What are some guidelines for preparing a budget for a proposal? (LO 14-4)

proposal Preparing the Budget and Costs Section For a class research project, you may not be asked to prepare a budget. However, many LO 14 business proposals do require budgets, and a good budget is crucial to making the winning bid. In fact, your budget may be the most scrutinized part of your business Ask for everything you need to do a quality job. Asking for too little may backfire, leading the funder to think that you don't understand the scope of the project. Include less obvious costs, such as overhead. Also include costs that will be paid from other sources. Doing so shows that other sources also have confidence in your work. Pay par- ticular attention to costs that may appear to benefit you more than the sponsor such as travel and equipment. Make sure they are fully justified in the proposal. Do some research. Read the RFP to find out what is and isn't fundable. Talk to the program officer and the person who administers the funding process and read success- fol past proposals to find answers to the following questions: What size projects will the organization fund in theory? Does the funder prefer making a few big grants or many smaller grants? * Does the funder expect you to provide in-kind or cost-sharing funds from other sources? Think about exactly what you'll do and who will do it. What will it cost to get that person? What supplies or materials will he or she need? Also think about indirect costs for using office space; retirement and health benefits, as well as salaries; and office sup plies, administration, and infrastructure