Research and development project
Research and development project refers to creative work undertaken on a systematic basis in order to increase the stock of scientific and technical knowledge and to use this knowledge in new applications. The central characteristic of a research and development project (R&D) is an appreciable element of novelty and of uncertainty. New knowledge, products or processes are sought. New knowledge involves the integration of newly acquired information into existing hypotheses, the formulation and testing of new hypotheses or the re-evaluation of existing observations. An R&D project generally has three characteristics:
- a substantial element of uncertainty, novelty and innovation;
- a well-defined project design;
- a report on the procedures and results of the projects.
Relation to previous version
- Research and development project March 24, 1997 to current
This is the current version.
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