It is clear to me after today's lecture that I have no idea what things cost... I now see that a £600,000 grant doesn't stretch very far. I see this as a vast amount of money but by the time you factor in wages, overheads and contingency costs there seems to be little left for anything else. I now have a clearer understanding of why research grants are so hard to obtain and there are so many hoops to jump through, research costs a lot of money and it has to be proven that it will be spent in the right places. Underestimating costs are a huge hazard as shows you have no real concept of what you are going to need to achieve your goals.
It has opened my eyes up to how much things actually cost and the importance of choosing the right conferences to attend and speak at... as it could cost you up to £2,000 for travel, accommodation etc things have to be a good fit or you are simply buying a scratch card with little hope of a decent result.