Title :
A Stochastic Model for Determining the Size and Allocation of the Research Budget
Author :
Freeman, Raoul J.
Author_Institution :
General Analysis Corp., Los Angeles, Calif.
fDate :
3/1/1960 12:00:00 AM
Abstract :
An analytical method is presented for determining the size of the research budget and allocating it among competing projects. A stochastic model is utilized. The over-all profit-maximization of the firm is used as a framework. A hypothetical example is given to illustrate the method.
Keywords :
Atomic measurements; Costs; Distribution functions; Industrial economics; Laboratories; Personnel; Project management; Proposals; Resource management; Stochastic processes;
Journal_Title :
Engineering Management, IRE Transactions on
DOI :
10.1109/IRET-EM.1960.5007523
