How do I set up the budget?

Seek help for the technicalities of the budgets. These are specific for each funding scheme. Research support have spreadsheets for simulating work and costs exactly. However you can do your homework by planning your work and estimate the time it takes to do it. You must also list the costs you will have for consumables and travel ++.

Do this:

Plan the WPs and tasks
Estimate work load per person (person months)
- Planning the work, doing the work, fixing problems, report writing, travel time etc
Make a list of any Other costs; equipment, rentals, depreciation costs, publication, patents
For clinical trials; Cost per trial including personnel and equipment
Travel costs; years, no. of meetings, kinds of meetings, no. of persons travelling

Considerations:

Is it enough time to do the work properly?
Is it a fair share of available resources in the project?
Do we have the resources to do the work?
Do we need to subcontract work?
Do we need to hire new personnel?
What about publication cost and Open Access?
What is the funding rate 100% or 70% or 50%? What then?
Do we need to pay for an audit?

To get an idea of how person months relates to costs: €100 000 equals 8 person months of work in an EC funded project (very average and may vary but if gives you an idea). A travel to any place in Europe costs €700 to €1 100 per person.

Remember:

A budget is a budget
You will later report your real costs
Do not spend too much time on details
- In most projects you get a pot of money and you will have great freedom in how you use the money
- Transfer between cost categories is allowed i.e. you can transfer work money to travel etc. etc.
- It is OUS who gets the money. How we split or use the money internally is not a case for the funding part in most schemes.
Most critical is costs for personnel hired specifically for the project. You must ensure that your budget covers 100% of such costs.
During the project you must adapt the use of resources and costs to what you have got i.e. if you have much money you can go more into detail, do more trials, spend more time on reports and publications, do you have less money you can do less and still fulfil the obligations

Projects that are not 100% funded and projects requiring in kind: Seek help in the budgeting process.

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