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Transcript of How to...
develop a budget for your research application
You have a great idea for a research project…and you have found a funder and scheme that supports the research you would like to do...
You have found a funder and funding call that sparks interest and you can develop a research project in response...
How much staff time is required and at what level?
Break this down into PI time, Co-I time, Research assistants; technicians, other support staff
Do you need any equipment to undertake the research?
This differs from consumables so a rule of thumb would consider a single item over £10K as equipment
Consumables or Other Directly Incurred costs
This might be software licenses; translation costs; lab consumable.. the list goes on! Always include VAT.
Remember to consider what you might need to carry out impact or public engagement activities too
You have developed your idea, the application is being prepared, you have had appropriate review, and you are able to determine the resources you need to carry out the project
What do we mean by resources?
Here are a list of questions you should be asking yourself and your collaborators.
Is that equipment currently available in the University?
If yes, can you get access? And are there any internal charges for use?
Do you have to purchase the equipment?
If yes, you need to specify and get quotes, these should always include VAT unless exempt, and need to consider shipping and any import taxes
Travel & Subsistence
Estates & Indirect costs
Your estates and indirect costs will be worked out for you as they are dependent on the
staff time, as a rate per FTE. This rate is the same regardless of the role on the project i.e. PI rate is the same as an RA... So if you have 2.5 FTE of research active staff the cost will be (2.5* indirect rate) and (2.5*estates rate)
which conferences are relevant and necessary to share your work?
where are your collaborators and how often do you need to meet?
how will you be engaging with your stakeholders or advisors – if there are face to face meetings you will need travel costs to cover this
do you require to spend time working with other researchers in another organisation? Are you bringing visiting researchers to Stirling?
any Co-I’s and project partners/collaborators will have their own costs – so working on the budget is as collaborative as the research! Their costs will need to be provided by their own institution – we cannot cost for anyone outside of University of Stirling.
Cost vs Price
This will give you is the Full Economic Cost of the research. We are required to fully cost all of our research activity regardless of the price that we hope to receive from the funder
You might be surprised by the cost of the research work you want to do and sometimes the funder will have an upper limit you can apply for. It may mean that scale/scope of the work you want to do will need to be reduced in order to come within the budget limit.
REO can help you with this as we will be able to tell you quickly (without working out the costs) if it sounds as if your required resources will cost more than the funder limit. The more research applications and budgets you create the greater your own understanding of what the funding limits will accommodate.
The funder may also restrict the type of resources you can apply for. Some will not fund the academic staff time or the estates and indirect costs for example. We still need to fully cost the work, but the application will state the eligible elements and that would be the price
cost vs price!
Research &Enterprise Office
So now you have a considered list of resources – this is the time to get in touch with REO and we will calculate the cost of the staff you need and the indirect and estates costs. We can provide advice and guidance on your non staff costs
together we can build your research budget
Funders like ambition... they want to get value from their funding - this doesn't mean skimping on resources in order to get a cheap price.
If you can justify and make a strong case for the resource include it!