Selection, termination, and longterm funding of educational projects are each discussed in terms of relevant economic considerations. Planning a project requires manipulation of the variables time, cost, performance, and reliability, to obtain the best reqults whenever constraints are placed on one or more of the variables. A major difficulty with project termination, which should be done when further investment yields no positive results, is establishing procedures for the termination. In longterm planning, it should be recognized that research costs are only a small part of the total costs of a successful project. The research-development-production sequence generally shows an ever increasing curvilinear relationship in terms of cost. (HW)
