Show that you understand the current state of research on your topic.
The length of a research proposal can vary quite a bit. A bachelor’s or master’s thesis proposal can be just a few pages, while proposals for PhD dissertations or research funding are usually much longer and more detailed. Your supervisor can help you determine the best length for your work.
One trick to get started is to think of your proposal’s structure as a shorter version of your thesis or dissertation , only without the results , conclusion and discussion sections.
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Writing a research proposal can be quite challenging, but a good starting point could be to look at some examples. We’ve included a few for you below.
Like your dissertation or thesis, the proposal will usually have a title page that includes:
The first part of your proposal is the initial pitch for your project. Make sure it succinctly explains what you want to do and why.
Your introduction should:
To guide your introduction , include information about:
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As you get started, it’s important to demonstrate that you’re familiar with the most important research on your topic. A strong literature review shows your reader that your project has a solid foundation in existing knowledge or theory. It also shows that you’re not simply repeating what other people have already done or said, but rather using existing research as a jumping-off point for your own.
In this section, share exactly how your project will contribute to ongoing conversations in the field by:
Following the literature review, restate your main objectives . This brings the focus back to your own project. Next, your research design or methodology section will describe your overall approach, and the practical steps you will take to answer your research questions.
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To finish your proposal on a strong note, explore the potential implications of your research for your field. Emphasize again what you aim to contribute and why it matters.
For example, your results might have implications for:
Last but not least, your research proposal must include correct citations for every source you have used, compiled in a reference list . To create citations quickly and easily, you can use our free APA citation generator .
Some institutions or funders require a detailed timeline of the project, asking you to forecast what you will do at each stage and how long it may take. While not always required, be sure to check the requirements of your project.
Here’s an example schedule to help you get started. You can also download a template at the button below.
Download our research schedule template
Research phase | Objectives | Deadline |
---|---|---|
1. Background research and literature review | 20th January | |
2. Research design planning | and data analysis methods | 13th February |
3. Data collection and preparation | with selected participants and code interviews | 24th March |
4. Data analysis | of interview transcripts | 22nd April |
5. Writing | 17th June | |
6. Revision | final work | 28th July |
If you are applying for research funding, chances are you will have to include a detailed budget. This shows your estimates of how much each part of your project will cost.
Make sure to check what type of costs the funding body will agree to cover. For each item, include:
To determine your budget, think about:
If you want to know more about the research process , methodology , research bias , or statistics , make sure to check out some of our other articles with explanations and examples.
Methodology
Statistics
Research bias
Once you’ve decided on your research objectives , you need to explain them in your paper, at the end of your problem statement .
Keep your research objectives clear and concise, and use appropriate verbs to accurately convey the work that you will carry out for each one.
I will compare …
A research aim is a broad statement indicating the general purpose of your research project. It should appear in your introduction at the end of your problem statement , before your research objectives.
Research objectives are more specific than your research aim. They indicate the specific ways you’ll address the overarching aim.
A PhD, which is short for philosophiae doctor (doctor of philosophy in Latin), is the highest university degree that can be obtained. In a PhD, students spend 3–5 years writing a dissertation , which aims to make a significant, original contribution to current knowledge.
A PhD is intended to prepare students for a career as a researcher, whether that be in academia, the public sector, or the private sector.
A master’s is a 1- or 2-year graduate degree that can prepare you for a variety of careers.
All master’s involve graduate-level coursework. Some are research-intensive and intend to prepare students for further study in a PhD; these usually require their students to write a master’s thesis . Others focus on professional training for a specific career.
Critical thinking refers to the ability to evaluate information and to be aware of biases or assumptions, including your own.
Like information literacy , it involves evaluating arguments, identifying and solving problems in an objective and systematic way, and clearly communicating your ideas.
The best way to remember the difference between a research plan and a research proposal is that they have fundamentally different audiences. A research plan helps you, the researcher, organize your thoughts. On the other hand, a dissertation proposal or research proposal aims to convince others (e.g., a supervisor, a funding body, or a dissertation committee) that your research topic is relevant and worthy of being conducted.
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Basic components of a research budget, two models of budget development, other factors affecting your budget.
Budgets should provide the sponsor with an accurate assessment of all cost items and cost amounts that are deemed necessary and reasonable to carry out your project. They should be based upon your description or the statement of work. Budget justification provides more in-depth detail and reason for each cost and is often considered by reviewers as a good indicator of the feasibility of the research.
A research budget contains both direct costs and indirect costs (overhead), but the level of detail varies from sponsor to sponsor. The first step in developing a budget is to carefully read the guidelines of the funding opportunity being pursued.
There is no magic formula available for developing a budget but there are some basic steps to follow in order to develop an accurate budget:
The examples below developed by the University of British Columbia demonstrate two ways to include indirect costs in your budget.
Unless the sponsor specifies in writing that they require the indirect costs of research to be presented as a separate line item (Cost Model), the indirect cost should be built into each budget line item (Price Model). Indirect costs are normally included in the price of goods and services worldwide.
For example, you are developing a budget for a funding opportunity with an indirect cost rate of 25%. Your direct costs are $201,000 broken down by expense categories shown in the second column of the table below. The third and fourth colums present the two ways you can include the 25% overhead in your budget using the Price Model or the Cost Model, respectively:
Line item description | Direct Cost | Price model (indirect cost built into each line item) | Cost model (indirect cost presented as a separate line item) |
---|---|---|---|
Salary: Post-Doctoral fellow * 1 | $42,000 | $52,500 | $42,000 |
Salary: PhD student * 2 | $43,000 | $53,750 | $43,000 |
Salary: Master's student * 3 | $54,000 | $67,500 | $54,000 |
Digital devices | $26,000 | $32,500 | $26,000 |
Consumables | $15,000 | $18,750 | $15,000 |
Travel and subsistence | $21,000 | $26,250 | $21,000 |
SFU Indirect Cost (25% of Direct Costs) | N/A | N/A | $50,250 |
In-kind and cash contributions, like other costs to the sponsored project, must be eligible and must be treated in a consistent and uniform manner in proposal preparation and in financial reporting.
Cash contributions are actual cash transactions that can be documented in the accounting system. Examples of cash contributions include:
In-kind contributions are both non-monetary or cash equivalent resources that can be given a cash value, such as goods and/or services in support of a research project or proposal. It is challenging to report on in-kind contribution, please make sure the numbers you use are well supported, consistent and easy to quantitate.
Examples of an in-kind contribution may include:
Some sponsored projects require the university and/or a third party to contribute a portion of the project costs–this contribution is known as matching.
Matching requirements may be in the form of an actual cash expenditure of funds or may be an “in-kind” match. For example:
Examples of agency programs that include some form of matching from a third party are:
The following materials have been developed to assist with proposal budgeting . You can find other proposal and award learning resources here .
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Preparation of the budget is, for many researchers, the most difficult section of the proposal. Granting agencies see hundreds of proposals yearly and are proficient at comparing levels of funding requested to the research work proposed. Therefore, it is important that the budget section of the proposal reflect, as accurately as possible, the funding needed to carry out the proposed research.
The investigator should neither overestimate the funds required, nor underestimate budgetary needs. Either of these strategies may lead to proposal rejection. A budget, accurately detailing the funds necessary to carry out the technical statement of work, can strengthen the total proposal and increase the likelihood of funding. Furthermore, a carefully prepared budget can often identify weak areas in the proposal narrative and result in improvement of the technical proposal.
Personnel in OSP are experienced in preparing budgets and encourage investigators to contact them when they have a draft of the budget. To make preparing budgets easier, OSP offers a Budget Preparation Template with formulas already written into the spreadsheet.
OSP staff can provide expertise in completing a budget request, applying fringe benefit and facilities/administrative cost rates, documenting subcontracts and/or subrecipient agreements, consultants, matching funds, and cost-sharing. In the case of more complicated proposal requirements, OSP will complete sponsor assurances and certifications, as well as assist the investigator in interpreting RFP guidelines.
Salaries and wages.
To determine total salaries and wages, list the amount of time to be spent by each person who will be working on the project. Time should normally be shown in terms of a percent of full-time effort. Show breakdown between summer and regular academic year for faculty.
