Clinical Trials Budget
Sponsor-Investigators have responsibility for managing their trial budget to ensure the trial can be completed in accordance with the trial protocol and any relevant funding agreements.
There is also a responsibility to the trial participants and consumers engaged during trial planning/conduct to ensure the trial funds are used appropriately and that there is documented evidence of the incoming/outgoing expenses.
What is a budget?
An itemised summary of likely income and expenses for a given period or project, that is:
- organised, and an easily understood breakdown of all activities
- typically created using a spreadsheet
- used for ongoing tracking of income/expenditure over time
What are the benefits of keeping a clinical trial budget?
- Determine overall projected income & expenses – work out how to address a predicted shortfall
- Plan your resourcing needs (staff, equipment, external services etc.)
- Allocate resources and funds
- Monitor budget
- Evaluate performance. Did you perform as planned?
See Identify Trial Expenses, Staffing Costs, Create Your Budget, and Manage Your Budget for further information about trial budget activities.
Independent Hospitals Pricing Authority: Determination of standard costs associated with conducting clinical trials in Australia – Standard list of clinical trial items
Medicare Benefits Scheme (MBS) Online Medical Costs Finder
NHMRC Funding Agreement and Direct Research Cost Guidelines
TGA fee schedule for CTNs
VCCC Consumer Engagement toolkit - consumer remuneration