C: Project appraisal and authorisation

This section includes the following:

C1: Appraisal and authorisation - the University’s Strategic Plan will be the key feed on criteria for appraisal. 

C2: Authorisation limits and process - the process required to obtain authorisation for a major project under these procedures is dependent upon the level of risk the University is taking.

C3: PP and RFA forms - Project Proposal and Request For Authority forms must be submitted to the appropriate management approver. 

C4: Revised RFA - what to do when further authorisation is required.

C5: Post project appraisal and evaluation - a post project appraisal determines the extent to which a project met the budget, timetable and key deliverables and needs to be carried out on all projects.

C6: Projects over £3million - all projects greater than £3million should follow the guidance set out by the Association of University Directors of Estates.

C7: Role of the committees - in addition to specific signatories, minute references and dates are required from various meetings.

C8: Procurement - all projects must comply with the University’s procurement procedures.

C9: Strategic Goals - all projects must be consistent with both the University’s and the school’s/service’s strategic objectives.

C10: Self-funded schemes - a self-funded scheme is one where the total funding for the scheme is acquired from external sources specifically for that scheme.

C11: Indicators of success - the University has limited resources with which to undertake projects. As such, a mechanism is required in order to evaluate projects.

C12: Costs and income - implementation costs and income are those associated with the implementation stage of the project and are identifiable by the fact that they are directly related to the delivery stage of the project, temporary and not recurring in nature.

C13: Operational costs and income - all projected cash flows arising as a result of the investment appraisal modelling options being considered and evaluated need to be included.

C14: Inflation - implementation costs and income may occur over several years, and operational costs and income may very well be recurring in nature.

C15: Discount rates/rates of return - discount rates are used on the Option Appraisal form and are used to determine the net present value of a project (NPV).

C16: Reviewing alternatives - when considering how to achieve the objectives of a project several options may be identified. Of these, some will be disregarded, the remainder should be the subject of an appraisal.

C17: Appraisal narrative- the objective of the appraisal narrative is to allow ICG, ISG, VCEG, SPRC and Council to approve the recommendations made in the appraisal and supporting documentation.

C18: Risk mitigation and avoidance - all projects carry with them risk, where risk is in reality referring to uncertainty. The important risks to a project need to be identified and discussed.

C19: Project team competencies - it is important for the appraisal to consider the competencies required by a project team to carry out a project proficiently and with an acceptable level of risk.