The European Commission’s recent report presents a novel portfolio approach aimed at achieving EU Mission objectives through coordinated R&I actions.
Following the Mutual Learning Exercise (MLE) on EU Missions, the Commission (DG RTD) published a report titled “Understanding mission portfolios” that provides key insights into the collaborative efforts required to effectively implement EU Missions. This thematic report presents the concept of mission portfolios as a possible structured approach to adopt in managing a range of complementary actions aimed at achieving the EU Missions’ objectives. The MLE participants emphasised the importance of strategic alignment, continuous learning, and adaptation as well as stakeholder engagement in driving successful mission implementation. The report also addressed the need for coordinated efforts and a systemic approach to address complex societal challenges and promote innovation within the EU.
The Mission portfolio concept itself revolves around the systematic grouping of complementary actions to facilitate the realisation of EU mission goals. These actions encompass a wide array of initiatives, including the development of new technologies, products, processes, business models, infrastructure enhancements, regulatory frameworks, and behavioural changes among consumers. The Mission portfolio concept provides a holistic framework for managing diverse activities that work synergistically towards achieving transformative impacts. Based upon the OECD’s approach to Mission governance, portfolio management serves as a dynamic decision-making tool “which involves regular reviews of activity to ensure coherent distribution of resources (investment, time, human capital, etc.) between strategic options”.
One of the portfolio approach’s key advantages is the structured framework it provides for managing actions, enabling decision-makers and stakeholders to visualise the broader landscape of necessary shifts for system change and thus allowing them to better match needs to available resources via reflexive monitoring and the introduction of new evaluation points. In parallel, the portfolio approach to Missions allows for the identification of opportunities and gaps for new actions, as well as the interlinking and discontinuation of existing actions to optimise outcomes. However, challenges exist in implementing portfolio approaches, including the need for inter-operability between national and EU portfolios, managing multiple levers of change, and navigating areas where policymakers may lack jurisdictional influence over certain actions. Overcoming these challenges requires forging alliances, encouraging closer collaboration, and promoting synergies among stakeholders to ensure effective Mission implementation.
Governments can effectively integrate EU Missions into their national strategies by adopting approaches and practices that better align Mission objectives with their domestic R&I agendas and priorities. This integration involves developing portfolios of actions that are compatible and coherent with the overarching goals of EU Missions, mobilising engagement and commitment from a diverse range of stakeholders beyond the traditional research and innovation sectors (which is often the case in Missions’ implementation) and balancing long-term perspectives with political cycles and trends. In parallel, European governments must also focus on managing interdependencies between different portfolios, evaluating impact metrics in situations where attribution is unclear, fostering collaboration across sectors to drive innovation, address societal challenges effectively, and enable stakeholders to collaborate, experiment, and learn continuously.
From the Commission’s perspective, Mission portfolios have the potential of advancing the objectives of Horizon Europe and fostering on-the-ground innovation within the EU. By providing a structured framework for managing actions that contribute to Mission goals, Mission portfolios could facilitate the coordination and complementarity of investments, the promotion of synergies, and collaborative efforts to drive system-wide transformations.