Federal research impact assessment: Axioms, approaches, applications

This paper describes the practice of Federal research impact assessment. Evaluation of research impact is described for three cases : Research selection, where the work has not yet been performed ; Research review, where work and results are ongoing ; and Ex-post research assessment, where research has been completed and results can be tracked. Retrospective methods (such as projects Hindsight an TRACES), qualitative methods (such as peer review), and quantitative methods (such as cost-benefit analysis and bibliometrics) are described. While peer review in its broadest sense is the most widely used method in research selection, review, and ex-post assessment, it has its deficiencies, and there is no single method which provides a complete impact evaluation.