The expected $15 million available per fiscal year will be allocated to support initiatives related to the University of Iowa 2022-2027 Strategic Plan.
A portion of the funds will be awarded each year through a competitive application process. All faculty and staff are eligible to submit a proposal for a one- to three-year project that directly supports the strategic plan. Proposals will go through a vetting process during which the Strategic Plan Action and Resource Committee (SPARC) will recommend the allocation of funds for strategic initiatives to the provost and president for approval. A slate of approved projects will then be submitted to the P3 Board of Directors for review and endorsement.
Remaining funds may be used to support other strategic plan initiatives, such as education infrastructure, and/or reserved for use throughout the fiscal year to support timely funding needs for implementation of the strategic plan. Members of the Strategic Plan Action and Resource Committee (SPARC) can request P3 funding for initiatives on a rolling basis until all P3 funds for the fiscal year are committed.
For questions regarding the P3 Program in Support of Strategic Priorities, please contact email@example.com.
P3 Program Guiding Principles
- P3 funding is an investment into the University of Iowa's core missions of teaching, research, and scholarship.
- All funds will be used for initiatives that support the UI Strategic Plan.
- $15 million in annual revenue will not be enough to support all the strategic needs of the university.
- A portion of the funds will be awarded each year through a competitive application process open to all of campus.
- P3 funds will be most valuable when used to leverage other support or to grow new sustainable efforts in support of the strategic plan.
- Sustainability of strategic activities beyond P3 support is essential.
- Proposals for multi-year non-recurring funds (up to 3 years) will be considered, balanced with proposals that could benefit from one-time or shorter-term support.
- Remaining funds may be used for campus projects of high strategic importance, such as key infrastructure projects.
- Some funds may be reserved to provide timely support for strategic plan initiatives throughout the fiscal year.
- The allocation process will be evaluated annually for the purpose of process improvement.
Evaluating Campuswide Proposals
Values for Prioritizing Support
Priority will be given to projects that demonstrate the following criteria:
- Institutional-level high impact (i.e., a high return on investment) across more than one strategic priority area (excellence in teaching and learning, innovative research and creative discovery, welcoming and inclusive environment, holistic well-being and success, and/or transformative societal impact). Projects should specifically align with one or more 2022-2027 UI Strategic Plan goals, objectives, and strategies and have the potential to make measurable (or significant) progress toward one or more overarching metric;
- How project activities are outside of scope, or unable to be supported, through the current budget model; project activities should extend beyond core functions or operations related to the central missions of teaching, research, and service;
- The potential for longevity beyond the funding period, whether the project is able to leverage additional funds (i.e., grants, philanthropy, and/or other strategies) or to continue project activities by making them a regular part of institutional operations; and
- Cross-campus collaborations, including interdisciplinary, cross-unit activities that build on existing strengths and/or areas of opportunity for growth and distinction.
Values for the Proposal Process
- The proposal process should be transparent by being inclusive and available campus-wide.
- Proposals should be developed in consultation with collegiate and/or central unit leadership.
- Public reporting should improve transparency both at the time of fund distribution and at renewal for multi-year initiatives.
- Campus-wide communication across/between units during the proposal review process is critical, including the involvement of the UI Center for Advancement and central service units.
- The process must be nimble enough to respond to urgent strategic opportunities.