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Trans Tech Publications, Applied Mechanics and Materials, (657), p. 886-890, 2014

DOI: 10.4028/www.scientific.net/amm.657.886

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Determining the Duration of R&D Processes through Monte Carlo Simulation

Journal article published in 2014 by Monika Moga ORCID, Gavrilă Calefariu, Florentin Smarandache, Flavius Aurelian Sarbu, Laura Bogdan
This paper is made freely available by the publisher.
This paper is made freely available by the publisher.

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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.