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Planning a Research Project

Research funding is financial support from organisations, governments, or institutions to cover costs like salaries, equipment, travel, and dissemination. Sources include government agencies, charities, academic institutions, and private companies.

Why is it important?

  • Funding provides the necessary resources for conducting experiments, collecting data, and purchasing specialised equipment.
  • Allows for employing researchers and staff to dedicate time to the project.
  • Securing funding often enables partnerships with other researchers, institutions, or organisations.
  • With adequate funding, projects can be conducted on a larger scale, with better resources, potentially supporting higher quality outcomes.
  • Receiving funding from reputable sources enhances the visibility and credibility of your research.
  • Funding often supports high-risk, high-reward projects that can lead to significant breakthroughs.

How to secure funding

  1. Identify potential funders
  2. Understand the requirements
  3. Develop a strong proposal
  4. Collaborate with experienced researchers
  5. Demonstrate feasibility and impact
  6. Meet deadlines
  7. Follow up with required reports

Recommended resources:

Research & Grant Proposals Guide

Australian Clinical Trials Alliance. (2024). Securing Funding: Tips and Tricks for Investigator Grants.

If you are an emerging Monash Health researcher planning a translational research project, and have not yet commenced a PhD, you are encouraged to apply for a Monash Health Emerging Researcher Fellowship. 

Monash Health Emerging Researcher Fellowships

Recommended resources:

A grant proposal is a document submitted to an organisation or funding body to request financial support for a research project or initiative. It outlines the purpose of the project, its significance, methods, expected outcomes, and the budget required to complete it.

Why is it important?

  • It provides the necessary financial resources to carry out your research.
  • Convinces funding bodies of the significance of your work and can enhance its impact and visibility.
  • Preparing a proposal forces you to think through your project's goals, methods, and outcomes thoroughly.
  • Successfully obtaining grants can bolster your professional credibility and track record.

Tips for creating a strong grant proposal

  • Read the funding body's requirements carefully and tailor your proposal accordingly.
  • Use clear language to explain your research objectives, significance, and methodology.
  • Emphasise the importance of your research in addressing current health issues or advancing knowledge in the field.
  • Include collaborators with expertise that complements your own to strengthen your proposal.
  • Justify all requested funds with a well-thought-out budget, ensuring all expenses are reasonable and necessary.
  • Show that your project is realistic within the timeframe and resources available.
  • Provide preliminary data or references to underscore the importance and feasibility of your research.
  • Have colleagues or mentors review your draft to identify potential weaknesses or areas for improvement.
  • Keep in mind that reviewers may not be experts in your specific field, so avoid jargon and make your proposal accessible.
  • Allow plenty of time for drafting, revisions, and submission to avoid errors caused by rushing.
Examples
National Institute of Health (USA). Sample grant applications. 

Recommended resources:

University of Sydney Save Sight Institute. (2021). NHMRC grant writing tips.