No employee may be scheduled for activities in excess of 100% of effort in any given month. As a general policy, NSF limits the salary compensation requested in the proposal budget for senior personnel to no more than two months of their regular salary in any one year. This limit includes salary compensation received from all NSF-funded grants. Some Institutes at NIH have minimum effort requirements – NCI , NINDS recommends 2 calendar months per R01 proposal.
Sponsored activities may not result in any employees receiving compensation at a rate in excess of their authorized salary or academic rate. For multi-year projects, the budget should take into consideration any possible salary increases. Per Executive Order 14026, Increasing the Wage for Federal Contractors , all employees working on federal contracts must be paid a minimum of $15/hour.
Annually, Congress legislatively mandates a provision limiting (capping) the direct salary that an individual may receive under an NIH grant. Direct salary is restricted at Executive Level II of the Federal Executive Pay scale, which is revised annually. For awards issued on or after January 1, 2024, the Executive Level II rate is $221,900 ($18,492/mo).
Fringe benefits are a direct cost to a sponsored project, are clearly related to the salaries and wages to be paid, and are shown as a separate entry in the budget. The Department of Health and Human Services (DHHS) does not negotiate fringe benefit rates for the University. Fringe benefit costs have been calculated based on historical data. The actual costs for fringe benefits are charged (billed) to the sponsored project at the time the costs are incurred; the amount charged is based on salary, selected benefit package, and other variables applicable to the individual employee. Fringe benefits include employee and employer insurance premiums for all graduate students employed for at least 20 hours and covered through the Student Health Insurance Plan.
If the actual fringe benefit expenses for a project exceed the projected amount included in the budget, it is the responsibility of the Principal Investigator to pay these actual costs from the direct award funds provided by the sponsor.
Normally, consultants (non-UT Dallas employees) are paid a consulting fee plus travel expenses. Many sponsors do not permit payments to consultants and some restrict or limit such payments. If in doubt as to whether consultants are allowed or rates paid to consultants, refer to the sponsor’s program literature or contact the OSP. Whenever possible, identify the proposed consultant by name, their qualifications, anticipated services provided, indicate the number of days of work, daily rate, and provide a curriculum vitae for the consultant in the proposal. Per Executive Order 14026, Increasing the Wage for Federal Contractors , all employees working on federal contracts must be paid a minimum of $15/hour.
The participation of paid consultants in a sponsored project for periods longer than two weeks should be discussed with the OSP prior to submission of the proposal. Institutional consulting policies are contained in the Consultant’s Policy .
Reimbursement requests are submitted to Procurement via a non-catalog requisition with a copy of the scope of work, milestones and bill plan. Any confidential financial information (social security number, bank information) should be emailed to [email protected] due to confidential status of the information. If you have questions about this process, please email [email protected] .
Equipment means an article of nonexpendable, tangible personal property having a useful life of more than one year and an acquisition cost of $5,000 or more per acquisition components and identified for inventory purposes. This does not include on-campus machine-shop labor or warranty and service features of the purchase.
There are a variety of methods by which equipment is acquired at UTD. The method of acquisition is determined by factors such as source of funding, type of project, and duration of need. To expedite the process, the budget justification should detail the model and brand of equipment. Include ‘or newer model’ in the justification to consider an upgrade to the equipment upon award. A quote can also be included with the proposal (if allowed by the guidelines).
These are items that cost less than $5,000. Normally, a research project consumes expendable supplies such as laboratory items, teaching aids, computer software, and research supplies. This category also includes equipment warranty and service costs. A reasonable amount should be budgeted for these items.
Budget the anticipated cost of publishing the results of the research, and keep in mind that page charges may vary from journal to journal. Consider both page charges and reprint costs.
All travel costs must be justified, especially if foreign travel is anticipated. Travel costs expected to exceed institutional guidelines must be specified. For travel rates, refer to the following: State of Texas Travel Allowance Guide .
Federal regulation and University policy require (with some exceptions) travelers who will be reimbursed by federally sponsored projects to use U.S. flag air carrier service. This is known as the Fly America Act . The Open Skies Agreement is an exception which allows travelers who will be reimbursed by federally sponsored projects to use European Union (plus Norway and Iceland), Australian, Japanese, or Swiss airlines.
The Open Skies Agreement does not apply if travel is funded by the Department of Defense (DOD) or by a department of the U.S. Military. Travel funded by the DOD or by a U.S. military department must be on a U.S. flag air carrier.
For more information/requirements for foreign travel, please review information found here .
When a proposal contemplates a subcontract/subrecipient agreement to a named subcontractor, the subcontractor’s statement of work, detailed budget, and a letter of commitment signed by the subcontractor’s authorized institutional representative, should be provided to OSP. If the Principal Investigator(s) has any direct or indirect financial or other interest in the subcontractor/subrecipient organization, a disclosing statement must be submitted to the OSP, as well. For clarification between a subcontractor, vendor, and consultant, click this page .
Once a subcontract is executed, the department or PI will need to create a Purchase Order in SciQuest and attach the executed subcontract. The department/PI will need to approve the incoming invoice in order for Procurement to issue payment.
Consider, as appropriate, costs for copying, postage, reference books and materials, tuition and required fees for participating graduate students, equipment maintenance, human subject payments and contracted services.
Faculty who anticipate the use of research animals or animals requiring special care, should consult with the Lab Animal Resource Center staff to see whether the funds estimated will be adequate and whether the Animal Resource Center has adequate facilities to accommodate the animals.
Facilities and administrative costs.
Facilities and administrative costs, also referred to as indirect costs, must be included using the University’s federally-negotiated rates unless the sponsor has a written policy applicable to all potential proposers which deviates from these rates. All deviations are subject to UT Dallas administrative approval. Sponsor guidelines limiting facilities and administrative costs must be provided with your proposal.
Please note that since the federally-negotiated facilities and administrative cost rates are subject to change , Principal Investigators should be prepared to make adjustments in budgets for such changes. See the Facilities and Administrative Cost Rate Agreement or contact the Office of Sponsored Projects for more information.
Sponsored research projects are considered “on campus” if they reside in any building or on any property owned by the University and the majority (50% or greater) of project effort is expended at that site, no matter the location. Such projects must apply the “on campus” F&A rate to their budget and expenditures. To be considered “off campus”, greater than 50% of the effort (as determined by the budget) of a project must be done at a location not part of UT Dallas.
The Uniform Guidance states cost sharing is not allowed for federal sponsors and will not be used as a factor in the review of applications or proposals. If sponsor guidelines require cost-sharing or matching funds (cash contribution or donation of in-kind services such as contributed time and effort by the Principal Investigator and research group members), provide appropriate letters of commitment from UT Dallas or third-party source for cost-sharing.
All matching funds or cost-sharing commitments must be approved and be documented in writing to the Office of Sponsored Projects with the proposal. Awards will not be processed unless there is a cost center identified for cost share. View the webinar on cost share for additional information.
Categories:
Proposal budgets and budget justifications are the financial road maps of sponsored projects. When thoughtfully and strategically built they both help propel proposals to award and pave the way for effective post-award management. Visit the ORA Budget and Budget Justifications webpage for the Stanford Detailed Budget and Budget Justification templates and resource links to help you build successful budgets and budget justifications.
Do you have sponsored project budgeting questions? Contact the ORA Client Advocacy & Education team . No question is too big or too small. We're here to help!
To be a successful candidate for a research grant, you need perfect budget formulation and justification. Here, we will help you plan the research budget for your grant proposal and give you handy tips to transform it into a convincible form.
Your budget is the skeleton of your grant proposal. It provides the estimated finance your research needs to be completed in a particular time range. It also gives the funders an exact knowledge about where their funds will be used and how will they be financed ( Asya, 2008 ). It is your responsibility to postulate clearly how you will manage the funds if granted. An excellent budget plan will compel your funders to assume that you have thought about every financial detail concerning your project.
