Strategic Portfolio and Resources Committee

Terms of Reference

Purpose 

The purpose of the Strategic Portfolio and Resources Committee (SPaRC) is to govern and manage the overall delivery of the Loughborough University Strategy, and the associated Core Plans and Enabling Projects, working within the delegated powers set by Council. The Board has three responsibilities in this respect:

  1. Oversight of a portfolio of strategic projects & activities arising from the Core Plans and other groups (SPaRC Part A)
  2. Budget setting and strategic resource allocation (SPaRC Part B)
  3. Oversight of an integrated planning cycle (SPaRC Part B)

Accountable to

  • University Executive Board (SPaRC Part A)
  • Senate and Council (SPaRC Part B)

SPaRC Part A: Oversight of a portfolio of strategic projects and activities 

  1. Prioritisation and approval of the portfolio of strategic projects and activities to be delivered in line with the strategy (to include direct oversight of relevant strategic projects not governed directly by Core Plan Boards), reviewed on an annual basis in line with planning and budgetary processes.
  2. Assessing the internal/external environment for factors that may impact on the priorities within the portfolio, managing the associated change control processes where they are needed, and responding to emerging opportunities in a decisive and agile way.
  3. Holding the Core Plan Boards to account for the development of annual prioritised implementation plans that can be considered in their totality by SPaRC.
  4. Managing the Gateway Approval process, including starting the right projects at the right time, i.e. when the organisation is ready, ensuring appropriate resourcing before start-up and making sure that projects do not close until the benefits are realised/transitioned to Business as Usual (BAU).
  5. Resolving dependencies, issues and mitigating risks escalated by the Core Plan Boards/Enabling Projects, or identified by the Strategic Portfolio & Resources Committee, that have the potential to impact on the delivery of the strategy.
  6. Overseeing the tracking and realisation of KPIs and benefits at a strategic level, made up of the contributions from each Core Plan Board and Enabling Project, reported to University Executive Board (UEB), Senate and Council.

SPaRC Part B: Budget setting and strategic resource allocation

  1. Approve the relevant stages of major capital projects (as prioritised by UEB), within guidelines approved by Council and establish appropriate management and independent review arrangements for major projects.
  2. To advise Senate on the future academic developments (programme portfolio and academic structures) of the University, having regard to the financial and physical implications of such developments.
  3. To delegate the in-year adjustment and allocation of budgets to SPaRC Sub-Committee.
  4. To recommend annual student intake (and therefore student population) targets to UEB, having taken into account all relevant factors and advice from Student Admissions and Global Engagement, including the budget parameters set by the Finance Committee.
  5. To be responsible for reviewing the International Student Dependency strategic risk as delegated by Audit and Risk Committee in the context of the wider Strategic Risk Register.
  6. To agree and monitor five-year planning targets for schools, aligned to the delivery of the University agreed KPIs, and to allocate strategic investment funds to facilitate the achievement of the five-year plans.
  7. To review and recommend for approval the annual plans and budgets, within budget parameters agreed by the University’s Finance Committee.