Certified Research Administrator Practice Exam

What is the effort to document the return on investment from federally funded research projects?

1. Science and Technology Indicators

2. STAR Metrics

3. CFDA

4. None exist

The correct answer is: STAR Metrics

The focus on documenting the return on investment from federally funded research projects is primarily addressed through STAR Metrics (Science and Technology for America's Reinvestment: Measuring the Effect of Research on Innovation, Competitiveness, and Science). This initiative provides a framework to quantify the impacts of investments in research by measuring outcomes related to job creation, economic development, and advancements in scientific knowledge. STAR Metrics collects data from research institutions to evaluate the effectiveness and outcomes of federally funded research, allowing stakeholders to understand how their investments contribute to broader societal goals. By creating standardized metrics, the program supports accountability and helps to demonstrate the tangible benefits of research funding. In contrast, Science and Technology Indicators refer to statistical data used to characterize the state of science and technology but do not specifically focus on measuring the return on investment of federally funded projects. The Catalog of Federal Domestic Assistance (CFDA) encompasses federal programs but does not specifically address the evaluation of investment outcomes. The notion that none exist suggests a lack of any formalized approach, which overlooks the structured efforts provided by STAR Metrics.