Certain wordings are preferred to convey your research budget information better. It is important to familiarize with them before constructing the budget section of the proposals. The lexis includes:
These are the expenses that are utilized solely for executing your research. For example, expenses on your research staff members, tools, materials, and travel finance.
These are the overhead charges reserved for institutional facilities that you avail yourself while conducting your research. For example, institutional laboratory, electricity, and water usage costs.
These are the additional benefits provided to the personnel, along with their basic salaries. Every institution has its own set of fringe benefits rates.
It is a group of institutions that apply for a grant together as one. They have reached a grant agreement, and one of the institutions represents them all. The budget is divided between them.
There are two budget designs used in the NIH grant applications. Specific points will decide the type of budget design form you have to use for your application. These are:
Your budget design is considered modular when your research fulfills the following criteria:
Your budget design should be in detailed form if your research project fulfills any of the below-mentioned criteria:
For the modular design, you have to fill out the PHS 398 modular budget application form, and for the detailed design budget, you have to use the R & R detailed budget application form.
Your budget planning starts when you find the research question and decide on a suitable study design. You should also be able to guess the unpredictable charges that can arise while conducting your research ( Sudheesh, Devika & Nethra, 2016 ). There are five main points to keep in mind while planning your research budget:
Think about all the things that will affect your research budget. These are mainly the study design, testing procedures, sample collection methods, and research settings. The more complicated and unique these essentials will be, the higher will be your budget requirements. Also, observe the already present resources and will they benefit your research budget.
The next point to consider while planning your budget is to abide by the budget rules and limitations of your particular funding agency. Read each instruction carefully and remember not to deviate from it. It is expected of you to provide the exact list of items necessary for your project.
Thirdly, a breakdown of each item into its related category should be made along with its cost. A breakdown of the budget item-wise and year-wise with cost calculation should be done. Point out the recurring and nonrecurring items that are directly related to your research. All this planning is done beforehand to ensure proper budget management.
For every enlisted item, you should be able to provide a solid justification for its importance in your research. Only a well-justified budget document can win the confidence of the peer reviewers.
Reviewing is the most significant step for every document or proposal. You can ask your team members to review your budget document for you. Also, recalculate the cost of each item and the total items combined cost per annum. Keep in mind that too low or high budget will only raise suspicion in the mind of your reviewers. So, make sure you plan a research budget range, not more than the maximum limit set by your funding agency ( Michael et al., 2019 ).
Projecting your finances into your application requires skills. When writing, we primarily divide our budget into two sub-sections. These include:
As mentioned before, these are the direct expenses on which your research is largely dependent. So, firstly, give the heading of direct costs and then further give the following subheadings with explanations.
Personnel Involved
If your research project involves resource team members, here is where you have to mention them. Your resource team includes the technicians, laboratory attendants, site caretakers, data entry personnel, junior researchers, and the senior researcher involved. Specify their allowances and salaries in an organized manner.
Recurring Expenditure
These expenses occur regularly and yet cannot be avoided. These include equipment usage, laboratory-conducted diagnostic tests, telecommunication charges, chemicals, and any other essential items. Fees for human subjects involved in your research are also stated here.
Non-recurring Expenditure
These are the costs of items for which you have to pay one-time charges, and then their use is free. These include buying charges for the printer, computer, or other electronic items. Once you buy them, they are charge-free. Thus, you have to specify all the non-recurring charges in your budget form.
Traveling Expenditure
In this subheading, specify the amount spent on your traveling for research purposes. Separately mention your traveling costs for attending research-related conferences, seminars, and training. Also, mention the travel expenses for the surveys and data collection. Visiting expenses to other institutions for the sake of a research study can also be mentioned here.
The second sub-section is indirect expenditure. It includes facilities that are indirectly related to your research project. These can be library facilities, electricity, and water usage for your experiments and test conduction. These are also called overhead charges that are paid specifically to the institution for providing such facilities ( Ahmed & Abdullah, 2017 ).
In the final paragraph, write a short finalizing note relating your budget outlining the main point. This should be a 4 to 5-lined paragraph.
Most of the funding agencies separately require justification for each item that you specified in your above-mentioned budget form. This document is also known as the budget narrative page. It reasons the importance of that item for your research conduction. Each item is mentioned in the same order as in your budget form and should be justified respectively ( Al-Jundi & Salah, 2016 ). It is best to make a three-columned table with the name of the item in the first column, the quantity and cost in the second column, and a justification statement in the third column.
In the last, you have to provide a summarized form of your budget for your proposed research. It is written at the end when you have completed writing your whole application. In this, you have to specify every item with its cost per annum. The non-recurring items will only be specified under the first-year heading as they have a one-time expense. Likewise, the recurring items will be mentioned in both years, along with their costs.
The following points will enhance the esthetics of your budget section:
Writing the budget items under a categorized heading will make it easy for the reviewers to retrieve the necessary points in your budget. You can use bullet marks or checklist signs to highlight your main points. This will show the reviewers that you have the budget representation skills and that your enlisted budget finance is authentic.
Try to write your budget essentials in a tabulated form with three main columns. The first column represents the item name. The second column specifies the cost of that particular essential. The third column signifies the importance of your particular essential in performing your research. This will save both time and effort of reviewers who have to scrutinize many applications at a time.
The pattern you follow for each essential specification in the budget form should be followed in the same manner while writing the budget justification document. There should be a flow in your budget data and which will further enhance its esthetics.
Your language should be simple enough to be understood by a common person. Complicated terms and phrases will only make it difficult for reviewers to reach your point of view.
Your budget prepares you for all the financial aids you need to conduct your research. It informs you about the expenses of each research item and method. In this way, you can choose an economical procedure for your research. The budget section is considered as the key factor of success or failure for your proposal. This section requires a skillful approach and should be handled delicately. Nowadays, research writers record their budget in the form of electronic spreadsheets. It is easy to manage the budget essentials and the expenses via these excel spreadsheets. You just need to point out and categorize the direct and indirect costs in the already drawn tabulated budget spreadsheet. Hence, you will be able to plan and compose a well-scripted budget by following the instructions given in this article.
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While financial support is crucial for conducting research, acquiring funds for your research is a challenging task and so is planning the budget for grant proposal !
The key requisites of a successful grant proposal are:
In an attempt to grab the attention of funders, researchers strive to submit innovative research proposals and often overlook other elements when creating a successful grant proposal. One such neglected section is the budget for grant proposals . It is important for funders to know how finances are being utilized. Therefore, adequately estimating how much the project will cost and how the finances will be distributed can make all the difference. In simpler words, your grant proposal must explain your request in both textual and numeral forms.
It is often a challenge for budding researchers to present an estimated cost of their research. However, remember that the grant budget is not an organizational budget! Furthermore, in today’s age of stiff competition, even senior researchers will benefit from improving their budgeting skills. In this article, we will discuss ways on how to draft a compelling budget for grant proposal.
Why is the Budget Section Important for a Grant Proposal?
A grant budget is important to paint the financial picture of your research proposal to the funders. The budget for grant proposal provides the following:
What Constitutes a Budget for Grant Proposal?
An estimated budget quantifies the financial plan for possible expenses during the research project. The budget for grant proposals must demonstrate and serve a plan for funders on how the researcher/s will utilize the money for both operational aspects of the project and miscellaneous expenses associated with the research.
In order to stand out from other applicants, researchers can customize the budget for grant proposal as per the funding agencies’ guidelines. However, the major elements of the budget plan comprise two broad categories: Direct and Indirect Costs
Direct costs are perhaps the most critical part of your budget section. These expenses are solely incurred for executing your research. It broadly includes expenses towards:
Furthermore, direct costs are sub-categorized into the below two forms based on their occurrence during the research:
As human resources are required for the study, salaries with allowances must be budgeted as per funding agency guidelines. The human resources may include personnel such as site manager, research assistant, junior research fellow (JRF), senior research fellow (SRF), research associate, technician, or data entry operator, and attender.
These expenses are variable and may keep on occurring throughout the study period. Consumables, chemicals, glassware, laboratory test charges , diagnostic kits, stationery, prints, photocopies, communication, postage, telephone charges, survey tools, questionnaires, publication charges, reprints, binding, etc. are some of the particulars in this category. Additionally, recurring expenses could also include allowances for patients/participants, food charges, and medical charges.
