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 cover costs relating to marketing and communication, member museums can increase the level of merit of their proposal based on the scope of marketing and communication efforts planned. These efforts may be focused on their content outreach in the VMC or to the VMC itself. The value of these efforts should be calculated and should appear in the proposal budget under the investment contributions (in kind and/or financial) either of the primary institution or any another partner or participant.

Suggested marketing and communication activities include, but are not limited to, the following:

Online:

• Search Engine Optimization (SEO and PPC);
• Colonization of Social Media;
• Promotion in E-newsletters (with Hyperlinks);
• Advertising Banners on External Sites.

Offline:

• Press Releases and Newsletters;
• Media Advertising Campaigns;
• Launch Activities (ceremonies, receptions, etc.);
• Creation and Targeted Distribution of Promotional Material;
• Presentations on VMC content in schools, at museum members meetings and to
• Visitors or other groups;
• Sponsorships.