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Quantitative analysis of the value of investment in research facilities, with examples from cyberinfrastructure

Winona G. Snapp-Childs, David Y. Hancock, Preston M. Smith, John Towns, Craig A. Stewart

TL;DR

Quantitative analyses of the benefits of investment in research and research facilities create a fact-based foundation for discussing the value of research and higher education.

Abstract

Purpose: How much to invest in research facilities has long been a question in higher education and research policy. We present established and recently developed techniques for assessing the quantitative value created or received as a result of investments in research facilities. This discussion is timely. Financial challenges in higher education may soon force difficult decisions regarding investment in research facilities at some institutions. Clear quantitative analysis will be necessary for such strategic decision-making. Further, institutions of higher education in the USA are currently being called on to justify their value to society. The analyses presented here are extendable to research enterprises as a whole. Results: We present methods developed primarily for analyses of cyberinfrastructure. Most analyses comparing investment in university-based cyberinfrastructure facilities with purchasing services from commercial sources demonstrate positive results for economic and scientific research. A recent assessment, based on a comprehensive accounting approach, has shown that for one large publicly funded cyberinfrastructure project the value delivered to the USA economy and society exceeded the cost to USA taxpayers. Conclusions: Quantitative analyses of the benefits of investment in research and research facilities create a fact-based foundation for discussing the value of research and higher education. These methods enable a quantitative assessment of the relationship between investment in specific research facilities or research projects and economic, societal, and educational outcomes. These methods are of value in quantifying the economic benefit of higher education and in managing investments within such institutions.

Quantitative analysis of the value of investment in research facilities, with examples from cyberinfrastructure

TL;DR

Quantitative analyses of the benefits of investment in research and research facilities create a fact-based foundation for discussing the value of research and higher education.

Abstract

Purpose: How much to invest in research facilities has long been a question in higher education and research policy. We present established and recently developed techniques for assessing the quantitative value created or received as a result of investments in research facilities. This discussion is timely. Financial challenges in higher education may soon force difficult decisions regarding investment in research facilities at some institutions. Clear quantitative analysis will be necessary for such strategic decision-making. Further, institutions of higher education in the USA are currently being called on to justify their value to society. The analyses presented here are extendable to research enterprises as a whole. Results: We present methods developed primarily for analyses of cyberinfrastructure. Most analyses comparing investment in university-based cyberinfrastructure facilities with purchasing services from commercial sources demonstrate positive results for economic and scientific research. A recent assessment, based on a comprehensive accounting approach, has shown that for one large publicly funded cyberinfrastructure project the value delivered to the USA economy and society exceeded the cost to USA taxpayers. Conclusions: Quantitative analyses of the benefits of investment in research and research facilities create a fact-based foundation for discussing the value of research and higher education. These methods enable a quantitative assessment of the relationship between investment in specific research facilities or research projects and economic, societal, and educational outcomes. These methods are of value in quantifying the economic benefit of higher education and in managing investments within such institutions.

Paper Structure

This paper contains 22 sections, 7 equations, 1 figure, 4 tables.

Table of Contents

  1. Abstract
  2. Introduction
  3. Prior Related Research
  4. Scope, Methods, and Critical Results
  5. Discussion
  6. Conclusions
  7. Acknowledgments
  8. Declarations

Figures (1)

  • Figure 1: Balanced Scorecard for research-enabling facilities. Metrics applicable to any sort of research-enabling facilities are shown in plain text. Italics are used for operational metrics which are by their nature specific to a particular sort of facility. 1It is generally possible to estimate total societal value only after a facility has been in operation for some time. 2 There will be discipline-specific operational metrics relevant to the mission of any research-enabling facility.