Pivkin S.A.National Research University Higher School of Economics – Nizhny Novgorod, Nizhny Novgorod, Russian Federation splp@yandex.ru
Importance Acceleration of innovation processes in real business necessitates the development of a technique to forecast the prime cost of new products at early stages of any business project. Objectives The objective of the research is to search for new methods of cost estimation when creating an innovative product, i.e. a technical object. Methods Based on the review of existing methods of cost forecast, the paper makes a transition to the new direction of the search. The study of cost behavior at a manufacturing enterprise enables, using the methods of scientific knowledge, to solve the problem of forecasting by means of a new technology, namely, the existing theory of similarity of phenomena and physical processes. Results The paper shows that when making decisions on investing in a business project related to a new technical object development and production, it is possible to use the methodology of the theory of similarity to forecast the prime cost of a product (design prime cost). For this purpose, when calculating the prime cost of a product, the data of a prototype object and cost drivers are used, which are universal for elements and items of direct costs of a technical object creation. Conclusions The offered method of calculating the future innovative product’s prime cost enables to adequately estimate future expenses and reduce risks of investment. Earlier, the similar problem of management accounting was solved approximately, and in many respects was based on professional though subjective judgment of accounting analysts and managers.
Keywords: innovation, design prime cost, expense, theory of similarity, business process
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