Last year, RKEO revised and re-published the BU guide to full Economic Costing, know as fEC (which some people choose to pronounce in a ‘Father Jack’ style). The full guide can be found on the BU intranet.
If you are applying for external funding for your research and knowledge exchange activities then you need to read the guide and understand what makes up the costs of a project. The guide fully explains what fEC is, how it’s calculated, the difference between cost and price, estimating staff time, and explanation of the terminology, i.e. what is directly incurred, directly allocated, estates, indirect costs, and exceptional items.
For more information and assistance with costing your external research or knowledge exchange application, please contact your RKEO Funding Development Officer.