These are expenses that are one-time in nature and do not recur at regular intervals throughout the research duration. Equipment or instruments along with its accessories, software programs, computers, printers, electronic accessories of existing instruments in your lab, etc. are some of the particulars covered under non-recurring expenses.
Travelling expenses can be used for attending meetings, conferences, workshops, and training programs relevant to your research study. Some funding agencies allow both foreign and domestic travel, whereas, some do not. You can mention traveling expenses for collection of data, survey, and visit to other centers in a multi-centric study in this sub-section.
The detailed budget for grant proposal should be clear, well organized and easy to understand. Below is an example for grant proposal. The costs described below are direct costs:
These do not directly attribute to specific expenses of a research, but rather act as an accomplice to run a project. These are also termed as overhead charges. Particulars such as electricity bill, water, library membership, accommodation charges, administrative charges, etc. are included in indirect costs. Generally, about 5–15% of the total budget is provisioned as overhead charges, which is credited to the institution directly. However, this range may vary as per the funding agency.
Tips to Draft a Compelling Budget for Grant Proposal
So when does your budget planning begin? It’s usually when you have your research question and a suitable study design ready!
Here are seven top tips to follow whilst drafting a compelling budget for grant proposal :
Study design, testing procedures, sample collection methods, and research settings are the essential factors that need to be focused on to resolve the research problem. The uniqueness and complexity of these essentials increases the chances of being incorporated in the budget.
You must abide by the budget rules and limitations provided by your potential funder and draft the budget accordingly. Scrutinize each instruction and do not deviate from its actual meaning. Most importantly, stick to the list of requisites provided by the funding agencies.
Breakup all particulars with their costs under related categories as mentioned earlier. Furthermore, follow an item-wise and year-wise tabulation method to present your budget.
Funders like to see that the investigators are valuing the finances provided and not splurging on irrelevant particulars. For instance, you must mention if you can redirect resources such as equipment or instruments that are already available from your previous study and can be used in your present study.
While you are seeking for funds , the funder is interested in investing in projects that bring other resources to the table. Owing to this, your budget section must include two sections:
Inclusion of expenses is obviously the major part of the budget section. Likewise, mentioning revenue in this case means other sources that will pay for your research.
You’d wonder—why do the potential funders care about where the other money is coming from? Well, it is to instill trust in the funders. Acquiring some or most of the needed funds gives credibility to your research and ensures the funder that organizations are willing to invest in non-profit research.
It is critical to base your budgeted expenses on the true costs of your project requisites. But pulling numbers out of thin air will lead to confusion and tally errors. Make sure that you find the cost of all particulars from trusted sources and quote them accurately in your budget. Avoid over-estimating your budget, as it may repel the funder. As you know, “something is better than nothing”! So stick to the narrative of your research and align the budget of grant proposal to it. Subsequently, it is important to keep in mind that a very low budget will raise eyebrows to suspicion. Thus, make sure what you request for is reasonable.
Describe your methodology to track the expenses throughout the project. You must mention how you plan to effectively manage your expenses and review them. Additionally, give references of some tools that you will be using to manage your finances.
Have you been facing challenges in drafting the budget for grant proposal ? What did you do to improve your budgeting skills? Try these tips while drafting the next budget for your grant proposal and let us know how it works out for you and your colleagues.
Hi , can i please get a template? for research grant
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The budget should list all cost details for the year or another appropriate period of time. It should include any applicable salaries & wages, fringe benefits, services, supplies, equipment, publications, travel, other direct expenses, and any facility and administrative costs. A brief outline for developing a budget is included in Michigan Tech's policies and procedures manual .
Sample budgets are available for Michigan Tech researchers in the RD Toolkit .
You can download a budget worksheet (Excel) to help you with this process. Refer to the Guidelines for Budget Development for additional calculation help and information.
Follow these cost considerations when developing your budget:
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There is no magic formula for creating a research budget. Depending on the kind of research and the potential changes it can bring about, careful planning and allocation is necessary. Budgets can, thus, vary depending on the sponsors, besides other factors. However, every research budget has some essential guidelines.
Research budgets depend on the project deliverables, timelines, and milestones. The resources required also depend on the scope of the projects and sponsors.
Designing a research budget is not easy. You will need to consider the resources required and categorize them according to guidelines to ensure funding is not a problem. The categories may include the project’s necessary supplies and equipment and the wages you must pay your assistants. Research budgets are allocated for a year, but you can also plan for a quarter, depending on the project.
At SlideTeam, we have taken care of all these pain points and designed content-ready presentation templates that address each of these points. You save the time, the resources, and the tedium in having to make these presentations from scratch.
What is even better is that each of the templates is 100% editable and customizable. The content-ready nature means you get a starting point and a structure to guide your presentation; the editability feature means you can customize the template to audience profile.
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This PPT Template is the perfect solution for your research budgeting needs. The matrix suggests what solutions are essential with the help of relevant keys that assign priority levels. Priorities go from low to highest influence with increasing importance. They are color-coded, with white being the lowest and red being the highest influence. For instance, Maintain Awareness and Evaluation are red in many cases, as shown in the slide. So, that means that they bear a significant impact on the research budget. Similarly, Strategic and Budget Planning are color-coded white, which means they don't impact the research budget as much in some cases.
With the impact matrix and heatmap, mapping out your research budget will be a breeze.
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Research and Development departments can plan the budget required for projects for the two halves of the year using this PPT Template. The presentation template highlights areas for which you will need funding such as research and development, skills, innovation and patenting, and cooperation. You can also list your requirements for each area. For instance, under R&D and skills, you may need funding for medical research, chemical research, etc. Similarly, for innovation and patenting, you may need funding for product innovation and to cover patenting costs. Likewise, cooperation may involve setting up new laboratories and research centers. With this outlined, you can split the budget required for your research project for the two halves of the year.
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This presentation template for the budget estimate for your research and development project is apt for arriving at the calculation for the four quarters in a year. You can define and assign tasks as per the requirements of the project and allocate a set budget for each. The tasks may involve conducting market research and competitive analysis or be innovative or developmental. In either case, you can use this template to set a fixed budget for each task in the research project.
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Clinical trials involve many phases, and you should let your research associates know about each step. For instance, you could post the information on the company website and provide relevant insights during the pre-trial phase. Similarly, you can offer the welcome letter and training materials during the trial start-up. During the trial, you can send newsletters to your associates, giving them relevant information and other valuable insights. All this requires funding, and you will need to allocate a budget. However, you don't need to worry, as this PPT Preset has you sorted, with dedicated sections for the pre-trial, trial start-up, during-trial, and trial-end phases. It also has communication, insights summary, and budget sections. You can use the budget section in the matrix to allot a budget for each trial phase and each section, including communication and insights.
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The PPT Template has all the core elements required for your market research strategy, including the budget and area. This slide lets you list your clients, the items, and when to send them. You can also list background information related to your research, the aim and objectives of the project, the areas covered, and the budget.
The presentation template also provides a dedicated space to list your brands and products and a timeline for completing the research.
This presentation template is an easy-to-use tool for determining the budget required for psychology research. With this slide, you can allocate a budget for each area, including diagnostic assessment, training, technology and tools, supplies, travel, and workforce. It is a practical, hands-on template with information required to plan the budget for conducting psychological tests and evaluations. Please note that depending on your geography, taxes might or might not deserve a separate column.
Every company needs to conduct market research before launching a new product. The PowerPoint Presentation that you have here can help you plan the budget required for conducting such market research. It includes necessary information, including business and research objectives, priorities, methodologies, and forecasts. The presentation template also has the metrics required for the research, such as improving customer engagement, introducing new products, and increasing market share. For example, to improve customer engagement, you may be looking to improve marketing approaches and gather customer feedback. The methods you may use include conducting marketing mix studies and tests. Similarly, you may want to optimize your social media posts and profiles and conduct A/B tests when introducing new products. Improving your market share may involve analyzing the competition. You may even use this handy template for conducting market research, estimating, and forecasting budgets.
