While developing R&D budget, it should be clear in mind that work relating to R&D is different from that of manufacturing function. Manufacturing function gives quicker results than R&D which may go on for several years. These budgets are established on a long term basis, say for 5 to 10 years which can further be subdivided into short term budgets on annual basis. As a rule research workers are less cost conscious so they are not susceptible to strict control. A research development budget is prepared taking into consideration the research development budget is prepared taking into consideration the research projects in hand and the new R&D projects to be taken up.
Questions
- What does a budget provide?
- Bring out the advantages of a budget.
- Can a R&D budget be made flexible?
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Wages and salary 