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Finances

The Joint Research Management Office (JRMO) offers a number of services to establish and manage the finance side of research undertaken the Trust and the university.

Project costing

The JRMO will prepare, with the principal investigator (PI), a detailed project costing which will properly reflect the full cost of the activity to the relevant organisation(s). A formal costing document will be given to the PI.

The JRMO can also advise on the most appropriate charge to levy for the project, setting the price with due regard to the nature of the activity, the funding bodies’ allowable cost rules and the market rate applicable at the time of application.

We can also advise investigators of any precedents that have been set with particular research sponsors.

Contracting

The JRMO will take the lead in negotiating contracts and agreements with external sponsors or research.

We will ensure that the obligations and duties, imposed on the organisations, are made clear to our project investigators, securing the intellectual property rights of the Trust, QMUL and its employees for our mutual future benefit. This includes contract price negotiations and formal contract signature on behalf of the Trust or QMUL.

Project account set-up

Once a contract has been signed, or a grant accepted, the JRMO will begin the process of registering a project to ensure that its details are made known to all departments within the respective organisations that may be involved in the subsequent administration. 

Project administration

The JRMO will take responsibility for the administration of externally funded projects. To this end it will provide the following services to investigators and managers:

  • Income collection (invoicing or grant claims)
  • Accounts administration
  • Provision of regular budgetary statements
  • Co-ordination of, and approval of, research staff appointments, and
  • Contractual and administrative problem solving

Project closure

In the lead up to the closure of a project, the JRMO will place particular emphasis on budgetary control and project outcome monitoring. We will ensure that maximum use is made of the funds available so that project budgets are not under spent. The JRMO also has a duty to the organisation to prevent any overspend.

The JRMO will provide the following closure services:

  • Production of final project accounts
  • Submission of final claims or invoices
  • Distribution of residual account balances
  • Assistance where necessary in the production of final reports
  • Collection of outcome data
  • Closedown of project
  • Archiving of closed files

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