Research appraisal in the electricity industry

The paper describes an interesting and unusual approach to the task of appraising a number of related research projects in the field of electricity utilization research. A combination of conventional cost-benefit studies and the Delphi technique, adapted to establish the potential marketability of each project, was used to rank a portfolio of twelve projects. The procedures used and the results of the exercise are outlined in the paper. It was found that this approach to quantifying the relative worths of research projects helped considerably in the final assessment of the research program. It also provided the added benefit of involving a large number of staff throughout the organization in the work of the Research Centre. The examination of new techniques of research appraisal must be considered a worthwhile contribution to research management if the best uses are to be made of limited research budgets.