FECP: Full Economic Costing Project
The Irish Universities Association is conducting a project, with Higher Education Authority (HEA) funding from the Strategic Initiative Fund (SIF), to design and implement a Full Economic Cost (FEC) system for the seven universities in Ireland. A Full Economic Cost project will provide detailed cost information on all university activities. Information on costs is required for effective planning and management of university activities, and to satisfy the requirements of their funders. The universities already provide information on the costs of teaching for the HEA unit cost system, and on research overheads for some funders of research. However, this information does not show the full economic cost of these activities to the university.
The system has now been designed and the project is moving into its second phase of implementation planning.
Further information can be found at: http://www.tcd.ie/local/fecp/