The research profiles of institutions vary widely and therefore the strategic issues associated with research have correspondingly different implications for governing bodies. Increasingly, the funding of research is highly selective, and it is difficult for institutions without a substantial track record in research to obtain substantial funding.
In research active institutions, the governing body is likely to have a number of interests:
For many years the Research Assessment Exercise (RAE) was fundamental to most institutional research policies. The 2008 exercise was the last and the RAE has been replaced by the Research Excellence Framework (REF). This provides for the continuation of research assessment through a process of expert review, with the main factor being the quality of research output by institutions. The first assessment phase of the REF will take place in 2014 to inform funding for 2015-16. A pilot exercise to study the feasibility of assessing the impact of research on society has been published, and a new concordat for engaging the public with research has been launched.
The funding councils' Assessment Framework and Guidance on Submissions has been published, and HEFCE has published the final criteria and working methods to be used by the REF panels.
A series of reports has been published on the impact of research council funding.
For more information see Getting to Grips with Research and Knowledge Transfer.