15. How Do I Put Together a Budget?
The development of an accurate study budget is a critical part of the study planning process for both investigator-initiated and industry sponsored trials. A well put together budget is one that accurately captures the cost of conducting the study. Beyond procedural costs, an investigator must take into consideration the time and effort demands associated with subject recruitment, study visit conduct, data management, miscellaneous communications, and regulatory oversight.
Effective budget development and negotiation (as will likely be necessary with industry sponsored trials) requires a unique set of skills and resource access. Therefore, to better assist investigators in drafting and editing study budgets, they are encouraged to contact MMCRI Project Management at (207)396-8074 or Financial Services at (207) 662-4495. MMCRI and Financial Services will work together with the investigator to ensure the development and negotiation, when necessary, of a sufficient study budget.