Technical testing, analysis and consultancy services

Description

The OfS is looking to select a provider capable of delivering support services to the OfS and other UK higher education funding and regulatory bodies; the Regulators and Funders Financial Sustainability Group; the TRAC Development Group and UK higher education sector stakeholders, including providing a central support function for the Transparent Approach to Costing (TRAC). Provision of support services to the OfS, and other UK HE funding and regulatory bodies on academic and financial sustainability of the UK higher education sector, activities or academic subjects/disciplines including undertaking costing studies and reviews to inform higher education and research policy, funding and decision-making. Provision of a central support function for TRAC (Transparent Approach to Costing) including supporting the TRAC Development Group and supporting HE institutions in complying with the TRAC requirements, supporting institutions and other users/ stakeholders in using the TRAC data and maintaining and updating the TRAC guidance. TRAC is an activity-based costing system developed for the UK higher education sector, and implemented in all UK publicly funded higher education institutions. The primary aim of introducing TRAC was for all higher education institutions to have embedded and methodologically consistent costing and pricing processes integrated with their financial and academic decision-making, which, by forming part of financial strategy and management processes, help to ensure their activities are financially sustainable in the long term whilst also meeting accountability requirements of public funders, specifically UK higher education funding bodies and UK Research and Innovation. Complementary aims include institutions being able: (a) to determine the full economic cost of all their activities at a level appropriate to their decision-making; and (b) to set prices for their activities using either market-based pricing (taking account of markets, customers, competition and risks) or cost-based pricing, as appropriate.