Develop 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.

For research activities to be sustainable, both the direct and indirect costs (overhead) must be included in budget requests to external sponsors of research. Please make sure you include administrative and project management costs into your direct costs for the successful management of your funds and deliverables.