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Setting Up Proposed Project (or Program) Budgets for Academic Grant Applications
Abstract
Virtually every discretionary (merit-based and competitive) grant application requires a budget, a listing of necessary moneys to achieve the designed work or work plan. Grant budgets have culminating aspects in the sense that they touch every relevant part of a grant application. To actualize anything costs money. Grant application budgets are also part of the “value proposition” inherent in a grant application. They are part of the competitive advantage of an elegant and viable grant, based on strategic budget design. Often, the grant funding agency's directions and examples determine the parameters of a grant budget. In some cases, the budget is determined by formula or equation. In other cases, they are determine by real-world costs, directly. The min-max (floor-ceiling) sizes of the grant funding also determines both project scope and budget scope. So, too, the grant types—such as planning vs. implementation grants, and others. This chapter takes an up-to-date and applied approach to designing project- and program- budgets for academic grant applications.
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