The JCPSG published its seventh and final annual report covering activities to the completion of the project in July 2005. The report reflects on the development of costing and pricing as two of the core business processes in HEIs; the development of the Transparent approach to costing (TRAC) and its subsequent development to allow the forecasting of full economic costs at project and activity level; its acceptance by government as the basis for cost-based pricing, and its role in establishing a new ’ruling price‘ to guide HEIs further development into market-based and value-based pricing. Click here to download the report and covering letter from the chair of JCPSG.
The sponsors of JCPSG commissioned an independent review of the second phase
of the JCPSG (August 2002 to July 2005). Further information about the review
is included in the 
HEFCE
circular letter 33/2005 . The
report is available on the HEFCE website.
The UK HE Funding Councils have issued a statement on support arrangements
for HEIs for full economic costing from July 2005 onwards. Further information
is available on the HEFCE web-site at
http://www.hefce.ac.uk/finance/costing/
Costing
and Pricing Medicine and Dentistry at the NHS/HE Interface Professor David
Westbury, Chair of JCPSG (July 2005). This report offers a way forward, some
principles and a framework for further analysis and development. Because of
the diversity of individual arrangements and the different ways in which they
have evolved over many years, it is likely that attempts to produce a single
detailed UK-wide solution will be counter productive, so it is recommended
that further development is conducted at institutional level.
The report should be read in conjunction with the Nuffield Foundation Working
Group Report on NHS/University Relations, "
University
Clinical Partnership: Harnessing Clinical and Academic Resources"
An
Overview to TRAC (June 2005). A briefing document for senior managers
and academics.
Consolidated TRAC Guidance (June 2005). This publication is the definitive TRAC Guidance- it consolidates the technical guidance issued in TRAC Volumes I-III and subsequent updates.
JCPSG:Progress
with the Transparent Approach to Costing (TRAC) and the transition to full
economic costing (fEC) - Letter to heads of HEIs (issued 24 March 2005),
and accompanying documents:
Timetable
for the Operation of Pricing based upon Full Economic Cost methods in Higher
Education Institutions
Assessment of the Regulatory Burden of TRAC (by JM Consulting)
Regulatory Impact Assessment for Dual Support Reform. Report by OST (October
2004).
The Government set out its overall strategy for the Dual Support system in
the
Science and Innovation Investment framework
2004 - 2014, published as part of Spending Review on 12 July 2004.
The OST issued a consultation report
The
Sustainability of University Research: A consultation on reforming parts of
the Dual Support System (May 2003). This coincided with the outcomes of
the 2001 RAE review. The consultation looked at how best to implement an interlinked
set of reforms to the ways in which HEIs should cost and price their research
and Research Councils fund and account for it.
The
future of higher education: DfES White Paper, Cm 5735 (January 2003).
This sets out the Government's long-term strategy for investment and reform
in higher education.
Study
of science research infrastructure: a report by J M Consulting (July 2002).
This reviews the past investment in infrastructure for science research in
UK HEIs and sets out the conditions needed to manage the research infrastructure
on a sustainable basis.
Investing
in Innovation (OST, July 2002)
Developing
a pricing strategy in higher education institutions (July 2002)
Teaching
and learning infrastructure in higher education – report to the HEFCE
by J M Consulting (June 2002).
Cross-Cutting
Review of Science and Research (H M Treasury, March 2002)
Pricing Toolkit for the Higher Education sector (JCPSG, October 2000)
Management
Information for Decision Making: Costing Guidelines for Higher Education Institutions
Joint Funding Councils publication, July 1997
A set of consolidated guidance has superseded
past TRAC volumes issued by the JCPSG; however, it is still possible to download
past TRAC guidance and updates:
Volume
I: Overview and Implementation Pack
Summarises the essential requirements and the processes needed to manage them.
It is intended for use by a wide audience within institutions, including senior
management teams and project teams with responsibility for implementing the
approach.
Volume
II: Reference Manual
A more detailed document primarily of use to project managers and finance
departments who have responsibility for facilitating implementation.
Volume
IIa: Updates and supplementary guidance
Incorporates all the updates and supplementary guidance to Volume II: Reference
Manual provided to the sector over the period 2000-02.
Volume
III: Full economic costs of projects
Sets out a consistent approach to determining the full economic costs of projects,
and to meeting the Government’s policy of sustainability. It sets out
the principles for the cost-based pricing of non-competitive contracts between
HEIs and government departments. It also underpins the costing and pricing
of projects agreed with Research Councils, as the dual support system for
funding research is reformed. The guidance is, however, holistic and can be
employed to cost all projects and activities, including teaching and related
work, on the same full economic cost basis.
April 2004
Updates
to TRAC Volume III
April 2004
Briefing
note on TRAC
April 2004
PowerPoint
presentation
June 2004
Second
set of updates to TRAC Volume III
August 2004
Third
set: Updates to TRAC Volumes II, IIa and III
August 2004
Notes
of meeting held 7 June 2004, British Academy in London: Research Councils/Vice-Chancellors
August 2004
Summary
of issues raised in discussion at JCPSG policy seminars
October 2004
Fourth
set: Updates to TRAC Volume III
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