced Multi-Criteria Techniques," IJERPH, MDPI, vol. 17(4), pages 1-18, February.
    6. Jason C Hsu & Jia-Yu Lin & Peng-Chan Lin & Yang-Cheng Lee, 2019. "Comprehensive value assessment of drugs using a multi-criteria decision analysis: An example of targeted therapies for metastatic colorectal cancer treatment," PLOS ONE, Public Library of Science, vol. 14(12), pages 1-17, December.
    7. Cuoghi, Kaio Guilherme & Leoneti, Alexandre Bevilacqua & Passador, João Luiz, 2022. "On the choice of public or private management models in the Brazilian Unified Health System (SUS)," Socio-Economic Planning Sciences, Elsevier, vol. 84(C).
    8. Torkayesh, Ali Ebadi & Pamucar, Dragan & Ecer, Fatih & Chatterjee, Prasenjit, 2021. "An integrated BWM-LBWA-CoCoSo framework for evaluation of healthcare sectors in Eastern Europe," Socio-Economic Planning Sciences, Elsevier, vol. 78(C).
    9. Ivlev, Ilya & Vacek, Jakub & Kneppo, Peter, 2015. "Multi-criteria decision analysis for supporting the selection of medical devices under uncertainty," European Journal of Operational Research, Elsevier, vol. 247(1), pages 216-228.
    10. Gregório, Beatriz Cagigal & Pereira, Miguel Alves & Costa, Ana Sara, 2024. "Multi-criteria decision-aiding for public hospitals: The role of interactions among pairs of access and quality criteria," Omega, Elsevier, vol. 126(C).
    11. Bratanova, Alexandra & Cameron, Alicia & Thavat, Maylee & Fyfield, Amelia & Hajkowicz, Stefan, 2023. "Priority setting in international trade – application of multiple criteria decision analysis for Australian-Indonesia trade in the health sector," MPRA Paper 119407, University Library of Munich, Germany.
    12. Viviane Cássia Pereira & Jorge Otávio Maia Barreto & Francisco Assis da Rocha Neves, 2019. "Health technology reassessment in the Brazilian public health system: Analysis of the current status," PLOS ONE, Public Library of Science, vol. 14(7), pages 1-18, July.
    13. Aris Angelis & Ansgar Lange & Panos Kanavos, 2018. "Using health technology assessment to assess the value of new medicines: results of a systematic review and expert consultation across eight European countries," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 19(1), pages 123-152, January.
    14. Sudhanshu Singh & Rakesh Verma & Saroj Koul, 2022. "A data-driven approach to shared decision-making in a healthcare environment," OPSEARCH, Springer;Operational Research Society of India, vol. 59(2), pages 732-746, June.
    15. Brian Reddy & Praveen Thokala & Alison Iliff & Kerry Warhurst & Helen Chambers & Lynsey Bowker & Stephen J. Walters & Alejandra Duenas & Michael P. Kelly, 2016. "Using MCDA to generate and interpret evidence to inform local government investment in public health," EURO Journal on Decision Processes, Springer;EURO - The Association of European Operational Research Societies, vol. 4(3), pages 161-181, November.
    16. Mónica D. Oliveira & Inês Mataloto & Panos Kanavos, 2019. "Multi-criteria decision analysis for health technology assessment: addressing methodological challenges to improve the state of the art," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 20(6), pages 891-918, August.
    17. Panos Kanavos & Olivier Wouters & Aris Angelis & Panos Kanavos & Gilberto Montibeller, 2017. "Resource Allocation and Priority Setting in Health Care: A Multi-criteria Decision Analysis Problem of Value?," Global Policy, London School of Economics and Political Science, vol. 8, pages 76-83, March.
    18. Mohammed Al Awadh, 2022. "Utilizing Multi-Criteria Decision Making to Evaluate the Quality of Healthcare Services," Sustainability, MDPI, vol. 14(19), pages 1-21, October.
    19. Irina Odnoletkova & Dirk Ramaekers & Frank Nobels & Geert Goderis & Bert Aertgeerts & Lieven Annemans, 2016. "Delivering Diabetes Education through Nurse-Led Telecoaching. Cost-Effectiveness Analysis," PLOS ONE, Public Library of Science, vol. 11(10), pages 1-18, October.
    20. Murrant, Daniel & Radcliffe, Jonathan, 2018. "Assessing energy storage technology options using a multi-criteria decision analysis-based framework," Applied Energy, Elsevier, vol. 231(C), pages 788-802.

    More about this item

    Keywords

    multiple criteria decision analysis; research and development; investment; critical energy metal; CSIRO mission;
    All these keywords.

    JEL classification:

    • L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics
    • O22 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Project Analysis
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:116458. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.