A budget is the schedule identifying the charges to be assessed to a funding entity for conduct of a clinical research study based on the protocol-defined work to be completed.
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.