Mathematics and Statistics Faculty and Staff Publications

Document Type

Article

Publication Date

4-2014

Abstract

The research and development (R&D) processes influence the economic development of a company, because in an industry that is changing fast, firms must continually revise their projects and range of products. Therefore in order to determine the specific costs of research and development activity we have to highlight the efforts and effects of these activities and to calculate some indicators of economic efficiency. In the cost calculation process in R & D we have emphasized the identification of the components of cost and the duration of the R & D processes, as a component of the R&D cost, that is why as a new method we used Monte Carlo simulation. The novelty of the paper is that it focuses on determining components of cost and the duration of the R & D processes in its cost calculation procedure. The originality of this work is the use of Monte Carlo simulation to determine the average length of producing a new product.

Publisher

Trans Tech Publication, Switzerland

Publication Title

Applied Mechanics and Materials

ISSN

1662-7482

Volume

657

First Page

886

Last Page

890

DOI

https://doi.org/10.4028/www.scientific.net/AMM.657.886

Language (ISO)

English

Keywords

R&D, R&D cost calculation, R&D process duration, and Monte Carlo simulation

Creative Commons License

Creative Commons Attribution 4.0 License
This work is licensed under a Creative Commons Attribution 4.0 License.

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