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 me
• have relevant approvals 

 See example below:

1.      A contract signed by the partners and the delegated officer of the CRC will be required

2.      All potential payments to partners must be listed in a project plan that is approved through a process approved by the Board (see above) 

3.      Payments will only be made against an approved Project Plan, and against milestones delivered, to be approved by a relevant officer of the CRC.

4.      Variations to a contract within the total budget limit of the project will need to be approved and signed by the CFO or Chair.

5.      Variations to a contract that result in spending above the budget limit imposed by the Board will require Board approval.