RiskWi$e: National Risk Management Initiative – Action Research Groups Eyre Peninsula
RiskWi$e seeks to understand and improve the risk-reward outcomes for Australian grain growers by supporting grower on-farm decision-making.
- 5-year national initiative (2023-28)
- GRDC investment of $30 million + in-kind contributions of $13 million
- 26 grower/adviser/extension groups
- 10 research partners
- 6 action research group leads
- National project lead (CSIRO)
- Principal partner (GRDC)
Focus:
How do we improve grower decision making – particularly for decisions that have large profit and/or sustainability implication…when the outcome is uncertain!?
Aim:
80% of grain growers articulate their production management decisions in terms of probability of upside returns (reward) offset against the associated downside risks to improve the quality of on-farm decision making.
How?:
Through a structured network with a national footprint that facilitates the coming together of growers, grower groups, consultants, agribusiness, research agencies and scientists, in a process of inclusiveness for all stakeholders that affords equality to all involved.
Participatory action research:
In PAR, growers and their advisers will quantify the probabilities of uncertainty of outcomes and assess the risk-reward payoffs for given management decisions in the context of their own farming operations. At the conclusion of NRMI, a suite of extension packages and artefacts (decision support tools) will continue to inform and challenge grain growers, their consultants and advisers to consider farm management decisions as informed by probable rewards (profit $/ha) and associated probable risks (loss $/ha).
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