You can plan your research and the budget required using these templates. Remember that each new product launch has lots of research behind it. When going for a new launch, don’t just research the products and its uses, but also the markets – particularly, your target audience and how they will benefit from your brands. When allocating the budget for your research, don't forget to note your total resources and try to be as cost-effective as possible. You must consider the expected costs that you may incur and use these templates to work out a research budget that fits within your resources.
What should be included in a research budget.
Research budgets should include all direct costs, and facilities and administrative costs (F&A). The facilities and administrative expenses are needed to achieve the primary objectives of the research. The project description should state the proposed budget and serve as a financial expression for the research. The idea is to ensure that the budget is comprehensive.
You can create a simple research budget by following these steps:
A budget can provide a detailed and clear picture of the structure of the research project, not to mention that it also lets you know how well it can be managed. The research project budget usually lets you see whether it will go according to plan and if it is feasible. So, it must be complete and reasonable.
The budget for a research project depends on the type of research and the proposed difference it could make to a field of study. For instance, the average budget for a market research project may vary between $20,000 and $50,000. Similarly, larger scientific research projects may cost millions or even billions of dollars, as in pharmaceuticals.
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As the nation’s largest public research university, the Office of the Vice President for Research (OVPR) aims to catalyze, support and safeguard U-M research and scholarship activity.
The Office of the Vice President for Research oversees a variety of interdisciplinary units that collaborate with faculty, staff, students and external partners to catalyze, support and safeguard research and scholarship activity.
ORSP manages pre-award and some post-award research activity for U-M. We review contracts for sponsored projects applying regulatory, statutory and organizational knowledge to balance the university's mission, the sponsor's objectives, and the investigator's intellectual pursuits.
Ethics and compliance in research covers a broad range of activity from general guidelines about conducting research responsibly to specific regulations governing a type of research (e.g., human subjects research, export controls, conflict of interest).
eResearch is U-M's site for electronic research administration. Access: Regulatory Management (for IRB or IBC rDNA applications); Proposal Management (eRPM) for the e-routing, approval, and submission of proposals (PAFs) and Unfunded Agreements (UFAs) to external entities); and Animal Management (for IACUC protocols and ULAM).
Sponsored Programs manages the post-award financial activities of U-M's research enterprise and other sponsored activities to ensure compliance with applicable federal, state, and local laws as well as sponsor regulations. The Office of Contract Administration (OCA) is also part of the Office of Finance - Sponsored Programs.
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The Principal Investigator has primary responsibility for budget planning, in consultation with the department chair or director of the research unit. Budgets for all sponsored proposals are subject to review by ORSP.
Certain funding agencies (e.g. the National Institutes of Health (NIH)) are increasingly allowing data management and sharing (DMS) costs to be included as direct costs in proposal budgets.
NIH DMS costs should be shared in the appropriate cost category, e.g., personnel, equipment, supplies, and other expenses, following the instructions and providing details as instructed within the applicable form (e.g., R&R Budget Form or PHS 398 Modular Budget Form).
In most cases, the DMS Plan oversight at U-M will be provided by the principal investigator (PI) and other study personnel. If help is needed, consider these resources:
Sponsors often prescribe the budget format that must accompany the proposal, including the specific cost categories that should be identified. The format shown on the sample budget page may be used, however, if one is not specified by the sponsor. Be sure to check with your department, unit, school or college administrator to determine the best practice.
The budget should be subdivided into periods of 12-month duration (unless partial year funding is anticipated). A "starting date" should be specified, since it is essential to ensure accurate budget calculations. If cost-sharing is included, each budget period should include columns for both "Sponsor" and "University" costs. A budget summary should be included for proposals with multi-year funding. All budget entries should be rounded to the nearest whole dollar.
The salary category in the proposed budget should include the names and/or titles for all personnel involved in the project. The number of person months or percent effort to be applied to the project should also be shown. Total salary costs can be determined by applying the percentage of effort to the current salary rates. An appropriate escalation rate (e.g., 3%) should be used to determine salary requirements beyond the current fiscal year. While standard percentages are applied to make these calculations, no commitment and no constraint on the rate of increase for a given individual is implied by this procedure.
If a faculty member is working on several sponsored projects, care must be exercised to ensure that no more than 100 percent of effort is committed to the aggregate of all projects and other University responsibilities.
Summer salary for faculty with academic year (AY) appointments can be figured at one-ninth of their institutional base salary for each month of summer effort. A maximum of two and one-half months may be included for the whole summer. Some sponsors, however, impose specific limitations on summer salaries. The National Science Foundation, for example, usually will not pay for more than two months of summer research at a rate of one-ninth of the AY salary per month.
Costs incurred for the same purpose in like circumstances must be treated consistently. For example, salaries of technical staff should be treated as direct costs wherever the work to be undertaken can be identified with a particular sponsored project. Direct charging of these costs may be accomplished by specifying individual positions within the project budget or through the use of recharge rates or specialized service facilities, as appropriate under the circumstances.
The salaries of administrative and clerical support staff normally should be treated as indirect costs . However, it may be appropriate to charge these costs directly to a sponsored project when the participation of the administrative/clerical staff being charged to a federal project meet all four of the following conditions as set forth in §200.413 of the Uniform Guidance:
“(1) Administrative or clerical services are integral to a project or activity;
(2) Individuals involved can be specifically identified with the project or activity;
(3) Such costs are explicitly included in the budget or have the prior written approval of the Federal awarding agency; and
(4) The costs are not also recovered as indirect costs.”
The meaning of (4) is the same as that of 200.403(d) above. That is to say, the project must require support services beyond the normal scope necessary for the typical sponsored project (i.e., it is an unlike circumstance).
Personnel may be hired to work on a sponsored project on an hourly basis for periods up to 12 months. Individuals hired on this basis receive no staff benefits other than Social Security and should be advised accordingly. The Personnel Service Center should be consulted to obtain the appropriate hourly rates for various categories of employment.
Staff benefits are charged to sponsored project accounts on a real cost basis. Depending on the mix of personnel assigned to the project, the staff benefit rate may show significant variation. While it may be possible to apply an average benefit rate (30%), it may be more appropriate in some situations to calculate the staff benefits on an employee-by-employee basis. The range of applicable benefit rates are provided in Staff Benefits Table .
GSRA Cost Estimates are for budget estimating purposes only and may vary from school to school. A GSRA appointment may be held from May through August, even though the GSRA is not enrolled in the University during that time. If the appointment is for the winter and fall terms, the fringe benefit charges should be budgeted for the full year, since the student is eligible for coverage during the intervening summer even though he or she is not on a GSRA appointment at that time.
The non-resident tuition differential is provided by the University for out-of-state students appointed as GSRAs. In-state tuition should be charged to sponsored accounts for GSRAs with appointments of 25% or greater. However, Schools and Colleges may provide tuition fellowships to cover a portion of the in-state tuition for GSRAs (see GSRA Cost Estimates ). The portion of the in-state tuition that remains after the fellowship is applied must be included on the grant as a charge to the sponsor.
In-state tuition charges should not be included as part of the GSRA stipend. The modified total direct cost (MTDC) base on which the University's indirect cost rate is calculated must exclude tuition charges. Therefore, indirect costs are not recoverable on tuition charges included in proposals for which the indirect cost rate is based on MTDC. Please contact the appropriate ORSP Project Representative should you have any questions.
Consumable supplies are items used exclusively in support of project objectives. If it can be demonstrated that such supplies are used only in the conduct of the project and not for other purposes and are consumed completely in the course of the project, such items can be included as direct costs. Laboratory supplies, laboratory notebooks, printer paper for research data and reports, and so forth usually can be justified as consumable supplies. However, when supply items are purchased to support the multiple activities of project personnel, they are considered office supplies and cannot be charged directly to federal funds. Such items would include University stationary, pens, tablets, file folders, staples, paper clips, etc.
The estimated costs of consumable supplies and materials should be indicated in the proposed budget. It is generally acceptable to sponsors to provide a breakdown of supplies and materials by broad categories as opposed to the detailed listing of individual items. Contracts awarded by industries holding a prime contract with a federal agency, however, may require detailed itemization of supplies.
