Suppose I submit a grant application with other investigators. The application form has one "PI" and some more "co-PI"-s.
Is it important who of us is the "PI" and who is the "co-PI"? E.g., is being a "PI" like being a first author on a paper, which (in some disciplines) is considered more highly than being a second author?
Is there a common way to decide who gets to be the PI and who the co-PI, e.g., by alphabetic order of surnames (like the author order in some disciplines)?