How to cost your consultancy project

Consultancy - How to cost your project and the approval process

All University consultancy projects should be initiated using the MyProjects Proposals costing tool. Completion of the MyProjects Proposal is required by the Faculty Enterprise Teams before any work commences in order to ensure that::

  • Projects are costed on a Full Economic Cost (fEC) basis.
  • All necessary ethics, insurance, and health and safety matters are identified prior to the work being accepted.
  • The correct approvals are in place.

As the Principal Investigator (PI) for a piece of consultancy, you will need to make sure that you include all relevant fEC costs for the staff involved in the work, equipment, consumables, third party fees and any other clearly identifiable costs directly attributable to the project.

Once you have submitted your fEC costings via the MyProjects Proposal tool, the Faculty Enterprise team will then assist you to identify a commercial price to be charged and will lead the negotiations with the client on behalf of the University. 

Once a client has accepted the price, the agreed price for the consultancy work will be added to the MyProjects Proposal for acceptance/authorisation by you as PI as well as from both the Faculty Enterprise Team and Head of School/Institute.

For further information please visit MyProjects Proposals or contact a member of your Enterprise Team.