GRDC National Risk Management Initiative (RiskWi$e)

FUNDER: Grains Research and Development Corporation

PROJECT MANAGER: Deanna Lush, Murray Plains Farmers

PROJECT DELIVERER: Tony Craddock, Pinion Advisory

TIMEFRAME: Five years – 2022-23 to 2026-27

PROJECT OVERVIEW: 

The GRDC National Risk Management Initiative (RiskWi$e) is a five-year program funded by growers through GRDC. Murray Plains Farmers is part of the SA Central Regional Group, working with Hart Fieldsite, Mid North High Rainfall Zone, Northern Sustainable Soils and Upper North Farming Systems.

RiskWi$e aims to challenge the decision-making processes of growers. The intent is that future grower decisions will then be better informed by the likelihood of positive returns (rewards) versus the associated downside variability and uncertainty (risk). With the right tools, knowledge and insight, the level of risk of a farming decision can be better quantified, allowing it to be managed more effectively.

The RiskWi$e project aims to:

• Develop an improved understanding of the risk-reward relationships for important on-farm management practices and decisions through involving growers & their
• Inform growers and their advisers of new insights into managing risks and maximising rewards.
• Challenge grower decision-making so future management decisions are thought of in terms of probability of upside returns offset against the associated downside risks.

In the Murray Plains region, MPF has engaged Pinion Advisory – agronomist Tony Craddock and graduate consultant Emily Chambers – to run a discussion group on nitrogen management and application.

Year 1 of the project in 2023 introduced key concepts around risky decisions and risk management with a key focus on nitrogen management and interpreting climate and forecasts data.

Year 2 of the project in 2024 will continue with the N theme and also examine crop rotations and how growers can best manage risk and optimise profitability through informed rotational sequence decisions.

To be involved in the project, contact Tony Craddock on 0417 809 317.