Research reactors are expected to make important contributions in coming decades to the further development of peaceful uses of nuclear technology. However, they must be managed according to sound financial principles. The objective of this publication is to provide research reactor operators and associated institutions or organizations with information and an analytical approach for assessing and determining the cost structure of the fuel cycle related activities of their reactors. It serves as a useful guide in finding ways to achieve the lowest possible cost structure for fuel cycle related reactor operations, consistent with the operating needs and utilization requirements of a reactor. Case studies of sound management practice are provided.