The initiative follows a staged approach, allowing for analysis, engagement, refinement, and planning before any implementation decisions are made.
Each stage has a defined purpose, set of activities, and expected outputs.
Purpose: Establish the project structure and prepare for analysis
Key activities
- Confirm governance and roles
- Finalize project scope and approach
- Prepare and validate financial and operational data
- Launch Steering Committee
What is decided
- Project structure and process
What is not decided
- Budget allocations or unit impacts
Purpose: Understand the current state and define guiding principles
Key activities
- Interviews with academic and administrative leaders
- Review of current funds flow and budgeting practices
- Peer benchmarking and analysis
- Development of guiding principles
What is decided
- Design principles and priorities
What is not decided
- Allocation formulas or final model structure
Purpose: Develop a transparent, testable baseline model
Key activities
- Build an “actuals model” based on recent year-end data
- Develop a baseline budget model framework
- Produce unit-level views to support discussion
- Test scenarios and design options
What is decided
- Baseline framework options for discussion
What is not decided
- Final implementation approach
Purpose: Share the model structure and timelines with VPs and then on to their reports as appropriate
Key activities
- Briefings with academic and administrative leaders
- Engagement with Vice Presidential areas (as appropriate)
- Documentation of feedback and themes
What is not decided
- Details of implementation planning
Purpose: Prepare for responsible adoption
Key activities
- Implementation roadmap
- Transition planning
- Training and documentation
- Ongoing governance design