Engineering is all about solving technical problems and developing new and improved ways to apply technology, resulting in the continuous demand for R&D.
Engineering covers a broad spectrum of industries, including everything from manufacturing to construction, where R&D is used to achieve state-of-the-art advancements.
As both technology and standards progress at an ever-increasing rate, companies are required to enhance their technical knowledge in order to meet the demands of increasingly challenging projects, products and client requirements.
Engineering is one of the industries which often overlooks R&D activities as they are often considered to be typical challenges in their office or field. However, any activity that demonstrates a quantifiable improvement in the technical capability of a product, system, process or solution is considered to be R&D, including:
As the engineering industry is so broad, it is difficult to estimate the potential benefit received from a claim. The more challenging and complex it is to reach the project goals due to technical challenges, the more time-cost can be included in the claim under the scheme. Engineering companies can also claim costs associated with wasted materials and prototype manufacturing which can add a significant amount to the final benefit.
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