The Guide for Conducting Benefit-Cost Evaluation of Realized Impacts of Public R&D Programs (2011) provides a framework for assessing the economic benefits generated by publicly funded research and development initiatives. The guide focuses on evaluating realized impacts, meaning measurable outcomes that occur after research results are adopted or commercialized. It outlines methods for identifying program outputs, tracing technology diffusion, and estimating economic benefits such as productivity gains, cost savings, and new market opportunities. The methodology includes defining counterfactual scenarios, estimating costs of public investment, and comparing them with quantified benefits using benefit-cost analysis techniques. It also emphasizes careful data collection, stakeholder consultation, and sensitivity analysis to address uncertainty. The guide helps policymakers and program managers demonstrate the value of public R&D investments and improve accountability and decision-making in innovation policy.
