Pricing applications

Before a research proposal is submitted to a funder, or agreement is reached with a commercial sponsor, you must first calculate the cost of the proposed research, determine an appropriate price, and gain institutional authorisation for that price. This section will guide you through that process.

1. Calculate the Full Economic Cost (fEC) of the research – calculating the fEC will give you the true cost of all the resources needed to complete the research.
2. Determine a price – cost and price are not the same thing. The cost is a fact, whereas the price is the amount eventually paid by the funder. Different funders have different rules which dictate the price they are able or willing to pay, whereas the cost will always remain the same, regardless of the funder.
3. Gain University approval for the price – all prices must approved by both the Head of Department and R&IS before the application is submitted. This is achieved via URMS.

The Pricing Team offers support and advice on the costing and pricing of research proposals, and in the use of URMS and EU costing tools.

Last updated: 13 April 2012