Full Economic Costing (fEC) In 'Costing' fECDirectly Incurred CostsEquipmentEstimating Staff TimeDirectly Allocated CostsResearch FacilitiesEstatesExample of A Full Economic Costing Back to '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. Text here Colleges College of Arts and Law College of Engineering and Physical Sciences College of Life and Environmental Sciences College of Medical and Dental Sciences College of Social Sciences Professional Services Academic Services Campus Services Development and Alumni Relations Estates Executive Support External Relations Finance Human Resources IT Services Legal Services Research Strategy and Services