The basic approaches to determining the value of research and development in aerospace industry

Аuthors

Kaloshina M. N.^*, Ermakova O. V.^**

Moscow Aviation Institute (National Research University), 4, Volokolamskoe shosse, Moscow, А-80, GSP-3, 125993, Russia

*e-mail: 508vvo@mail.ru
**e-mail: over_ecnom@mail.ru

Abstract

At the present stage research and development (R&D) is the main engine of the qualitative economic growth especially in such high-tech and intensive industries as aerospace industry.
R&D requires high level of funding due to significant financial and material costs. The value of research and development is the most important indicator when deciding on R&D funding regardless of what financing channel is used.
R&D value determination is the basis for setting the price for its execution for any possible pricing model for research and development. Even if the market-based approach to calculate the execution costs is not used, cost value estimation is still the basis for evaluating the profitability of work. The estimated cost of R&D is carried out by justifying the expected costs on different objects of expenditures and combining them into the single calculation.
Authors carried out the analysis and systematization of the existing research and development valuation techniques in various fields, approaches and methods of costing used in these techniques. The features of the various R&D valuation techniques and the major problems in this area were identified.
The main methods of R & D cost calculation that are used in the various techniques are the following: the market method (method of analysis of comparable market prices), the method of analogues cost analysis with subsequent correction, the method of estimating the execution of work or the provision of services, the method based on costing considering rate of return, the method of application of specific indicators using scaling (parametric method).
Costs classification that is used by many methods, is governed by different regulations. At the same time to detect the standards that define costs level is a task that needs justification. One of the most complex tasks that has to be solved during the R&D value determination is defining the labour-intensiveness of all the work and different stages of the work.
One of the most important directions of further development of R & D value determining system is to improve the legal and regulatory basis of this assessment, and to create the incentives for contractors to reduce costs at the required quality level of R & D.

Keywords:

Research and development (R&D), aerospace industry, methods of R&D value calculation, initial (maximum) contract price, labour-intensive

References

1. Metodika rascheta stoimosti proektov i nachal’noj (maksimal’noj) ceny kontraktov, predlagaemyh dlja realizacii v ramkah Federal’noj celevoj programmy razvitija obrazovanija na 2011-2015 gody (The method of calculation of the cost of projects and the initial (maximum) price of contract, proposed for implementation within the framework of the Federal target program of education development for 2011-2015), Moscow, AS-Trast, 2011, 72 p.
2. Proekt Minjekonomrazvitija Rossii Metodicheskie rekomendacii po porjadku rascheta nachal’noj (maksimal’noj) ceny kontrakta (The project of the Russian Ministry of economic development of Methodological recommendations on the procedure of calculation of the initial (maximum) price of contract), available at: http://zakupki.gov.ru/pgz/documentdownload?documentId=27286477 (accessed 26.03.2014).
3. Postanovlenie Pravitel’stva Moskvy ot 27.02.2012 N 68-PP «Ob utverzhdenii Porjadka formirovanija nachal’noj (maksimal’noj) ceny gosudarstvennyh kontraktov i grazhdansko-pravovyh dogovorov pri razmeshhenii zakazov na postavki tovarov, vypolnenie rabot, okazanie uslug» (Resolution of the Government of Moscow from 27.02.2012 № 68-PP «On approval of Procedure of formation of initial (maximum) price of the state contracts and civil contracts at placing of orders for deliveries of the goods, performance of works, rendering of services»), available at: http://tender.mos.ru/legislation/lawacts/640391/ (accessed 04.03.2014).
4. Prikaz Minpromtorga RF ot 16.07.2009 № 653 «Ob utverzhdenii Metodiki opredelenija nachal’noj (maksimal’noj) ceny gosudarstvennyh kontraktov na vypolnenie nauchno-issledovatel’skih, opytno-konstruktorskih i tehnologicheskih rabot» (V red. Prikaza Minpromtorga RF ot 10.09.2010 № 787) (The order of the Ministry of industry and trade of the Russian Federation dated 16.07.2009 № 653 «On approval of methodology of determination of initial (maximum) price of the state contracts for fulfillment of scientific-research, experimental-design and technological works» (In red. of Order of the Ministry of industry and trade of the Russian Federation of 10.09.2010 № 787)), available at: http://www.pro-goszakaz.ru/regulations/74346/ (accessed 04.03.2014).
5. Federal’nyj zakon ot 05.04.2013 № 44-FZ «O kontraktnoj sisteme v sfere zakupok tovarov, rabot, uslug dlja obespechenija gosudarstvennyh i municipal’nyh nuzhd» (The Federal law from 05.04.2013 № 44-FZ «On the contract system in the field of procurement of goods, works and services for state and municipal needs»). Rossijskaja gazeta, 2013, no. 80.
6. Postanovlenie Pravitel’stva RF ot 04.11.2006 № 656 (red. ot 03.01.2014) «Ob utverzhdenii Pravil opredelenija nachal’noj (maksimal’noj) ceny gosudarstvennogo kontrakta, a takzhe ceny gosudarstvennogo kontrakta, zakljuchaemogo s edinstvennym postavshhikom (podrjadchikom, ispolnitelem)» (Resolution of the Government of the Russian Federation of 04.11.2006 № 656 (as amended on 03.01.2014) «On approving the Rules of determining the initial (maximum) price of the state contract and the price of the state contract, concluded with the sole supplier (contractor, executor)»), available at: http://www.consultant.ru/document/cons_doc_LAW_157317/ (accessed 12.04.2014).
7. Federal’naja celevaja programma «Issledovanija i razrabotki po prioritetnym napravlenijam razvitija nauchno-tehnologicheskogo kompleksa Rossii» na 2014 — 2020 gody (The Federal target program «Research and development in priority areas of development scientific and technological complex of Russia» in 2014 — 2020), available at: http://fcpir.ru/ (accessed 18.04.2014).

Download