Boston Device Blog

Understanding the Practicalities of Research vs Development

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Although many companies combine research and development into one line item in their financial reports, these two concepts have very different meanings from a practical perspective. It is important for companies to understand the practicalities of research vs development in order to help improve the bottom line, and to maintain reasonable expectations of their development programs.

Research vs Development

During the research phase, it is normal to expect shifting timelines, unpredictable results, and exploration of new paths. The purposes of the research effort are to make discoveries, perform experiments, and provide thorough documentation and analysis - processes which can take a long time.

Development, on the other hand, is typically driven by strict deadlines and limited budget constraints. If your project is funded based on completion of key milestones, timely completion of tasks becomes even more important. The project management approach required for research vs development is clearly very different. 

Optimizing Resources

There are many companies that are proficient in either research or development, but not both. When a project shifts from the research phase to the development phase, the human resources required are often different and the cost priorities change. Not every business is properly equipped, financially or practically, to successfully make this shift.

If your company has strong research skills but lacks in the development area, consider partnering with a dedicated development firm that already has the staff, equipment, and resources to execute your development plan within the required time frame. You will save a substantial amount of time and money for the following reasons:

• You do not need to hire new staff
• No need to purchase new equipment
• Experienced managers will keep your project on track
• Regulatory quality requirements will be met
• The latest technologies will be available
• Integrated best practices enable rapid development and lower budgets

If your company has an imbalance with respect to research vs development, consider partnering with a qualified firm that has a proven track record. You can save time and money without sacrificing quality results.

Photo by United States Government Work.