Developing a Budget
The first budget can be estimated by adding up the costs per year of running the organization, including any indirect costs, and create a monthly cost. Then for the specific study, an estimate of how many months the study will take and what percentage of the team’s time will be attributed to it should be developed. This provides a rough guess but can be used together with the science of the study and the contract to decide if participation in the study is viable. A complete budget then requires developing a line-by-line flow sheet and estimating the cost of each step in the study to obtain a cost per subject. Having a complete budget serves the team well by providing fodder for budget negotiations that inevitably occur.