How do I create a research budget?

How do I create a research budget?

Creating a research budget involves outlining your project's costs, including personnel, materials, and overhead. What specific areas do you need help with?

I need help estimating personnel costs.

To estimate personnel costs, consider salaries, benefits, and the number of hours each team member will work on the project. Do you have a team in mind?

Yes, I have a team of three researchers.

Great! Calculate their hourly rates, multiply by the estimated hours they will work, and add any benefits. Would you like assistance with calculating other expenses?

Yes, what about materials and supplies?

For materials and supplies, list all items needed, research their costs, and include a buffer for unexpected expenses. Do you have a list of materials?