The current study brings up through 1970 the cost-of-research index that was published in Operations Research 14, 977–991 (1966). This paper points out various economic aspects and effects of the R&D fluctuations between 1965 and 1970 within the framework of the index pattern for the twenty-year period 1950–1970. The objective of the index is to provide a measure of (l) the change in the cost of a technical man-year of research in the US, and (2) the change in the amount of research and development (R&D) effort in terms of technical man-years of effort applied to it as derived from total dollars spent on R&D. The index is a tool to be utilized in determining the rate of change in costs per technical man-year in R&D and for use in R&D planning and budgeting.