Costing and pricing

A fundamental aspect of a research proposal is developing the budget requested from the funder. Research and Enterprise have experience of costing around 400 grant application per year so please contact your Research Services Officer (RSO) for guidance early in the process.

Costing a research proposal is not just a case of scoping your project's direct requirements; travel, research staff, consumables etc, it includes additional aspects that will vary according to who the funder is. Furthermore it is a requirement of the College that all projects are costing in accordance with Full Economic Cost (FEC) irrespective of who the funder is. A FEC costing is required as part of the College's internal approvals process. Again, your RSO can calculate your budget and guide your proposal through internal approvals.

Please contact your Research Services Officer for further information.

Pricing

Please be aware the actual cost of your proposal may be considerably higher than you initially anticipate. We need to take into account factors such as staff 'on costs' (the College's NI and pension costs for project staff), recruitment costs, PI time and overheads as well as increments and inflation. All these factors must be taken into account when determining the cost and the 'price' of a research project. It is therefore essential to confer with R&E before agreeing a budget with any funder.

Correctly resourcing your research project

It is important to consider all the resources you will need in order to deliver the work of your research project whilst bearing in mind that they will have to be justified in your application. A summary check list of the resources you may need to consider for your proposal is available as an aide memoire however this is not an exhaustive list. 

It is important that you discuss your budget with R&E in good time but also that your budget is considered alongside your proposal by your Head of Department. You should seek guidance and suggestions on your budget in accordance with your department's internal peer review process.

Institutional process/Equipment

Your final project budget, depending on the nature of your proposed research, may require the input of several departments; R&E, Finance, Procurement, HR, Estates, IT, your faculty Dean and College senior management. Therefore if you have a heavily resourced project please bear this in mind and start the process well in advance of submission deadlines.

If you are requesting substantial equipment that requires any element of match funding, installation costs, building renovations or refitting then this requires additional levels of College consideration so please contact R&E early.

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22/09/2017