Full Economic Costing (fEC)
This guide is aimed at anyone who has responsibility for preparing and submitting applications for research funding to external bodies.
It is intended to highlight the main factors for consideration, in calculating the full economic cost (fEC) of a typical research project. However there may be other specific factors not mentioned (E.g. VAT issues, procurement policies, insurance, valuing intellectual property).
Therefore, in addition to this web guide, the central Research Support Group responsible for your Budget Centre and other Corporate Services colleagues are always available for advice and support. Please use them!
Step 1: Directly Incurred Costs
Step 2: Equipment (RCUK only)
Step 3: Estimating Staff Time
Step 4: Investigator Costs and other Directly Allocated Costs
Step 5: Research Facilities
Step 6: Estates/Indirect Costs
See a Full Example of a Typical Costing - A printable version of this guide to costing and pricing is currently under review and will be available very soon.