Technology and Production
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The paper answers two questions on methods of handling R&D projects, budgeting and design using CAD/CAM methods for producing new products. The paper also suggests some of the things to be wary of in doing so, noting that the increased power of the personal computer has made such technology available for even the smallest company. The paper notes that it has made this more useful, so long as the company is careful in its choices and thorough in its research.
From the Paper:"If the project continues at the same pace as it has been proceeding to this time, as well as on the same level of expense, it will cost $6 million, which is a rise of 20 percent over what was supposed to be expended. This is a considerable rise in the budget although the time needed to complete the project should be the same as originally planned. This suggests that either prices are rising, labor costs are increasing (perhaps from excessive overtime), or the work is moving too slowly so that it is not being completed in a way that matches the expenditures. There is no indication here if the project is on schedule, so that should be the first thing analyzed, to see if the work is moving quickly enough and if it being too slow might account for the added costs."
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Technology and Production (2005, December 01) Retrieved October 24, 2020, from https://www.academon.com/essay/technology-and-production-84912/
"Technology and Production" 01 December 2005. Web. 24 October. 2020. <https://www.academon.com/essay/technology-and-production-84912/>