Research objectives It is commonly accepted that soil moisture is a critical factor in N emissions but there has been little emphasis on the management of fertiliser application and soil moisture. This study focused on the interaction between N fertiliser decisions and soil moisture content,…

Create more skilful multi-week seasonal forecasts of Australian climate at regional scales. We will measure how much POAMA-3 forecast skill has improved from POAMA-2. We will identify priority areas to improve POAMA, then trial them in POAMA-3. By conducting hindcasts, we will test the improvements for Australian regional forecast skill and ready them to be incorporated into POAMA-3.

This projected conducted an economic evaluation (benefit–cost analysis) of MCV’s investment for years ending 30 June 2009 to 2016. Of the benefits identified in the evaluation, the principal benefit was a general increase in farm profits. The total investment of $24.1 million in present value was estimated to produce total gross benefits of $160.3 million in present value, providing a net present value of $136.2 million. The benefit–cost ratio was 6.64 to 1 and the internal rate of return was 48.2%.

The project assessed the potential economic returns of investing a further 5 years of research and development in the MCV program, Phase V. The total investment of $13.5 million in present value was estimated to produce total benefits of $105.5 million in present value, providing a net present value of $92.0 million. The rate of return was also high, including a benefit–cost ratio of 7.8 to 1 (over 30 years, using a 5% discount rate) and an internal rate of return of 46%.