2023 Budget Planning Guide for R&D Organizations
Budget planning for R&D organizations is largely a prioritization exercise, and it is especially challenging and important during uncertain economic times. So, how do you effectively undergo R&D planning? First, it’s helpful to understand the current state of it today. Here are some takeaways from a recent survey conducted by Jellyfish:
36% of R&D teams reported that budgets have increased by 10% or greater over the past 3 years
Leaders spent an average of 38.6% of operating budget on R&D; company size and maturity were the biggest variables
Optimism is not dead: 51.6% of leaders expect their team to grow in the next year
So despite small margins of error and tight budgets, leaders of finance, engineering, and the CEO must align on a path forward. Every R&D organization goes through this process, and it’s never too early to start, so download this guide now to help you navigate through the budget planning process.