The Research Assessment Exercise (RAE) has since 1986 reviewed research in all participating institutions, and published results. These have been used to distribute funding council resources for research selectively on the basis of quality. The exercise has taken place every four to five years and the most recent and final one took place at the end of 2008.
The HEFCE, on behalf of the UK higher education funding bodies, has undertaken a consultation process on the successor to the RAE, the Research Excellence Framework (REF). The consultation has shown support 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 REF will be introduced in 2014 and will inform funding from 2015-16.