LibraryC2 Performance management2c Ownership, accountability and incentives
LTI-PM-009
Charge a joint finance working group including both chief financial officers
Two-year to four-yearappliesFour-year to two-yearwith adaptationFour-year to four-yearwith adaptation
Mechanism
CFOs and finance staff help design transfer programs, so the fiscal picture is modeled before anyone asks the board for money. Multi-year commitments get approved more easily when finance built the numbers.
Preconditions
A CFO who will attend the planning meetings.
Owner, by role
Office of the President / CFO
Who can act
Both institutions jointly
Effort
Large, 12 months to first visible effect
Outcome metric
Multi-year funding approved for transfer advisors, marketing and resources
Failure modes
Short-term budget pressures can lead to the cancellation of investments before long-term revenue gains are realized.
Contra-indications
None stated
Related practices
- LTI-PM-016 Incorporate financial scenario-planning models into institutional budgeting processes