Guidelines for Preparing Budgets for Projects Financially Supported by a Third Party
The Principal Investigator (the person in charge of the project) and the Sponsor should discuss and agree on a clinical protocol, research plan, or other type of plan. A budget corresponding to the plan will be proposed and negotiated by the Principal Investigator or by his/her office with the Sponsor. Then the Principal Investigator will contact the Office of Industrial Affairs, presenting the project and providing the contact information of the Sponsor, the research plan, and the budget.
The budget contains direct and indirect costs that will be incurred while performing the study.
Direct costs include:
- The time and effort of personnel assigned to the project with the corresponding cost, including fringe benefits (the rate of fringe benefits may differ from year to year, and varies according to salary grade). For longer projects the budget will also provide for yearly increases in salary.
- Cost of laboratory supplies, procedures, animals, and maintenance of animals, etc.
- Cost of external services.
Indirect costs are then added to the above direct costs. The indirect costs rate may vary from year to year. Such indirect costs shall be applied to all direct costs except capital expenditures. The detailed budget including indirect costs should be presented to the Sponsor.
It is important to agree on a schedule of payments for such a budget, spreading them from the signature of the agreement to the provision of the final report to the Sponsor when the study is complete.
