A Stochastic Model for Determining the Size and Allocation of the Research Budget
- 1 March 1960
- journal article
- Published by Institute of Electrical and Electronics Engineers (IEEE) in IRE Transactions on Engineering Management
- Vol. EM-7 (1) , 2-7
- https://doi.org/10.1109/iret-em.1960.5007523
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
This publication has 2 references indexed in Scilit:
- Ss Inventory Policy with Variable Delivery TimeManagement Science, 1957
- Assessing Priorities for Technical EffortJournal of the Operational Research Society, 1954