Budget Development

Budget development is the process of identifying all the expenses associated with conducting a clinical research project, most commonly a clinical trial. We use budgets to ensure we end up with an appropriately funded research project. 

The first step is budget development. This is the process to identify all expenses associated with conducting a clinical project, such as personnel time, laboratory charges and participant reimbursement.

The next step is budget negotiation. By engaging the sponsor in dialogue, you can develop a final budget that covers the costs of conducting the research project.

It depends on complexity of the study being done and the turn-around time at the sponsor institution. In most instances, six to eight weeks is adequate to complete the budget process. 

You should be aware that there are institutional fees associated with Clinical Research including those levied by our institutional partners.  These need to be included within your budget. The CRO has established research rates for various procedures and care with our partners and we are happy to negotiate research pricing for any budget items needed. Reach out to the CRO for review of fees applicable to your study.