RiskWi$e

What is RiskWi$e?

RiskWi$e (the National Risk Management Initiative), is a 5-year national GRDC initiative of approximately $30 million that will run from 2023 to 2028. It seeks to understand and improve the risk-reward outcomes for Australian grain growers by supporting grower on-farm decision-making. To do this it will:

• Involve grain growers in the identification of on-farm decisions that have unknown components of risk-reward that will be studied to elucidate new insights.
• Develop an improved understanding of the risk-reward relationships for on-farm management decisions.
• Inform growers and their advisers of new insights into optimising rewards and managing risk.
• Challenge grower decision-making so future management decisions are evaluated in terms of the probability of upside returns offset against the associated downside risks.

https://grdc.com.au/research/partnerships-and-initiatives/strategic-partnerships/riskwise

The RiskWi$e project is ongoing and there is an amazing catalogue of resources already available to farmers. Use these links:
https://research.csiro.au/riskwise/
https://www.uwacaed.org/behaviouralscience

How is Hart involved?

In South Australia, Hart lead the Central ARG (Action Research Group), also collaborating with four other grower groups in our region: Upper North Farming Systems (UNFS), Northern Sustainable Soils (NSS), Mid North High Rainfall Zone (MNHRZ) and Murray Plains Farmers (MPF).

Additional collaborating partners in the Central ARG are Barry Mudge, Peter Hayman and the SA Drought Hub.

What are we working on at Hart?

Field trials
Information about field trials coming soon...

Nitrogen application decisions
Using a profit by deciles approach
HART BEAT NEWSLETTERS
In particular, we recommend you look at how we’ve used a real life nitrogen application decision-making example in Hart Beat #66 (July 30, 2024). We’ve stepped out the process from page 4.

Plus, we've launched a 5-part podcast series to help Aussie grain growers get it more right, more often when it comes to navigating on-farm risk and reward and making decisions.

PODCAST SERIES

NAVIGATING ON-FARM RISK & REWARD: GETTING IT MORE RIGHT, MORE OFTEN

ON-FARM RISK & REWARD - UNDERSTANDING THE BASICS
with Barry Mudge
Episode 1
Media release: Getting back to the basics of on-farm risk & reward
March 28, 2025
Episode 1 of ‘Navigating on-farm risk & Reward: getting it more right, more often’ is here! 
Kickstarting this exciting new podcast series, host Annabelle Homer chats with Port Germein farmer and consultant Barry Mudge.
Barry’s practical experience in managing risk in low rainfall farming systems has made him a leading voice in understanding uncertainty and variability. 
In this episode, Barry shares strategies for robust decision-making, avoiding clangers, and challenging the tricks our minds can play—all with one goal: to help farmers make smarter, more confident choices.
“Our aim is for listeners to use this conversation with Barry to start one of their own—whether it’s with someone within their business or perhaps an advisor,” says co-host Sandy Kimber. 
“These discussions are key to helping farmers challenge their perspectives and improve decision-making outcomes.”
Hit play below, or listen on Spotify and Apple Podcasts.
Be sure to follow the series for expert insights in future episodes.

Trailer
Media release: New podcast series to help farmers get it more right, more often
March 24, 2025
How do you manage risky decisions on your farm?
And how do you make sure you’re set up to capture the rewards?
If you’re an Aussie grain grower this podcast is for you!
We feature conversations with five experts who have years of experience in farming, farrn consulting, climate science, applied research and risk management.
Some on-farm decision making can seem complex and even overwhelming with so many factors to consider. But our aim is this podcast is to keep it simple.
Our trailer features a snapshot from Barry Mudge, Dr Kate Burke, Danielle Lannin England, Peter Hayman and Rebekah Allen.
Hit play, and then the follow button to keep you up to date with all episode drops.
Spotify | Apple

Coming soon...

Episode 1
Release date: March 28, 2025
 

Episode 2
Release date: April 15, 2025
 

Episode 3
Release date: May 6, 2025
 

Episode 4
Release date: May 27, 2025
 

Episode 5
Release date: June 17, 2025