Commercial in confidence. To know more about this project please contact FRDC.

Project funding will provide the PI with additional resources that enable him to focus on achieving the requirements and objectives of his research and PhD completion to a high standard and on-time.

The project funding application covers four key areas:

1. Additional stipend: to provide an adequate living allowance.
2. Travel: attendance of international conferences is a key vehicle to build skills an experience in the international policy and diplomacy fields as well as providing the opportunity to collect valuable research data. These skills and networks will ultimately benefit the Australian fishing and aquaculture community through the sharing of knowledge and networks.
3. Training: Facilitation training has been identified as an opportunity for development
4. Communication and content creation: developing content to assist with promoting and communicating the results of the research.

Having members and advocates of the Australian fishing and aquaculture community informed and skilled in the way international governance agreements are developed and then translated into domestic policy is extremely important, and a current gap in our capability and capacity.

It is becoming increasingly important for Rural RDCs to continually monitor and evaluate the returns from RD&E investment, as government and industry require greater transparency and accountability of RD&E funds.

In addition to FRDC’s Statutory Funding Agreement requirements for valuing return on investment and use in its Annual Reports, impact assessments of FRDC’s RD&E investments are needed to inform:
– Future investment decisions
– CRRDC’s overall performance review of impact generated by RDCs
– Levy payers and government of the performance of investments.

GHD understands that the project will comprise two key components:
– An economic impact assessment of up to 20 research projects for the three-year period FY23/24, 24/25, and 25/26
– An individual and aggregated report of all assessed projects at the completion of assessments.

GHD notes that within this period the first five assessments for FY23/24 are required by June 2024 with the remainder of the projects, i.e. 10, due in September 2024. These assessments are required to be consistent with the CRRDC Guidelines for Impact Assessments. FRDC RD&E projects are to be assessed annually to meet Statutory Funding Agreement (SFA) requirements for valuing return on investment for use in FRDC’s Annual Reports and performance of FRDC’s investments.
In conducting the impact assessment project it will be important to note that one of FRDC’s key responsibilities is to ensure that research to assist management of fisheries and aquaculture resources is being undertaken to maintain ongoing sustainability. While the primary focus of these benefit-cost analyses over time has been economic impact, with references to environmental and social implications where appropriate, FRDC is increasingly interested in understanding the impact of R&D investments on environmental, social, and economic aspects more holistically.