While they sound interchangeable, ‘costing’ refers to the process of calculating the true cost of a project. ‘Pricing’ is the process of identifying the amount a funder will pay, in line with their list of eligible costs and any strategic decisions made based on feasibility or competitiveness. As such, the ‘cost’ and the ‘price’ of a research proposal may differ substantially.

Costing

All research and related projects should be costed using the Full Economic Costing (FEC) methodology (as defined in the TRAC guidance). This is a requirement of UK Government. FEC refers to the actual total cost to the University of carrying out the project/activity, regardless of the funder/customer involved and including sufficient investment in the organization’s infrastructure. More details on TRAC can be found on the University’s TRAC web pages. The costing of individual research and knowledge exchange projects is undertaken using Worktribe, which can be accessed by the majority of academic staff with support from their Research Development Manager.

Pricing

The pricing of a project or activity depends on number of factors, including the nature of the market (regulated or unregulated), the value to the customer, the uniqueness of the offering, and the cost and benefits to the University. Price is the amount the funder will pay the University.

All project costings (research / consultancy / KTPs etc.) are done by Research & Innovation Services using our Research Management System Worktribe.

If you need project costings, please contact Research and Innovation Services (RIS) as early as possible for assistance. We will support the costing and pricing of your project and ensure it is ready for approvals within the Faculty so you can submit your proposal to the funder.

The salary scales are kept up to date by the Human Resources Division. They provide the base salary cost, not the gross employment cost, and the advice of the Research & Innovation Services Division should always be sought when preparing precise costings. RIS will take into account:

• inflation (where relevant with dates of pay awards)
• incremental dates
• employer costs such as superannuation and National Insurance

Because incremental dates and pay award dates do not often coincide with the start of the project year, it can be complicated to prepare costings. The RIS have had a lot of practice at doing this!

For information and assistance regarding Salary Costs on all new grants, please contact the relevant member of the Research Development Team.

For information and assistance regarding Salary Costs on all existing grants, please contact the relevant member of the Research Finance Team.

STEP 1: For projects and studies that require use of BSMS CISC facilities (scanning services), a Pro-Forma document [DOC 79.50KB] [PDF 88.49KB] setting out your requirements, must be sent to CISC. They will then provide you with the correct costs / charges to include in your project budget.

STEP 2: If your project is funded, you will then need to contact CISC and complete their Project Proposal Form. More information about permissions and booking your scanning slots is available on the CISC facilities website.