Abstract
OVERVIEW:Universally, cost is a key factor in determining the commercial success of new technologies. Corporate research laboratories have developed countless technically exciting processes, only to see them put aside because they were too expensive for their targeted markets to bear. Technical cost modeling is a methodology for simulating the cost of developmental technologies. It is a useful tool for assisting R&D management, both for the selection of program alternatives and for the identification of “economic bottlenecks” within a given technology. Technical cost modeling takes a science-based, bottoms-up perspective on the cost of a technology. First-principle theories are coupled with established commercial practices to produce models that are robust, realistic and useful.
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