Short Answer 
A Principal Investigator (PI) is responsible for managing research projects and ensuring compliance with relevant laws and regulations. Typically holding a bachelor’s degree or higher, PIs must effectively oversee project funding, ethics, and adverse event reporting while possessing strong organizational skills.
Step 1: Understand the Role of a Principal Investigator
A Principal Investigator (PI) is responsible for the planning, execution, and management of various funded projects such as research grants, training programs, or public service projects. This individual must ensure that the project is conducted in compliance with applicable laws and regulations. Key responsibilities include determining the causality of serious adverse events and overseeing the project’s overall progress.
Step 2: Educational Requirements and Qualifications
To become a PI, the typical educational background includes at least a bachelor’s degree, often in fields like biology, chemistry, or psychology. A significant portion of PIs, about 21% to 53%, have pursued advanced degrees which further qualifies them for leading complex research efforts. However, it’s important to note that students are not allowed to take on roles as Principal Investigators or Co-Principal Investigators.
Step 3: Compliance and Administration Duties
The PI must ensure that all activities related to the grant or project are conducted ethically and in accordance with institutional and federal guidelines. This includes preparing protocols, managing funding, and ensuring that any adverse events are properly reported and addressed. A strong organizational and managerial skill set is essential for effectively administering the project and achieving its objectives.