The greatest research laboratories in the world are not self-sufficient. For example, the National Aeronautics and Space Administration, we famously know as NASA, get its annual budget from the US government. On a report posted by Planetary.org, NASA’s total budget for the fiscal year 2020 is increased to 5.3% from the previous fiscal year, which now totals to 22.629 billion US dollars. The budget is 0.48% of the overall US government spending. In other words, to attain successful space explorations, funding is needed. With that said, budget proposals must come in first before a research project has to take place. It will ensure enough financial resources to land again on the moon or launch satellites to discover more planets in the solar system. If that interests you, continue reading this article for more information about a research budget proposal.

FREE 10+ Research Budget Proposal Samples & Templates

1. Research Budget Proposal Template

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2. Research Budget Proposal Sheet

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3. Research Budget Proposal Summary

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4. Undergraduate Research Budget Proposal

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5. Standard Research Proposal Budget

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6. Research Budget Proposal Sample

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7. Sample Grant Proposal Budget

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8. Research Budget Template

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9. Research Proposal Budget Worksheet

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10. Sample Research Budget Template

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11. Thesis Research Proposal & Budget

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What Is a Budget Proposal?

A budget proposal is a professionally-written document provided by an organization to layout a financial budget plan for a particular time. It is a budget request projects, campaigns, events, and more. This proposal is significant to the financial accounting department because it will carry on the amount needed to continue the company’s operations. Furthermore, a budget proposal contains relevant details about an organization’s undertakings, expenses, the reason for the spending, and an approval signature. Usually, the expenses come from the need of employees, materials, supplies, travel, workshops, conferences, utilities, etc.

According to Small Business Chron, a budget proposal is a budget plan supported by professional sales research paper, whether in corporate, academic, or non-profit organizations. It helps an enterprise to understand the true scope of a project before it takes place. And pitch an accurate representation of the cost involved. But you have to keep close attention to your proposal to make it a valuable outcome.

Research Budget Proposal: How Is It Important?

How will a research laboratory conduct studies without advanced equipment? Do research laboratories pay a salary to scientists? Why do some research projects fail without a fund? By that, you can easily think of research as a money-driven undertaking. That is true. Without funding, it would not be possible to treat influenza or bottle up ranch sauces. Even mobile phones would not exist if Motorola did not fund its research. You see, every development we experience these days is a result of financial enrichment. Also, a budget proposal is crucial in finding answers to the questions of the ever-curious human brains.

US Research and Development: The Truth

Based on an article published on the National Center for Biotechnology Information (NCBI) website, before World War II, research and development (R&D) in the United States was at its most basic form. Several scientific research laboratories were not associated with the government. In those years, philanthropic support groups often funded the industry in its venture towards scientific and technical findings. However, when WWII happened, military needs such as scientific and technical requirements gave the government a reason to engage with engineering and science institutions to produce weapons in support of fighting the war. The post-war effect made it clear that successful coordination with R&D to aid WWII technical problems could continue to promote the country’s health, economic stability, and national security. The total R&D expenditures shown in another NCBI report reached 220.6 billion US dollars in 1998. It includes spending by industry, government, universities, and colleges—the figure increased to 5.3% from the previous year’s total expenditure.

How to Craft a Working Research Proposal

The challenges of completing a budget proposal are many. You have to consider a lot of things—materials, workforce, and the budget. But most importantly, you have to learn how to write this document. So, we made a list of steps that will guide in making one. Here is how:

1. Identify the Purpose

Set your goals first before making a budget proposal. It will be your guidepost as you complete your budget plan. Ask yourself, “Why is there a need to make a budget proposal?” “What are the expectations after the proposal is made?” and “What will be the benefits of making the budget proposal?” Furthermore, to ensure the clarity in your budget proposal, acknowledge your mission in its first part. Composing the mission is easy. Try to answer the what, when, where, why, and how of your budget plan. With that, you can easily elaborate on the effects of your proposal.

2. Deal with the Costs

The next crucial part of the proposal is the direct cost. Why? It is directly related to the proposal you are making, which means it has a linear impact on your budget. An example of this is the cost of materials and services for the research report. Moreover, the planning process, production, launch, and completion of the project are also part of the budget proposal.

3. Consider Other Costs

Sponsorships and grants will not recognize some other costs, because some funding has expense limitations. And it includes facilities use, utilities, support staff, insurance, and legal and accounting expenses. These expenses should be listed separately in the proposal. Moving forward, since you are proposing a budget for a research project, it means you have a beneficial goal. With that, separate the cost of producing the benefits from day-to-day expenses.

4. Present the Benefits

After noting all the expected expenses, finish the proposal with a detailed description of the expected benefits of completing the sample research report. Estimate the currency value of the benefits and convert it to the number of revenue. Now, you have to remember that the benefits must be greater than the cost. Hence, so not shy away in describing the benefits, or your budget may not be approved.

FAQs

What is a proposal outline?

A proposal outline contains the synopsis of the project. On top of that, the rationale, objectives, experimental approach, and potential significance of the project must be present too.

What are the parts of the budget proposal?

A basic proposal contains the following: abstract, problem statement, methodology, evaluation, dissemination, budget, and continuation funding.

Does a proposal have a conclusion?

A proposal has a conclusion, but it varies in tone and information. The conclusion of the proposal should summarize the benefits of the project it is working on, including the problems, motivation, and proposed solution.

Research is more than just discovering the space above us—it covers all the things our eyes can see, and our bodies can feel. But before that is possible, research projects, scientific or technical, needs strong financial pillars. To achieve that, you need to present a research budget proposal. With a well-written proposal, a research project will be possible.

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