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Using economics for risk management
Join leading researchers and industry representatives in interactive discussion on using economic evaluation for bushfire risk management in the Bushfire CRC's Paying the Price online forum on Tuesday 17 June at 12.30pm.
The forum is the third in the Bushfire CRC's Research To Drive Change series.
Hosted by science journalist and former ABC Catalyst reporter Tanya Ha, you can register for free here.
Researchers Prof Steve Dovers (Australian National University) and Prof David Pannell (University of Western Australia) will join lead end user and ACT RFS Chief Officer Andrew Stark to discuss both the Economics and Integrated assessment of fire risk management projects.
Watch a short video explaining the research on YouTube.
Studies into economics indicate that economic evaluation is a useful tool for bushfire management, but is currently under-utilised within agencies. A number of key actions have been identified to increase the use of economic evaluation methods. These include increasing economic expertise amongst bushfire management and policy professionals, and designing economic evaluation that connects to the broader social and political context of bushfire management decision-making.
Case studies of integrated assessment of fire risk management strategies in New Zealand’s Central Otago region and South Australia’s Mount Lofty Ranges provide insights into the question of which fire-prevention strategies provide the best value for money. A decision framework has been developed to provide an integrated assessment of the benefits and costs of fire risk management strategies. The study highlighted which fire risk management strategies (including prescribed burning) are likely to produce the highest benefit per dollar spent. The research demonstrates that the methodology works and can provide valuable decision-making inputs to fire management programs.
The forum is open to everyone with an interest in economics and cost benefits to fire risk management studies, and aims to stimulate an interactive discussion between researchers and the audience. A short video will also be played to provide an overview of the research findings.
Key resources you should know about for this forum are available here. This includes Fire Notes (research summary) and detailed reports.
More information is available on the Bushfire CRC website.