Public R and D Risk and Risk Management Policy

Authors: Youngseok Lee, Dongjin Chung, Youngjin Kim

Abstract:

R&D risk management has been suggested as one of the management approaches for accomplishing the goals of public R&D investment. The investment in basic science and core technology development is the essential roles of government for securing the social base needed for continuous economic growth. And, it is also an important role of the science and technology policy sectors to generate a positive environment in which the outcomes of public R&D can be diffused in a stable fashion by controlling the uncertainties and risk factors in advance that may arise during the application of such achievements to society and industry. Various policies have already been implemented to manage uncertainties and variables that may have negative impact on accomplishing public R& investment goals. But we may derive new policy measures for complementing the existing policies and for exploring progress direction by analyzing them in a policy package from the viewpoint of R&D risk management.

Keywords: Risk management, Public R&D policy, Science andtechnology policy, Performance management.

Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1331909

References:

[1] EU, "Ex ante evaluation - A practical guide for preparing proposals for expenditure program, December 2001.
[2] GAO, "Risk management-Further Refinements Needed to Assess Risks and Prioritize Protective Measures at Ports and Other Critical Infrastructure", GAO-06-91, December 2005.
[3] GAO, "Homeland Security - Applying Risk Management Principles to Guide Federal Investments", GAO-07-386T, February 2007.
[4] N.S. Arunraj, J. Maiti, "Risk-based maintenanceÔÇöTechniques and applications", Journal of Hazardous Materials, Volume 142, Issue 3, pp 653-661, April 2007.
[5] Eduardo Manuel, "Innovation and Risk Management", MPRA paper, No. 2277, March 2007.
[6] Matthews, M. L., "Managing Uncertainty and Risk in Science, Innovation and Preparedness: Why Public Policy Should Pay More Attention To Geopolitical and Financial Considerations", Discussion Paper prepared by Howard Partners, Canberra: Federation of Australian Scientific and Technological Societies, 2006.
[7] Youngmin Kim, "Next Generation growth Policy - More market than technology", LG Economic Weekly, Volume 937, pp20-24, May 2007.
[8] Jaemin Go, "Design Point of ERM Organization", LG Economic Weekly, Volume 825, pp3-7, March 2005.
[9] Byeonghyeon Choi, "Change Risk Management Perspective", LG Economic Weekly, Volume 793, pp4-6, August 2004.