Failure in R&D efforts are fairly common and with many factors that contribute to the outcome. This book focuses on the role of principal investigators (PIs) in R&D project failures and provides a theoretical model explaining how firm characteristics, including those of the PIs, impact the probability of failure. The theoretical model also serves as a structural form model to motivate the empirical analysis which assesses the probability of failure in small technology-based firms. The author uses data from the U.S. Department of Energy’s (DOE) Small Business Innovation Research (SBIR) program to build a new and informative tool to assess R&D projects and demonstrate the strengths of the theoretical model. The association between PIs and R&D failure not only provides insights that can have a downstream impact to economic growth, but it can also provide policymakers with valuable information to aid decisions in allocating funds for R&D.

Principal-investigator (PI) Earth science missions are small, focused science projects involving relatively small spacecraft. The selected PI is responsible for the scientific and programmatic success of the entire project. A particular objective of PI-led missions has been to help develop university-based research capacity. Such missions, however, pose significant challenges that are beyond the capabilities of most universities to manage. To help NASA's Office of Earth Science determine how best to address these, the NRC carried out an assessment of key issues relevant to the success of university-based PI-led Earth observation missions. This report presents the result of that study. In particular, the report provides an analysis of opportunities to enhance such missions and recommendations about whether and, if so, how they should be used to build university-based research capabilities.