Major items of equipment proposed for acquisition should be itemized by descriptive name and estimated cost, and an adequate justification should be provided in the proposal narrative. Items costing less than $5000 or with a useful life expectancy of less than one year normally should be included under "Supplies and Materials." Shipping and/or installation charges associated with equipment acquisitions should be included in the cost estimates but generally are not itemized.
Charges for computing services should be budgeted whenever these costs are justified. It is essential, however, that the budget clearly differentiate between central computing services provided by Information Technology Services and other computing services.
Other specialized service centers that have an approved user rate should be included in the proposed budget on a cost basis that reflects the recharge rates with the anticipated number of hours or other units of service clearly indicated. Once established, the schedule of rates must be applied to all users of the services/facilities, including internal-university users. Recharge rates are designed to recover, over the long term, not more than the aggregate cost of the services provided. The recharge/user rate should be included as part of the modified total direct cost (MTDC) for the project and should carry the appropriate indirect cost rate .
Federal agencies frequently establish a maximum daily rate of pay for consultants--specific dollar limits for various agencies are available from ORSP. The University must enter into a formal agreement with the consultant prior to the initiation of his or her effort. Consultant agreements as subject to the full recovery of indirect costs at the rate applicable to other direct cost items in the proposed budget.
The entire cost of a subcontract is normally shown as a single line item under "Other Direct Costs." A formal proposal from the subcontractor--including a statement of work, a detailed budget, period of performance, and key personnel--should be included to support this cost element. The Project Director should provide an explanation of why and how the proposed sub-contractor was selected, including the number of bids obtained.
Subcontracted effort requires a formal agreement between the University and the subcontractor, signed by a University official authorized to enter into contractual agreements on behalf of the Board of Regents. See: the Subcontracts and Hybrid Purchase Orders web page for criteria and procedures. Indirect costs are recovered on the first $25,000 of each subcontract.
Indirect costs are real costs of University operations that are not readily assignable to a particular project. The sample budget illustrates the procedures for applying the indirect cost rate .
Human subjects often are paid a fee for their participation in research projects. Protocols for the use of human beings in research, teaching, or testing are reviewed and approved, according to federal, state and university policies. (See: Human Research Protection Program )
Funds may be requested from the sponsor to cover travel costs associated with the proposed project. Sponsors often require a breakdown of such travel costs by trip, reflecting the purpose, point of travel, number of persons, number of days, air fare, lodging and meal costs (per diem), and so forth. If foreign travel is contemplated, the proposal should include relevant information (including names of countries to be visited) and justification. Some sponsors have special regulations (e.g., use of domestic air carriers) governing foreign travel.
Costs of preparing and publishing reports of project results should be included in proposed budgets. Since page charges often are billed well after the completion of the research, it may be necessary to secure time extensions to pay these charges prior to the time that the project is closed out.
Other anticipated direct costs should be itemized--for example, equipment rental, maintenance agreements, or off-campus space rental. Telephone services and postage should not be included unless these costs are expected to be major elements in the project (e.g., telephone surveys). "Miscellaneous" or "contingency" categories should not be included. Items normally considered indirect costs should not be included in the proposed budget unless they are extraordinary and for unlike circumstances (e.g., utility costs required to operate a high-energy particle accelerator).
Network costs, including the hardware, software, personnel services, public access sites, and other related costs required to enable University personnel to share software or data or to communicate electronically with other individuals, are generally considered to be part of the physical infrastructure of the University and should not be included as direct costs in the proposal budget, as these costs are indirect in nature and included as a component of the Facilities & Administrative rate. However, individual workstations and specialized hardware and software attached to the network, which are not available to all users, are not included as part of the network costs and therefore may be treated as direct costs and recovered from sponsored projects through the use of approved recharge rates.
Questions regarding the appropriate treatment of network costs as either direct costs or Facilities & Administrative costs in proposal budgets should be forwarded to the Office of Research and Sponsored Projects.
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In general, while your research proposal outlines the academic significance of your study, the budget and budget narrative show that you have an understanding of what it will cost for you to be able to perform this research. Your proposed budget should identify all the expenses that are necessary and reasonable for the success of your project—no more and no less. The Office of Undergraduate Research understands that estimates, by definition, are imprecise, yet we encourage students applying for funding to research all aspects of their budgets with honest diligence.
If your research requires you to be in the field or in another city, state, or country, travel expenses may include transportation (airline, train, taxi, etc.), passport and visa fees, as well as fees for any vaccinations you may need to travel. Be sure to include anticipated major incidental expenses, such as printing, copying, fees for accessing archives, etc.
Please note that our funding restrictions prevent us from providing support for lab materials, equipment, software, hardware, etc.
Keep in mind these tips:
Convert all foreign currency figures to U.S. dollars.
Round all figures to whole dollars.
Make sure your budget and your proposal are consistent.
Identify areas where you are making efforts to save money!
Browse through these sample budgets for a better idea of how to outline your expenses and contact us if you have questions!
Sample Budget 1
Sample Budget 2
Sample Budget 3
Sample Budget 4
Research is not only a time-intensive exercise; it is also a capital-intensive one and as such, it needs a budget. Drafting a research budget is no walk in the park because you have to know exactly how much will be needed to see the process through, not to mention you may have to account for every penny spent. By virtue of being such a technical document, you will always need some help drafting it; and that’s where the research budget template comes in.
The template enables you to get a rough idea of some of the elements to include in the budget, so you do not run into any financial dead ends. Let us learn more of this critical template and see why you need it.
A research proposal budget sample is in many ways similar to the research budget sample, only that at this stage, it is still a proposal.
This sample is often written in a linear or tabular format and it details all the expenses that are associated with the proposal project.
A research study budget is a document that contains a breakdown of the funds needed to meet the various activities involved in conducting a research study. It is important to remember that a research study is not just intended to develop new methods or improve the existing practices; one of the ultimate goals of the study is profit making by the researchers.
Therefore, this budget should be able to convince stakeholders, more so the sponsors, that the study is a viable cause and that investing their money in it will be worthwhile.
A research budget example is basically a sample document of a research budget. As there are possibly hundreds or thousands of types of researches done daily, there is no hard and fast rule on the details that need to be in such a sample document. However, the rule of thumb demands that the names of the researchers be included, along with the identified challenges and expected financial investment for each challenge.
The document can take any form but primarily, the names of the researchers and the expected challenges come on the left-hand side with their corresponding assignments and projected budget for each problem respectively coming on the right-hand side of the document.
Whether you are an expert or a novice in writing research budget proposals, one thing that’s for sure is that you will always find yourself making purely avoidable mistakes.
As these documents are highly sensitive, mistakes are things you can’t afford; which is why you are advised to always keep a sample template for reference.
Opps what went wrong, related posts.
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A budget proposal summarizes the estimated costs for an upcoming project in order to secure funding from project stakeholders. You can also use budget proposals on the company or campaign level. Learn how to create a detailed budget proposal using our free template.
When you have an idea for a new project, you’ll need the right people on board to bring it to life. While your team members can create the deliverables, projects often can’t move forward without funding—which requires approval.
In this article, we’ll cover how to create a detailed budget proposal. A strong project budget proposal can be the deciding factor in whether your project initiative becomes a reality or needs to go back to the drawing board. Then, use our free template to get started.
A budget proposal summarizes the estimated costs for an upcoming project in order to secure funding from project stakeholders. Your budget proposal breaks down the cost elements associated with your project. This shows stakeholders the benefits and/or drawbacks of getting involved.
The costs you include in your budget proposal will likely fall into four categories:
Direct costs: Direct costs are expenses directly related to the project in question. These can include labor costs, team member hours, software, and the cost of specific project activities.
Indirect costs: Indirect costs don’t relate directly to the project in question. These items may help you run your project, but they may also help run the entire company. Indirect costs are typically expenses like utilities, insurance, IT services, and server fees.
Equipment and materials: The equipment and materials section is actually a sub-category of direct costs because these are physical items you’ll need specifically for the project in question. However, because these items are unique in nature, they get their own section in the budget proposal.
