Step 2: Identify the Total Cost of the Project
Developing the budget is an excellent test of how clearly and completely the project has been described. The PI should be able to work through the narrative of the proposal and identify the costs to be included in the budget.
Basic Cost Categories
- Personnel (Salaries and Fringe Benefits)
- Consultant Costs
- Equipment
- Supplies and Materials
- Travel
- Other Expenses/Costs
- Facilities and Administrative Costs (F&A)
Direct Costs vs. F&A Costs
- Direct costs are those which can be readily identified with the project (i.e. PI salary, materials & supplies).
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- F&A costs cannot be specifically associated with one particular project (i.e. electricity, access to the library, your departmental secretary) Also known as:
- facilities & administrative costs
- indirect costs
- overhead
- F&A costs cannot be specifically associated with one particular project (i.e. electricity, access to the library, your departmental secretary) Also known as:
