The degree of risk and the probability for high payoff distinguishes one research stage from another. As the research focus becomes narrower toward solving a problem, so does the risk associated with the outcome. That is, the outcome becomes more predictable.
The study of phenomena and observable facts, with no specific application or desired end in mind, commonly falls into the realm of basic research, making it high risk with the potential for high payoff. Results from basic research feed into the general body of knowledge and often serve as the foundation for applied technology and innovations. For example, cutting-edge basic research on nanoscience and nano engineering has been underway for several years. Nanoscience was born from the discovery that matter exhibits unique properties at the atomic, molecular, and supramolecular scale. Nanotechnology research is being performed with the anticipation that a deeper understanding of these properties could revolutionize the Nation's economy across many sectors.
Specifically, the figure relates return/payoff and risk/uncertainty with regard to research ventures. As shown, basic research offers the highest potential return but also involves the highest risk. The y-axis shows return/payoff, ranging from lowest to highest, while the x-axis shows risk/uncertainty, ranging from highest risk to lowest risk. On the plot, basic research appears in the top left corner. Advanced research appears midway along both the x- and y-axes, and applied research is shown toward the bottom right corner indicating low-risk and low-return characteristics.
If knowledge gained from basic research in nanotechnology is applied to developing potential solutions for highway applications, the research then moves into the advanced stage, where the focus is narrower yet the high risk and potentially high payoff remain. Advanced research covers the broad range of progressive discoveries that could potentially move ideas from fundamental breakthrough concepts to real-world applications. Another characteristic of advanced research is that oversight typically emphasizes the judgments of technical experts rather than adherence to a programmed research plan. Similar to basic research, advanced research tends to be multidisciplinary and flourishes in a collaborative environment. Measuring the success of advanced research involves indicators such as a handoff to developers, peer recognition, citations, patents, and the generation of new concepts for further research.
If findings from advanced research on nanotechnology were to be used to develop a stronger pavement material for roads, the research then would move from the advanced to the applied stage. Applied research, as the name indicates, is even narrower in scope and risk than basic and advanced research, because it pulls from previous knowledge or attempts to address a specific problem or improve the current state of the practice. Applied research is shorter term and incremental, making the outcome more predictable and problem focused.
Below are a few highlights from recent or ongoing research at FHWA and a discussion of some of the benefits from past efforts in advanced research.
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