Travel and other expenses: A project may require travel expenses if clients or customers are involved. Other expenses may include training, taxes, and other unexpected or variable fees.
In this article, we cover how to draft a budget proposal for a project. However, you can also use budget proposals at the company or campaign level.
A budget proposal breaks down the expenses you’ll incur during project execution. A clear budget proposal can help your team and others involved in the following ways:
Creates financial transparency: A budget proposal offers transparency by making finances an open topic of conversation as soon as you develop a project idea. Project transparency increases team productivity because it shows team members how their work connects to the larger picture. In a similar fashion, seeing the project budget connects stakeholders to the internal work process.
Shows project value and impact: Budget proposals are a great way to give your stakeholders an idea of how the project will provide value for your organization and to the outside world. By showing what you’re spending money on—and why spending money on a particular project or initiative matters—you’re implicitly presenting the validity of your project ideas.
Displays cost efficiency: A budget proposal is a chance for you to do research and choose materials, vendors, or other services that may fit your product and target market. By breaking down the costs in each area, you can prove the cost efficiency of your project.
Helps forecast profits: If your project involves the creation of a product or service, a budget proposal can help you share your sales forecast . You’ll need to know what you plan to spend on a project so you can determine your net earnings.
Provides opportunity for comparison: Once the budget proposal is complete, stakeholders can compare it to current and past projects to decide whether to move forward.
While the purpose of a budget proposal is to receive funding or approval, you can also use your budget proposal as a budget plan for when the project becomes reality.
Your budget proposal template is informative for stakeholders who may fund the project, but it’s also helpful for your internal team. When you get to the project planning stage, you can use your budget proposal for things like team utilization rate and resource allocation .
To introduce your project budget proposal, start with an overview of your project objectives . By explaining what your project is about and the goals you hope to achieve, you can provide context for your budget proposal. Without context, your potential stakeholders may have trouble understanding what—and why—you plan to spend in certain areas.
You may include a budget proposal within a larger project plan , but budget proposals can also stand alone. If a stakeholder solely has a financial stake in your project, then they may not want to read about detailed project timelines and workflows . However, they’ll need to understand the high-level purpose of the project to feel comfortable approving your project budget.
After you briefly explain your project objectives, include a summary of cost elements. Your cost elements may include direct and indirect costs, equipment and materials, travel costs, and miscellaneous expenses.
This section is essentially a table of contents and lists the various types of costs you’ll break down. Every budget proposal should include a list of cost elements so stakeholders can preview the information they’re about to read.
Depending on the project type and industry you’re in, your cost elements can sway from the traditional categories. For example, SaaS companies may not need much in the way of physical equipment or materials, but they often spend money on things like online services, subscriptions, freelancers, and software. Alternatively, manufacturing companies often invest heavily in machinery and other long-term equipment. Summarize your cost elements based on your largest expense categories.
Once you’ve listed your cost elements at the category level, it’s time to break down your costs one by one. This is your chance to dig deeper into the details and give your stakeholder a clear picture of where you plan to spend it, and why these expenses are necessary.
For both direct and indirect costs, list the following details when breaking down your costs:
Cost type: List the type of cost included in each category. Cost types may include team wages, utilities, server fees, or specific project costs.
Amount: Explain what the expense costs at its most basic level. For example, you may have a team member working for $25 per hour. If you have team members with different hourly rates, put them on separate lines.
Hours: If any of your expenses occur hourly, list the number of hours associated with that cost. This may include the number of hours a team member will work on your project. This number could be anywhere from 40 hours to 1200 hours if you have multiple team members working on a project for an extended period.
Cost explanation: Provide additional detail for the cost in this section. For example, you can explain that you’ll have four team members working on the project—all paid at $25 per hour. Each team member will work 25 hours per week for 12 weeks, resulting in 1200 hours of work.
Total cost: Calculate the total cost of each expense across the entire project. For example, it will cost you $30,000 to pay all four team members for 1200 hours of work.
Equipment, travel, and miscellaneous expenses aren’t that different from your direct and indirect costs. But because these are more likely to be physical items, you can add areas for quantity and unit price versus hours. Explain each cost within your cost breakdown and provide singular and total costs for each item. This should give stakeholders a clear idea of your project budget .
This section is a quick and simple look at all your expenses. Stakeholders need an itemized list of what you plan to spend money on, but they’ll also want a section of your budget proposal that clarifies total costs.
Some may also want to scan through the document and pull these numbers out quickly. This section makes your total budget clear for each cost element, as well as the total budget in its entirety.
Once you’re confident in the budget items you’ve listed, it’s time to submit your budget proposal for approval. Add a signature area to the bottom of your document so stakeholders can sign off on the document once they’ve approved it.
In the budget proposal sample below, you’ll see how two team members organize expected project costs for an upcoming social media campaign.
This budget proposal lists direct and indirect costs associated with the campaign, including things like team wages and utilities.
This is only a preview of what their budget proposal may look like in its entirety. To create your own budget proposal, download a free template below.
A budget proposal is a great way to plan for an upcoming project. But to go further, you’ll need the right tools at your disposal. With work management software , you can create financial goals for projects and larger initiatives, and track them from initiation to completion.
As your projects expand and change, you can adjust your budget and share your data with others. Whether you’re managing expenses or running meetings, you can do it all with Asana .
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A research proposal is a paper that proposes a research project, usually in the sciences or academia and generally constitutes a funding request for that study. A budget is one of the key components of a research proposal and serves as a blueprint for spending the funds from the project. An effective budget for the proposal outlines the proposed project in fiscal terms and helps reviewers determine how the project is to be carried out.
Indirect costs, 1. list your activities.
3. cost each item, 4. put it in a spreadsheet, 5. justify it, more in budget templates.
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How to write a winning research proposal: a step-by-step guide.
When learning how to write a research proposal, it is important to start with a detailed plan that outlines the objectives, methodology, and significance of a research project. A research proposal is a crucial document for securing funding, gaining approval from academic committees, or outlining a structured plan for personal research endeavours. Crafting a compelling research proposal requires a clear understanding of the subject matter, a well-defined research question, and a meticulous approach to planning and presenting your research. This article will explore how to write a winning research proposal and how to navigate the challenges associated with it.
A well-structured research proposal typically includes several key components. Each section serves a specific purpose and contributes to the overall coherence and persuasiveness of the proposal.
The title of your research proposal should be concise, descriptive, and indicative of the main research question or hypothesis. A well-crafted title captures the essence of the study and draws the reader’s attention.
The abstract is a brief summary of the research proposal, usually no more than 250 words. It should provide an overview of the research problem, objectives, methodology, and potential implications. The abstract should be clear and succinct, giving readers a quick understanding of what the proposal entails.
The introduction sets the stage for your research by providing background information on the topic, outlining the research problem, and stating the research objectives. This section should:
The literature review demonstrates your understanding of the existing research on your topic. This section should:
The methodology section outlines the research design and the methods you will use to collect and analyse data. This section should include:
Provide a detailed plan of the research activities and a timeline for completing each phase of the project. This section should demonstrate that your research is feasible within the given timeframe.
If you are seeking funding, include a budget that outlines the estimated costs of your research. Be specific about how funds will be allocated (e.g., equipment, travel, participant incentives).
Discuss the potential outcomes of your research and its significance. Explain how your findings could contribute to the field, inform policy, or have practical applications.
List all the sources you cited in your proposal. Use a consistent and appropriate citation style (e.g., APA, MLA, Chicago).
Be clear and concise.
Use clear and straightforward language. Avoid jargon and complex sentences that might confuse readers. Aim for clarity and precision in explaining your research.
Ensure that your proposal remains focused on the research question and objectives. Avoid including irrelevant information that does not contribute to the understanding of your proposed study.
Provide a realistic assessment of what can be achieved within the given timeframe and resources. Be honest about the scope of your research and any potential limitations.
