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Control of Cost of Research and Development Projects

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1 Author(s)
Finison, H.J. ; Armour Research Foundation, Illinois Institute of Technology, Chicago, Illinois

The control of cost of research and development projects is intimately related to all factors of technical supervision. The methods must be developed to fit the needs of the particular types of research and development programs and of the organization in which the programs are carried out. Some general principles and specific practices in use at one industrial research laboratory may find general usefulness in many organizations. For example, the concept that adequate control of any business or technical problem requires, first, a plan or standard and, finally, a review or measurement to determine conformance to the plan, will be of use for all control problems. The degree of formality with which such a principle is applied requires careful consideration in order that adequate control will be obtained without inhibiting imaginative approaches to problems. This paper discusses particular principles and methods of project planning and review and the relationship of these methods to personnel and to organization. These factors are discussed from the viewpoint of the project leader, the research supervisor and the technical manager. Specific examples are used to illustrate approaches.

Published in:

Engineering Management, Transactions of the IRE Professional Group on  (Volume:PGEM-2 )