To enable investment in advancing the objectives, the Faculty created a Strategic Investment Fund of $2M per year. This Fund was made possible through the Program Budgeting and Marginal Analysis (PBMA) exercise.
The following sections describe the process and criteria used to allocate funds. You can download the Strategic Investment Fund proposal form here.
The Fund will be allocated using the following process.
Strategic Investment Fund Allocation Criteria
The Strategic Investment Fund Advisory Group (see below for membership) will use the following criteria to recommend proposal selection and prioritization to the Dean. The Dean will consider the Advisory Group's assessment in light of these criteria to make the final decision.
For an application to be considered, the proposed investment must meet the following minimum requirements:
- Investments must directly support strategic objectives; and
- Investments must be one-time or term-limited, not recurring.
Applications that meet the minimum requirements will then be evaluated based on the following differentiating criteria:
- Degree to which the proposed investment will advance a strategic objective or objectives;
- Degree of definition and measurability (qualitative or quantitative) of expected impact of investments within proposed timeline;
- Clarity, quality, and feasibility of the implementation plan put forward in the proposal;
- Availability of funding in the project timeframe;
Proposals will then be reviewed through the lens of the following additional considerations:
- Degree to which the proposal leverages additional funding sources; and
- Whether another source of funding is available and would be more appropriate.
Based on the expected impact, success measures, timeline, and reporting frequency included in the proposal, if an initiative is not proceeding as planned the Strategic Investment Fund Advisory Group may recommend to the Dean that funding be withdrawn from an initiative.
FoM Positions on SIF Project Changes and Expenses
Position Regarding Requests for Additional Funding Allocation
The SIF amount allocated to a successful proposal is fixed and is based on the proposed budget. Applicants are encouraged to add a budget contingency percentage that is proportional to the degree of project uncertainty with the amounts in the proposed budget.
No additional SIF amount will be allocated to successful projects over and above the original amount allocated. If the intended outcomes of the project cannot be achieved with the amount allocated, the project lead is encouraged to seek additional funding elsewhere. If none can be secured, the project lead may submit a new proposal as part of the next round of SIF allocation. The proposal for additional funding will be evaluated on its merits relative to other proposals submitted in that round.
Position on Changes to Funding Use within the Same Funding Envelope
The SIF allocation must be spent on items proposed in the SIF application or, if different, on items that are reasonably required to complete the project and/or achieve the intended project outcome as proposed. Amounts spent, committed, and planned must be reported through the regular status report. The Dean on the recommendation of the chair of the Strategic Investment Fund Advisory Group may decide if an expenditure is not sufficiently required to complete the project and/or achieve the intended project outcome as proposed and may withdraw funding accordingly.
Position on Expenses Covered by SIF Awards
SIF recipients who use SIF awards to cover expenses are expected to follow the
UBC Expenditure Guidelines. Exceptions are not permitted.
Position on SIF Project Schedule Changes
If a SIF project is delayed, the cause of the delay and the new milestone schedule must be reported in the regular status report. If a project timeline change is deemed too significant or unreasonable by the Dean on the recommendation of the chair of the Strategic Investment Fund Advisory Group, remaining funding may be withdrawn.
Position on SIF Project Scope Changes
If SIF project scope changes, the cause of the change and the new scope completed, underway, and planned must be reported in the regular status report. If the change to scope is deemed to result in a different or substantively diminished project outcome by the Dean on the recommendation of the chair of the Strategic Investment Fund Advisory Group, remaining funding may be withdrawn.
Strategic Investment Fund Advisory Group Terms of Reference
Purpose and Authority
The purpose of the Strategic Investment Fund Advisory Group is to:
- Recommend to the Dean allocation of the Strategic Investment Fund to appropriate proposals according to the Strategic Investment Fund Allocation Criteria.
- Review status of successful applications and recommend to the Dean whether to continue funding based on progress, as needed.
- Ex officio
- Executive Vice Dean (chair) (1)
- Strategic Plan Academic Pillar Leads, or delegate (4)
- Four Department Head/School Director members (4)
- One Regional Associate Dean member (1)
- Two Faculty of Medicine Centre/Institute Director members (2)
- One Senior Departmental Administrator member (1)
- Ex officio
- Senior Director, Finance (1)
- Executive Director, Development and Alumni Engagement (1)
- Manager, Special Projects (1)
The chair may invite others to participate in meetings, as needed.
Ex officio members are members by virtue of their position.
Elected members are elected by their peers through a voting process managed by the Dean's Office.
Ex officio members are members for as long as they hold their position.
Elected members are members for a one-year term and are eligible for renewal.
Chaired by the Executive Vice Dean.
Meeting Schedule and Administration
The Strategic Investment Fund Advisory Group calls for proposals and meets to review proposals and decide which to select two times per year. The duration of each meeting or need for additional meetings will depend on the number of proposals received in that cycle.
The Manager, Special Projects will support the chair by managing the proposal call, review, and selection process, and ensuring that decisions and action items are captured.
Quorum and Decision Making Process
Quorum is 50% of voting members plus one.
Decisions are normally made by consensus. When consensus cannot be found, the group will decide what to recommend to the Dean through a vote, requiring a simple majority of voting members present to vote in favour to pass.
As an Advisory Group, members may request that differing opinions be included with the recommendation to the Dean.
Lines of Accountability and Communication
The Advisory Group receives proposals requesting Strategic Investment Fund allocation from Strategic Plan Pillar and/or Objective Leads or with their endorsement. Others may also submit proposals, but are strongly encouraged to do so in collaboration with Pillar Leads.
The Advisory Group reviews proposals and selects those that best meet the criteria. The Advisory Group then recommends the selected proposals to the Dean for final fund allocation decision.
At meetings, the Advisory Group may also review status reports submitted by successful applicants who are implementing their projects, if a project is deemed at risk by the chair. The Advisory Group may recommend to the Dean whether to continue funding the initiative based on progress, as needed.
The Strategic Investment Fund Advisory Group is responsible for:
- Reviewing proposals according to the criteria in a fair and unbiased manner.
- Deciding which proposals best meet the criteria.
- Recommending selected proposals to the Dean for final decision.
- Reviewing status reports from successful applicants and recommending to the Dean whether to continue funding the initiative based on progress, if requested by the chair.
These terms of reference were approved by the Dean on September 20, 2018.