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Evaluating Research Portfolios I: An Analytical Perspective

This article explores the impact evaluation of energy R&D portfolios, highlighting the approach, methodology, and advantages of portfolio-level evaluation. It also discusses the methodological extensions required for DOE/EERE applications and presents a case example of evaluating an advanced combustion engine R&D portfolio.

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Evaluating Research Portfolios I: An Analytical Perspective

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  1. Evaluating Research Portfolios I: An Analytical Perspective Impact Evaluation of Energy R&D Portfolios* Rosalie Ruegg, TIA Consulting, Inc. ruegg@ec.rr.com www.tiaconsultinginc.com American Evaluation Association Conference Washington, DC October 18, 2013 *Based on work funded by the U.S. Department of Energy Office of Energy Efficiency and Renewable Energy

  2. Impact Evaluation of Energy R&D Portfolios • Approach • Background • Why perform R&D evaluation at a portfolio level? • Methodological extensions required for DOE/EERE applications • Current status: (1) DOE/EERE Retrospective Portfolio Impact Studies (2) Revised B-C Guide (3) Aggregation Tool Development Ruegg

  3. R&D Evaluation at a Portfolio Level: Approach Note: “Portfolio” is used here to mean a grouping of investments but not to imply risk analysis or diversification. Ruegg 3

  4. Background • ATP, more than a decade ago, began performing traditional project-level impact studies. • OMB response was that project-level studies were not meaningful because they represented “cherry picking.” • ATP moved to evaluating portfolios of R&D projects to provide conservative estimates of return on larger pieces of its investment. • DOE/EERE extended the portfolio approach by: a) using a more systematic approach according to a Guide, b) broadening coverage of benefits. Ruegg

  5. Advantages of DOE/EERE’s Portfolio Approach • Rigorous evidence of return on EERE’s R&D investment • Systematic treatment allows aggregation across portfolios • Efficient use of the evaluation budget Ruegg

  6. Areas of Emphasis in DOE/EERE’s Evaluation • Characterizing technology content by type (e.g., infratechnologies, platform or generic technologies , product technologies) • Identifying next-best technology alternative • Detailed treatment of additionality • Data collection • Estimation of: - Resource impacts - Environmental impacts - Energy security impacts - Life-cycle effects - Knowledge effects - Combined impacts • Multiple economic performance metrics • Lessons learned Ruegg

  7. Methodological Extensions to Broaden Coverage: Impacts Measured in Dollars Ruegg

  8. Methodological Extensions to Broaden Coverage: Impacts Measured in Physical Units Ruegg

  9. Methodological Extensions to Broaden Coverage: Impacts Measured Qualitatively Ruegg

  10. Methodological Extensions: Overview Ruegg

  11. Economic Performance Metrics Ruegg

  12. Evaluative Questions Addressed • What has been the return on DOE/EERE R&D investment? • To what extent has EERE's investment produced energy, environmental, energy security, knowledge, and economic benefits? • Would today’s commercialized technologies likely have happened at the same time, and with the same scope and scale, without EERE’s efforts? • Was the public investment worth it? • What factors led to return on public investment? • What lessons learned can be applied to future R&D investments? Ruegg

  13. Current Status • Retrospective Impact Guide: 2008, 2011(R), 2013(R) 2008 & 2011 editions prepared by Ruegg & Jordan 2013 edition (in review) prepared by Ruegg, O’Connor, & Loomis • Portfolio Studies Completed: 5 • Data Aggregation Tool under Development Ruegg

  14. Portfolio Aggregation Tool Select from the following:

  15. Case example Ruegg

  16. Example from DOE/EERE: Advanced Combustion Engine R&D Portfolio (Link, 2010) Technology Type Identified: CRF & laser and optical diagnostics tools = Infratechnology “technologies that influence the R&D, production, or marketing of other technologies but are usually not physically embodied in resulting products” Next-Best Alternative Identified: Ruegg

  17. Comparing Actual and Counterfactual BTE (Link, 2010) Ruegg

  18. Analysis Linked MPG to Change in BTE and Translated Results to Fuel Savings and Reduced Air Emissions • Experts estimated 4.5% improvement in Brake Thermal Efficiency (BTE) from DOE-supported R&D • MPG was linked to BTE with an econometric model • Fuel savings were calculated from MPG fuel economy improvements and miles driven. • Resulting energy savings: 17.6 billion gallons of diesel fuel from 1995 to 2007. • (Other effects were also calculated). Ruegg

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