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Measuring the economic benefits from R&D: improvements in the MMI model of the United Kingdom National Measurement System |
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| Authors: | Steven BownsIan Bradley Paula KneeFiona Williams Geoffrey Williams |
| Institution: | a Qinetiq Malvern Technology Centre, Malvern WR14 3PS, UK b PA Consulting Group, Cambridge Technology Centre, Melbourn SG8 6DP, UK c United Kingdom National Physical Laboratory, Queens Road, Teddington TW11 0LW, UK d Pembroke College, Oxford OX1 1DW, UK |
| Abstract: | The benefits and priorities of public funding of R&D programmes are the subject of considerable research and debate and a number of methodologies have been suggested which might allow us to arbitrate on the issues involved. This paper looks at one method that is actually used in practice to evaluate and rank publicly funded R&D programmes in the UK. We describe the improvements that have been made to the mapping measurement impact (MMI) model, which is used by the UK Department of Trade and Industry to assess the economic benefit to industry of different research projects funded as part of the United Kingdom National Measurement System. The model has been in use for more than 5 years as a means to compare publicly funded R&D programmes. It allows evaluation of their benefit and prioritisation of future funding schemes and has potential for wider application in other areas of public R&D investment both inside and outside the UK. |
| Keywords: | O32 O38 |
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