NORTE RIS3 methodological approach for monitoring regional smart specialisation strategies (RIS3)

The setting-up of a monitoring mechanism represents one of the most challenging steps in the RIS3 process. The RIS3 are a distinct strategy by the fact that thematic and sectoral bets in the priority domains allow, with the same mix of public policies, to achieve better results, expressed in the respective indicators, and to accelerate the process of structural change in the regional economy. The monitoring system must reflect the strategic nature and therefore be comprehensive.
NORTE RIS3 monitoring system approach assumed that the bottom-up and top-down logical approaches are complementary. The aim is to monitor whether resources are allocated in the planned way, whether the achievements are the ones planned and are focused on the most relevant priority domains, giving rise to the expected results and to the structural change of the economy at the desired pace.
The monitoring system approach starts with the input and output indicators that are associated with the monitoring of the policy mix, moving to the result indicators, including those that measure the bets in the different priority domains, allowing the monitoring of the strategic objectives. Finally, the context indicators allow to verify the overall level of achievement of RIS3 and its vision. The indicators associated to the priority domains are the nodal point of the whole monitoring model. It is the information obtained at this level that allows, in every moment, to improve the fine tuning of public policies.