Graduate Research School
Costing and Pricing
Costing and Pricing
In preparing a research funding application you will need to provide detail information about the resources you will need and the cost of these resourcesFull Economic Costing (fEC) is the standard cost model that has been in use across the HE sector since 2005 and for the majority of research grant applications, you will need to provide a costing according to the fEC system. You will be supported in doing this by Finance. You will find a guide to fEC here.
You will also need to establish what funding is available (i.e. the 'Price') and how this compares to the cost. It is therefore very important that any pricing discussions with potential funders takes place after you have calculated the cost.
Detailed here is a summary of the pricing approach of the major external funders of research. For most funders, the method for establishing the price is fixed by the funder.