Virtual Exhibits Investment Program – Program Guidelines : Annex B

Guidelines for Calculating Costs/Values

Translation

Depending on the translator, fees may be established on an hourly or per-word basis. For the verification of a translation, an hourly rate would be more normal. It should be noted that the speed and accuracy of translation is directly affected by the quality of writing in the original language. It may therefore be cost-effective to have the original version reviewed by an editor prior to translation. Similarly, a bad translation will require more time and effort in a verification phase. All estimates, therefore, should be treated as approximations.

Hourly rates: approximately $75.00 (estimated number of words per hour for translation: 210; estimated number of words per hour for verification: 500).

Per word: approximately thirty cents ($0.30). (Please note that translation will be required for all text including the text incorporated into the interface, alt tags, audio and video transcripts, etc.)

When calculating the translation cost keep in mind that with on-line content there are additional elements to translate, such as navigational text, alt tags and audio and video transcripts.

Intellectual Property Credit

As part of investment in a production, institutions may claim credit for the value of the intellectual property, which they are making freely available to the public. The following formulas for calculating amounts for which credit can be claimed are based on average commercial transactions.

Please note that these formulas are not intended as guidelines for institutional negotiations with third parties to acquire rights from others.

In such cases, rates negotiated with collective societies or individual rights holders should prevail.

For images, the formula is based on the average licensing fee paid by multimedia developers for the use of an image in a multimedia product with worldwide distribution. For textual information, the formula is based on an average fee paid to independent writers plus the CanCopy fee for transmission/reproduction rights for the Internet. Formulas for audio and video clips are loosely based on average commercial licensing fees, acknowledging that rates for Internet use vary widely.

Images:	$150 x estimated number of images to be included in the product
Textual material:	$375.10 per 500 words estimated for product
Audio clips:	$8.30 per minute
Video clips:	$30 per second

Marketing Credit

Although the VMC does not invest in costs related to marketing, member museums may receive recognition for the value of their efforts to promote their VMC content or the VMC in the form of a marketing credit.  This credit should be included in the proposal budget as part of the investment contributions (in-kind and/or financial) from the lead institution and any partners or participants.

In order to receive recognition for this contribution to the project, details about planned communication activities must be included in the proposal. Eligible activities must mention the VMC, as well as the specific content, where appropriate. The VMC logo must occupy 25% of the total space on promotional materials.

The following marketing activities related to the proposed product are eligible for a marketing credit:

• Launch activities (ceremony, reception, etc.);
• Press releases, newsletters;
• Media publicity campaign;
• Creation of posters, brochures, flyers, bookmarks or publications (including any mailing costs);
• Development of promotional items;
• Presentation concerning VMC content to schools, meetings of museum members, visitors or other groups.

Other marketing efforts may also be credited.