Introduction
Consultancy means work of a professional nature, undertaken by staff members in their respective field of expertise, for external clientnts, for which payment is usually made.
Purpose of the Consultancy
- It encourages staff to carry out consultancy service to facilitate knowledge sharing, contributing to economic and social impact. It serves to enhance Industry Institute Interaction.
Purpose of this policy
- This policy is intended to provide a clear framework for those staff engaged in, or who wish to engage in, consultancy through the Institution.
Exclusivity of service and fiduciary duty
The Institution encourages transfer of knowledge through consultancy within the terms of the Institution. Consultancy work can be undertaken by an individual academic, or other member of staff (including technicians), a team of collaborators or students, on behalf of the Institution.
This incorporates the duty owed to the Institution by each staff member to act in its best interests and never to engage in activity which might bring the Institution into disrepute.
Staff members are not permitted to take on work with or for any organisation without prior permission.
The Institution expects all faculty members to comply with this policy and regards any breach as a serious matter which may result in disciplinary action being taken in accordance with the Institution policies and procedures.
Consultancy work can bring financial benefits both to the institution and its employees.
Staff should not, under any circumstances, discuss pricing with a client before discussing the project with the Principal and Research Co-ordinator.
Scope of this policy
This policy applies to all consultancy activity carried out by all Institution staff. The staff should follow the norms set out in this policy for the approval, carrying out and recording of consultancy. All consultancy activity should be declared to the Principal for approval in accordance with this policy.
In making the decision of acceptance of Consultancy, the following factors will be considered:
- Ensuring that core activity is not adversely affected by the Consultancy.
- Individual workloads, and
- The reputational risks and benefits of engaging in the activity.
The Institution reserves the right of veto on any consultancy.
- Ensuring that the co-ordinator of research is informed of all approved consultancy within their area of responsibility, and
- Ensuring all the documents related to the consultancy activity is submitted to the Principal’s office and the Centre of Research.
Use of income from Consultancy
Any income generated from approved consultancy contracts will be first applied to meet the full economic costs incurred by the Institution and Faculty/Department.
On completion of the project any surplus or deficit (after full costs have been charged) will be returned to a faculty/department incentive account.
Amounts paid into faculty/department incentive accounts can be drawn in cash or as a cash alternative for an individual’s personal benefit. However, Faculty Members and Departments are encouraged to recognise the contribution made by members of staff undertaking consultancy in their allocation of resources.
Overheads will be distributed in accordance with the Institution policy as follows.
The revenue generated out of consultancy services will be shared by the staff or group of staff members as follows:
|
Faculty |
Management |
|
60% |
40% |
The staff member has to identify and include the following during the pricing of the Consultancy activity.
Price:
This is the price the client/organization will pay for the consultancy work. To avoid confusion or dispute later, care must be exercised to ensure clarity as to the inclusion or exclusion of items such as travel as well as any special charges for materials or use of facilities in the institution.
Costs:
During the calculation of the cost of consultancy activity, the costs towards faculty expertise and resources including the use of college space and equipment are to be determined.