If you are making an application or bid for any type of research grant or contract, you will need to calculate the full Economic Cost (fEC) of the resources required to undertake and deliver the project.
fEC is an approach to costing research projects that was introduced in a consistent manner across the entire Higher Education (HE) sector from 2005. Details and background information about fEC can be found in the Summary section of this website.
The process for costing and pricing an application is as follows:
- Work out the cost of the resources required using the Step by Step Guide to Costing
- Establish what the funder is willing to pay - see Pricing Guide
- Check if the application requires approval from Head of College -see Approvals section
- Submit the application. Some useful information is contained in our Applications Guide
We hope you will find the information contained in this website useful. However you should also contact the Accounting Team responsible for your Budget Centre, who will provide any further advice/assistance that you require.
If you have any suggestions as to how the site could be improved, or have any other queries concerning the implementation of fEC, please feel free to contact the fEC Project Team.
What next? Go to Step-by-step Guide to Costing.
The Finance Office