If I were in charge (which I’m not–which is probably a good thing), I would try to initiate the following long-term, multi-participant studies on LDS scripture.
1- An online “hyper”-scripture in which the full text of LDS scripture is linked in numerous, color-coded ways to other passages, articles, book sections, geographical items, philology, etc. etc. A completely integrated database of all knowledge about the BOM.
2- A multi-author, multi-volume commentary on the BOM, with a separate volume on each book of the BOM.
3- A multi-volume Book of Mormon encyclopedia examining in great detail all aspects of the BOM (to supplement the doctrinally oriented BOM Reference Companion)
4- A historical geography of the BOM, which step-by-step, in chronological fashion, analyzes all BOM geography to see when toponyms appear, disappear, geographical relationships, distances, etc. in a consistent and organized fashion, with detailed abstract maps.
5- A “parallel” BOM, which gives the text of the BOM and in a parallel column, all biblical parallels, parallels to non-biblical ancient literature, as well as parallels to later LDS scripture where the BOM is quoted.
6- A complete onomastica of all ancient names in all LDS scripture (this is in part being done by Paul Hoskisson + others in loose association with the Maxwell Institute.)
7- A critical edition of the Egyptian Alphabet and Grammar (which I believe is being done by Brian Hauglid), and any remaining Kirtland Egyptian Papers. (Paralleling the JS Papers project).
There is a great deal to be done on LDS scripture, but, unfortunately, there is no longer an Institute to do it.