Compose the project budget

China

Beijing

Your budget is also a significant part of the funding application, in addition to the research proposal. It justifies and explains why you have requested money for research and it translates the objectives in your proposal into financial figures.

The size, format and layout of your budget depend on the requirements and specifications of the funding organisation to which you are applying. Each funding organisation has its own rules which can usually be found in the financial guidelines. Please consult Veerle van Laere to find the proper financial guidelines for your application. Read them through with her to find the at the eligible and non-eligible costs, and how they should be calculated. In many cases, research staff costs are eligible for funding and a certain percentage will be covered by the funding scheme. In some cases you will receive lump sums for hiring a PhD student or post-doctoral researcher.

It’s important to consult the Project Control team RSM’s financial department to help you calculate staff costs accurately and according to the rules of the funding organisation; you might need to calculate for different scenarios or rates per hour, per day or per month. Do not wait until the last minute to draft your budget; contact the Project Control team in good time. They also need time to make the right calculations.

Own contribution

Research funding rarely covers all of your costs. Some costs are eligible and some are not, even if they are unavoidable. Many funding organisations require a financial contribution from the applicant; the size of the contribution depends on the funding scheme.

You can calculate the total project costs, the amount of funding and the applicant’s contribution with help from the Project Control team. You may need to discuss the amount of the applicant’s contribution and how it will be covered with the head of your department, especially if you want your department to pay part of these costs.