Projects and Payments Approval
Policy for Approving Projects
Within the first few months a policy should be developed and approved by the Board that outlines how research and commercialisation projects will be developed and approved.
- What are the timelines for project development and approvals?
- Who is able to develop project proposals?
- What is the approval process for proposed projects?
Process for Approving Project Payments
A process should be approved by the Board that describes the process for approving payment to project delivery partners for project delivery. All payments should be:
- recorded
- made against milestones being met
- have relevant approvals
See example below:
- A contract signed by the partners and the delegated officer of the CRC will be required
- All potential payments to partners must be listed in a project plan that is approved through a process approved by the Board (see above)
- Payments will only be made against an approved Project Plan, and against milestones delivered, to be approved by a relevant officer of the CRC.
- Variations to a contract within the total budget limit of the project will need to be approved and signed by the CFO or Chair. Variations to a contract that results in spending above the budget limit imposed by the Board will require Board approval.
Most CRCs manage their activity through a series of Programs and Projects within those programs. However, CRCs are not simply R&D funding bodies that respond to member proposals. While the bidding document forms the initial strategic document for the CRC, the Board must continue to set and adjust the strategic direction. The top-down approach should be balanced with the bottom-up approach to responding to project proposals. CRCs have a great deal of freedom in organising their activities to achieve the desired outcomes.
Program Management Systems
An enormous amount of time, energy and money has been expended on finding and implementing project management systems for CRCs. Various systems exist, and new CRCs will be offered systems of varying complexity and price. CRCs have been run successfully with simple spreadsheet systems or fully integrated sales-based customer management systems encompassing stakeholder and project management.
Your choice will largely depend on the number of projects you are likely to manage. Some CRCs will have less than a dozen projects at any one time, and others will have upwards of 100. If project management time is provided as an in-kind contribution by a participant and you impose a new and difficult-to-learn system on them, you may struggle for compliance. Ensure the system you choose is fit for purpose and for your member's needs.