My unit has the financial capacity to cover the entire cost of the capital project. Do we need to follow the Capital Project Guidelines?
If the estimated cost of the project is less than $2 million, your unit does not have to follow the process outlined in the guidelines. However, if the estimated cost is greater than $2 million, your unit is first required to discuss the project with the Provost’s Office. All projects over $5 million must follow the Capital Project Guidelines. For more information on project costs and how they affect the approval and review process, refer to the section “When to Follow These Guidelines” of the Capital Project Guidelines. While having the appropriate funding in place is vital component of preparing a successful proposal, there are a number of other factors that must be considered when approving new building construction or major renovations. The Provost’s Office and Capital Projects Committee take into consideration a number of guiding institutional principles in determining need and priority of all capital project proposals.
Related Questions
- What if a project already underway has changed in scope and/or cost and is now a project that should technically follow the Capital Project Guidelines?
- My unit has the financial capacity to cover the entire cost of the capital project. Do we need to follow the Capital Project Guidelines?
- Does NHS-funded nursing care cover the entire cost of a person’s healthcare needs?
