The Enhanced Risk Analysis Tools (ERAT) project has developed an interactive approach to priority setting for the future. It draws on state-of-the-art simulation modelling and novel approaches to communicating risks to industries and government in advance of pest outbreaks. This report includes, among other things, a comprehensive review of decision-making techniques involving multiple criteria; an exploration of the role of economic tools in biosecurity management; a theoretical discussion of quantitative impact simulation modelling; a technical discussion of the quantitative bioeconomic model developed to estimate pest and disease impacts on industry; description of the workshop approach to combine the outputs of quantitative models with expert testimony to prioritise biosecurity threats; and a detailed summary of the most significant pests and disease threats facing new and emerging industries in Australila.