Ep.7 - True Value: How to Put a Science Budget Together

EQ.IQ Podcast with Nick and Damien

Your science is unique. Your budget should be, too.

Developing your first long-term research budget can seem like a daunting task. However, if you start from the familiar ground of your own research hypotheses, the numbers—and, more importantly, the rationale behind them—will quickly follow.

00:35 Introduction

The previous episode introduced the idea of negotiation as a collaboration centered around a shared scientific vision. In this episode, your hosts Damien and Nick from Experimental Designs Consulting build on that topic by explaining how to develop a personalized budget that will help you make your vision a reality.

EDC website

02:28 Personalize, prioritize

Like negotiation, budget development should start with the science and finish with the numbers. In this segment your hosts describe their five-step process, using your personal research hypotheses as the starting point to map out and then prioritize all your expenses, from personnel to PCR machines to pipette tips.

15:21 Justified confidence

It’s tempting to take a shortcut by basing your first budget on another lab or company’s operating expenses, but it’s well worth doing the extra work to reverse engineer your own budget from your unique research goals. Nick and Damien explain how following a personalized approach will allow you to go into your budget negotiations fully confident that you can explain the rationale for every single item.

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