I need to understand the difference between the "success rate", "award rate" and "funding rate", the metrics used by the National Institute of Health as summary statistics for their research grants.
I have found this article but I still can't understand.
In particular, the article talks about "projects" and "individual application submission" as if they were two different things, like in this passage:
We calculate success rates this way because historically we have been interested in the success of a project or an idea getting funded, rather than of the success of the individual application submission
Another article that I found is this one, which details the mathematical formulas for the three metrics.
The difference between "success rate" and "award rate" is that the former has in the denominator "applications submitted (excluding resubmissions in that fiscal year)" and the latter has in the denominator "applications submitted (including resubmissions in that fiscal year)"
So my questions are:
- What is a "resubmission"? How is it defined?
- What is the difference between "projects" and "individual application submission"?