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A platform for research: civil engineering, architecture and urbanism
Practical Applications of Target Costing in a Multidisciplinary R&D Project
R&D requires expertise in the basic sciences, technical and technological knowledge, legal regulations and business, it seems necessary to enhance collaboration between researchers and businesses, especially small and medium-sized enterprises. In this paper, we present a case study of a collaboration between a university and a company in the implementation of R&D projects. The primary research methods used in this study comprised literature analysis, case study analysis, participant observation, direct observation, deductive reasoning, and the authors’ experience with prototype interview design, including telephone interviews (quantitative survey) and interviews with market experts and/or individuals responsible for specific processes in diagnostic and testing laboratories. The calculations presented for studied projects showed a large disproportion between the costs incurred for the production of prototypes and the selling price accepted by the market. However, this does not preclude profitability. Further analysis of the technological processes, materials, components, etc. should be carried out in order to point out the optimization measures and consequently to achieve the target profitability of the product. Conducting R&D works should take into account the task of commercialization. The use of the concept of target costing facilitates the initial assessment of project profitability and should be recommended when conducting R&D, especially at higher stages of technological readiness of the product. Projects involving a higher level of technological readiness should be carried out not only by people representing life sciences, technology, medicine, etc., but also by specialists in social sciences (e.g., accountants and marketing specialists).
Practical Applications of Target Costing in a Multidisciplinary R&D Project
R&D requires expertise in the basic sciences, technical and technological knowledge, legal regulations and business, it seems necessary to enhance collaboration between researchers and businesses, especially small and medium-sized enterprises. In this paper, we present a case study of a collaboration between a university and a company in the implementation of R&D projects. The primary research methods used in this study comprised literature analysis, case study analysis, participant observation, direct observation, deductive reasoning, and the authors’ experience with prototype interview design, including telephone interviews (quantitative survey) and interviews with market experts and/or individuals responsible for specific processes in diagnostic and testing laboratories. The calculations presented for studied projects showed a large disproportion between the costs incurred for the production of prototypes and the selling price accepted by the market. However, this does not preclude profitability. Further analysis of the technological processes, materials, components, etc. should be carried out in order to point out the optimization measures and consequently to achieve the target profitability of the product. Conducting R&D works should take into account the task of commercialization. The use of the concept of target costing facilitates the initial assessment of project profitability and should be recommended when conducting R&D, especially at higher stages of technological readiness of the product. Projects involving a higher level of technological readiness should be carried out not only by people representing life sciences, technology, medicine, etc., but also by specialists in social sciences (e.g., accountants and marketing specialists).
Practical Applications of Target Costing in a Multidisciplinary R&D Project
Dorota Kostrzewa-Nowak (author) / Waldemar Gos (author)
2022
Article (Journal)
Electronic Resource
Unknown
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