A specialized tool estimates the expenses associated with conducting research involving human participants. These tools typically incorporate factors such as patient recruitment, site management, data collection, personnel costs, and laboratory analysis fees to generate a comprehensive budget. For example, a researcher planning a study to evaluate a new drug for hypertension would utilize such a tool to project the overall financial resources required.
Precise financial planning is essential for securing funding, managing resources efficiently, and ensuring the long-term viability of a research project. Historically, budget development was a manual and often inaccurate process. The advent of these estimation instruments represents a significant advancement, providing greater accuracy and transparency, thereby improving the likelihood of successful study completion and responsible allocation of financial resources. These resources enable better project management and informed decision-making throughout the research lifecycle.
