Changes to capital project approval policy
March 5, 2018
Changes to the Capital Project Approval Policy and Procedures were approved at the March 2, 2018, meeting of the Board of Trustees.
Updates to the policy and procedures include an increase in the threshold for which Board of Trustees approval is required from $2.5 million to $5 million. Capital Projects with a budget between $2.5 million to $5 million will now be approved by the Vice-Principal’s Operations Committee, thus expediting the approval process. Other updates to the policy and procedures include earlier engagement with senior university leadership for major capital projects, as well as simplified processes and templates. Changes were informed through consultation with a number of internal stakeholder groups and external experts.
The revised policy improves the governance of major capital projects with early engagement of both internal and external governance bodies,” says Donna Janiec, Vice-Principal (Finance & Administration). “The updated procedures also streamline the approval process and promote robust reporting practices for approved projects.”
For more information about the updates to the policy and procedures, check out the University Secretariat website or contact John Witjes, Associate Vice-Principal (Facilities).