The programme will wrap up at the end of next year.
One of its leaders, Scion's Dr Peter Clinton, said the programme had faced "the classic hurdle".
"How do we go from where we are to where we could possibly be? It is no man's land."
One of its biggest focuses has been applying LiDar imagery (Light Detection and Ranging) in New Zealand forests.
"LiDar allow us to view above the canopy and cover large areas very quickly. We could not do that before."
The size and shape of individual trees can now be outlined from the LiDar images, using remote sensing technology and satellites also.
Very large numbers of trees can be assessed at one time when LiDar technology is carried aerially by drones, planes or helicopters.
LiDar doesn't capture the lower canopy, so handheld 3D scanners are also being developed for use from the forest floor.
"Together the two sets of images give us better models of each tree. From them, we can understand a lot more about the wood quality and what's inside."
Dr Clinton said using LiDar and scanners was much faster than traditional methods where workers would use a diameter tape and a height pole to measure tree shapes and sizes.
"We have been able to measure plantations several times a year, rather than once."
Biotechnology is also a core part of the programme, with the development of a "forest phenotyping platform" in central North Island forests.
A phenotype is the physical result of a gene.
"Some tree genetics will have better physical outcomes in certain conditions in New Zealand," Dr Clinton said.
The platform means genes can be selected to improve the final timber product and to protect trees against disease and harsh soil and weather conditions in New Zealand forests.
Another GCFF research leader, Dr John Moore, also works part-time at Timberlands forest management company in Rotorua.
He said feedback on the programme was positive so far.
"The feeling is that there are a lot of unanswered questions out there and industry leaders are very excited by what they are seeing.
"The research focuses on what is needed rather than research for research's sake."
