The Research On Enterprise Investment Risk Control Of R&D Project

Research and Development(R&D) is one of the hottest issues in management field, which focus on the effect of R&D on economic growth, industry upgrade, economic analysis of the nature of R&D investment, option theory of investment in R&D project, the high-tech project investment risk assessment. From the perspective of Enterprises, this paper studies the investment risk control of R&D projects, uses risk management, financial control and audit to the investment risk control of R&D project. This paper is primarily focused in the following areas:1. The introduction in the first part is the summary to the paper. Note purpose of this study is to control the risk of R&D Project; The theoretical tools are risk theory, financial theory and auditing theory; Research methods are parameters, literature method and case law; Used paper chart to explain the structure.2. Researched the concept of R&D and the significance of R&D in the second part. Analyzed several concepts of R&D and divided R&D into five states; Used paper charts to explain the important role R&D activities in technological progress; R&D activity is the direct source of technological progress; Proved R&D activity and technological progress have great impact on the economy; Used chart to explain the status R&D activity in corporate strategy. This part is mainly to prove the importance of R&D investment, the importance of R&D risk control.3. Researched the concept of risk, the characteristics of R&D investment risk, the principle of R&D investment risk, the factors of R&D investment risk in the third part. Through studying different concept of risk, risk is entity of opportunities and threats, loss and reward; Through studying the features of R&D investment risk, the features of R&D investment risk are uncertainty, high probability, objectivity, regularity, and controllability; We should take a scientific attitude towards R&D investment risk; Studied the principle of R&D investment risk, R&D investment accorded to several rules; Studied the factors of R&D investment risk, divided R&D investment risk into systematic risk and non-systematic risk, divided non-systematic risk into decision risk, technology risk and fund risk. The paper should pay attention to the control of non-systematic risk.4. Researched the target of R&D investment risk control, the rules of risk control, the methods of R&D investment risk control in the fourth part, which is the core of the paper. Read literature from different countries, divided the target into two parts, and listed its content; Summed four R&D investment risk control rules: portfolio investment, joint R&D, pooled investment and risk aversion; In methods of R&D investment risk control, researched scientific decision, technology risk strategy, fund budget, fund control and R&D audit.In control of decision risk, compound option has more advantage than traditional methods, it is a development on the base of traditional methods; Made model of decision, in order to decide when to end the project, when to put R&D product into market. In control of technology risk, gave four strategies: imitation strategy, joint R&D, incentive mechanism and intelligence gathering. In control of fund risk, summed the problems than we could meet in fund budget, improved"R&D tree"model, researched R&D fund control mechanism, improved R&D fund budget. Introduced R&D audit into risk control, to improve enterprise R&D ability, control overall risk.5. Used the knowledge before in a company in fifth part.This paper overcame the shortcomings that traditional risk management theory had, it pay all attention to risk control. Risk control constituted this paper,s purpose and the source of innovation. First, analyzed several concepts of R&D and divided R&D into five states, proved important role R&D activities in technological progress. Second, studied the principle of R&D investment risk, divided non-systematic risk into decision risk, technology risk and fund risk. In the end, summed four R&D investment risk control rules: portfolio investment, joint R&D, pooled investment and risk aversion; Researched scientific decision, technology risk strategy, fund budget, fund control and R&D audit; Gave four strategies: imitation strategy, joint R&D, incentive mechanism and intelligence gathering; Improved"R&D tree"model and R&D fund budget model.