The Research and Development (R&D) Evaluation Model was developed by RMCG for Meat & Livestock Australia (MLA) to evaluate projects both pre and post project delivery. The model uses industry data to determine the economic impact of changes made on-farm as a result of research, as well as on the broader industry. The R&D Evaluation Model was specifically developed for the Australian sheep and beef industries.
This approach allows MLA to establish the level of return they may expect for their investment, providing MLA with economic indicators, including a benefit cost ratio and net present value for each project evaluated. As well as evaluating projects, the model has been used to provide insights into, and improve, other evaluation models. This model also gives MLA greater control and consistency when evaluating their projects.
This type of model can be developed for other industries. RMCG has also developed a model for the feedlot industry.