Edit and Proofread
Your proposal must be clear, concise, and logically organised, following all rules of grammar, spelling, punctuation, and referencing. Adhere to the specific format and style required by your funding source or institution. Proofread your proposal multiple times, ideally with the help of a colleague or mentor, to identify and correct any mistakes or inconsistencies. Enhance the proposal’s structure, flow, and language to improve its overall quality. Ensure your proposal is compelling, engaging, and professionally presented.
Writing a research proposal is a critical step in the research process. It requires careful planning, a thorough understanding of the topic, and a clear presentation of your research plan. By following the structure outlined in this guide and paying attention to detail, you can craft a compelling research proposal that effectively communicates your ideas and secures the necessary support for your research.
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Research/Study Research/Study
Harris proposed an unrealized capital gains tax provision that would impact only certain American households worth more than $100 million
Written by Pete Tsipis & Reed McMaster
Published 08/28/24 3:44 PM EDT
During the Democratic National Convention, Vice President Kamala Harris’ presidential campaign told multiple outlets that she would support a provision — which was included in the Biden-Harris administration’s federal budget proposal — to tax unrealized capital gains of the ultrawealthy. The policy would affect only those with $100 million or more in tradable assets.
In response, right-wing media repeatedly and falsely claimed that the proposal would actually impact everyday Americans, retirees, and independent businesses and that it could severely damage the economy.
The harris campaign has signaled support for a tax on the ultra-wealthy, right-wing media are pushing misinformation about the policy and who it would affect, right-wing media demonized harris’ tax policies by calling them “wealth confiscation,” “communism,” and “full-scale socialism” and fearmongering that they would lead to economic turmoil like a stock market crash.
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When Sponsored Programs reviews the proposal, including the budget, we'll be making sure that the proposal meets the requirements set forth in the Code of Federal Regulations. It would be a good idea for you to become familiar with the rules relating to the types of research performed in your department. UC Davis Charging Practices The
A good budget shows the assessors that you have thought about your research in detail and, if it is done well, it can serve as a great, convincing overview of the project. Here are five steps to create a simple budget for your research project. 1. List your activities. Make a list of everything that you plan to do in the project, and who is ...
Proposal Budget Overview A budget is a financial proposal that reflects the work proposed. It outlines the expected project costs in detail and should mirror the project description. A budget is presented as a categorical list of anticipated project costs representing the researcher's best estimate of the funds needed to support the proposed work.
The last most important part is to review the budget and verify the costs and calculation. It is better, if other research team members can review the budget plan and re-calculate the costs thoroughly. Remember, too high budget and too low budget with respect to the research proposal are suspicious and chances of receiving a grant are less.
A research proposal budget is a financial plan that details the costs of a research project. Including both direct and indirect costs in your budget is crucial for accuracy. Justifying each budget item helps in gaining approval from stakeholders. Avoiding common budgeting mistakes can improve the chances of funding success.
A precise estimate of the budget is really the best approach to win a grant. And importantly, once your proposal has been funded, you will find that having carefully estimated the different costs at the application stage will not only guarantee an optimal use of the funds, but also make the practical implementation of the research project ...
Develop Your Budget. As you begin to develop a budget for your research grant application and put all of the relevant costs down on paper, many questions may arise. Your best resources for answering these questions are the grants or sponsored programs office within your own institution, your departmental administrative officials, and your peers.
Research proposal examples. Writing a research proposal can be quite challenging, but a good starting point could be to look at some examples. We've included a few for you below. Example research proposal #1: "A Conceptual Framework for Scheduling Constraint Management".
A research budget contains both direct costs and indirect costs (overhead), but the level of detail varies from sponsor to sponsor. The first step in developing a budget is to carefully read the guidelines of the funding opportunity being pursued. ... such as goods and/or services in support of a research project or proposal. It is challenging ...
Learn: Proposal Budgeting The following materials have been developed to assist with proposal budgeting. You can find other proposal and award learning resources here. Written materials: OR Budget Templates - Webpage of helpful OR budget templates with FAQs, a how-to video, an effort calculator and template descriptions Preparing a Proposal Budget Handbook - Comprehensive 27-page document
A budget, accurately detailing the funds necessary to carry out the technical statement of work, can strengthen the total proposal and increase the likelihood of funding. Furthermore, a carefully prepared budget can often identify weak areas in the proposal narrative and result in improvement of the technical proposal.
Budget Basics Tools & Resources. Proposal budgets and budget justifications are the financial road maps of sponsored projects. When thoughtfully and strategically built they both help propel proposals to award and pave the way for effective post-award management. Visit the ORA Budget and Budget Justifications webpage for the Stanford Detailed ...
Try to write your budget essentials in a tabulated form with three main columns. The first column represents the item name. The second column specifies the cost of that particular essential. The third column signifies the importance of your particular essential in performing your research.
Here are seven top tips to follow whilst drafting a compelling budget for grant proposal: Focus on Uniqueness of Study Essentials. Study design, testing procedures, sample collection methods, and research settings are the essential factors that need to be focused on to resolve the research problem.
Abstract. Novice investigators may be intimidated by the task of proposal budget preparation. Often a basic understanding of the mechanics of budgeting, paired with a good working relationship with the institution's sponsored programs office, can alleviate much of the stress investigators encounter in developing budgets.
Proposal Budgets. The budget should list all cost details for the year or another appropriate period of time. It should include any applicable salaries & wages, fringe benefits, services, supplies, equipment, publications, travel, other direct expenses, and any facility and administrative costs. A brief outline for developing a budget is ...
Template 6 - Determine Budget for Psychology Research Proposal One-Pager Sample Example Document. This presentation template is an easy-to-use tool for determining the budget required for psychology research. With this slide, you can allocate a budget for each area, including diagnostic assessment, training, technology and tools, supplies ...
Preparing your Research Budget The exact format of a research project will vary depending on the funding agency and the program. A good first step is to always prepare a research budget in software such as Microsoft Excel. This will allow you to easily change/m odify your budget or adapt it to the format required by the funding program.
OVPR Research Data Stewardship page - NIH DMSP resources; U-M Library - Research Guides - Research Data Management; U-M Navigate Webinar - NIH Data Management & Sharing Policy (Nov 1, 2022) Budget Format. Sponsors often prescribe the budget format that must accompany the proposal, including the specific cost categories that should be identified.
Creating a Budget. In general, while your research proposal outlines the academic significance of your study, the budget and budget narrative show that you have an understanding of what it will cost for you to be able to perform this research. Your proposed budget should identify all the expenses that are necessary and reasonable for the ...
Medical Research Budget Template. researchamerica.org. Download. A research proposal budget sample is in many ways similar to the research budget sample, only that at this stage, it is still a proposal. This sample is often written in a linear or tabular format and it details all the expenses that are associated with the proposal project.
A budget proposal summarizes project costs in order to secure funding from stakeholders. Learn how to create a budget proposal and get a free template. ... Displays cost efficiency: A budget proposal is a chance for you to do research and choose materials, vendors, or other services that may fit your product and target market. By breaking down ...
A research proposal is a paper that proposes a research project, usually in the sciences or academia and generally constitutes a funding request for that study. A budget is one of the key components of a research proposal and serves as a blueprint for spending the funds from the project. An effective budget for the proposal outlines the proposed project in fiscal terms and helps reviewers ...
Understanding the Components of a Research Proposal. A well-structured research proposal typically includes several key components. Each section serves a specific purpose and contributes to the overall coherence and persuasiveness of the proposal. 1. Title. The title of your research proposal should be concise, descriptive, and indicative of ...
The narrative talks about the change a grant will enable a nonprofit to make, while the budget explains the cost of that change. In successful grant proposals, those stories are tightly intertwined. Grant proposals should exude confidence that change will take place and demonstrate your organization's ability to manage money well.
Research/Study Right-wing media spread misinformation about Harris campaign tax proposal that would impact only the wealthiest Americans. Harris proposed an unrealized capital gains tax provision ...
The budget targets a consolidated fiscal deficit (including social security) of 1.0% of GDP in 2025, down from 1.8% in 2024, compared with Fitch's March projections of 1.1% and 1.9% respectively. The deficit reduction comes primarily from a recovery in revenue, amid strong corporate performance this year due to an improving export environment.