We are now finalising the impact tool, the document the Federal Government requires to determine the economic impact of work being done by the AMCRC. We have to provide this document by the end of this financial year.
The impact tool has five components. First are Inputs, items such as cash, in kind labour and intellectual property. Then there are Activities which the CRC carries out, basically research and development. The third component is Outputs, the consequences of our efforts which include new intellectual property, new processes, new systems and new PhDs. Then there is Usage which is how the research or industry partner further develops and commercialises the outputs of the CRC effort. Will they make additional investments and how much? The final component is Impact.
The CRC has 27 projects with a wide range of cost benefits. After much work with our partners we are finally comfortable with the document however it emphasises that much work is to be done on project management and assessment.
