The institute recognizes
the significance of being a pioneer in generating new ideas and fostering
innovation in technology and science. As part of its broader objective to
cultivate an environment conducive to the growth of new ideas, research, and
scholarly pursuits, the university has taken a proactive stance in promoting
consultancy assignments for its academic staff. This initiative extends to
collaborations with both public and private organizations, nationally and
internationally. We firmly believe that such engagements will enhance the
professional development and reputation of our faculty members, as well as that
of the University. Furthermore, these endeavors hold the potential to foster
innovations and safeguard intellectual property rights (IP) in the long run.
CONSULTANCY RULES, SCOPE AND NORMS
SCOPE:
Consultancy Services may
be provided to various sectors including industries, service sector, government
departments, and national and international agencies, leveraging the
University's specialized expertise.
·
The
services offered shall align with the standards of "Professional
Services" and adhere to the corresponding obligations and ethical
requirements stated in the standard terms and conditions.
·
The
consultancy services offered encompass a wide range of activities, such as
conducting feasibility studies, technology assessments, evaluating design and
manufacturing processes, performing audits on materials, energy, environment,
and manpower, product design, process development, software development,
troubleshooting, retrofitting exercises, intensive skill transfer to specific
organizations, and developing vision and strategy statements, among others.
·
Standardization,
calibration testing, and evaluation services may be provided, utilizing
existing facilities or enhancing them as required. These services should be
supported by regular calibration and standardization of laboratory equipment
used for such purposes.
· All consultancy and related projects must be structured and executed with the aim of promoting the institute. These initiatives serve as a means to enhance industry interaction, strengthen the excellence of teaching and research, facilitate the successful placement of institute graduates (Ph.Ds./M.Pharm/B.Pharm), and generate funds in the process.
Here are some rules and
norms that can be considered while fixing the budget for consultancy-based
projects:
- Scope
of Work: The budget should be determined based on the scope of work
involved in the consultancy project. This includes the complexity of the
tasks, the level of expertise required, and the expected deliverables.
- Time
and Effort: Consider the amount of time and effort that will be dedicated
to the consultancy project. This includes the number of faculty members,
research scholars, and other resources involved, as well as the duration
of the project.
- Expertise
and Experience: Take into account the expertise and experience of the
faculty members and researchers who will be working on the project. Higher
levels of expertise and experience may warrant higher budgets.
- Research
Facilities: Assess the utilization of research facilities and
infrastructure at the institute. If the project requires extensive use of
specialized equipment or resources, it may impact the budget.
- Industry
Standards: Consider the prevailing market rates and industry standards for
similar consultancy services. This can help ensure that the budget is
reasonable and competitive.
- Cost
of Materials and Services: If the consultancy project involves the use of
specific materials, equipment, or services, factor in their costs. This
may include costs for purchasing or renting equipment, specialized
chemicals, or other necessary resources.
- Travel
and Miscellaneous Expenses: If the project involves travel, accommodation,
or other miscellaneous expenses, allocate a portion of the budget to cover
these costs.
- Overheads
and Administrative Costs: Include a provision for overheads and
administrative costs associated with the consultancy activities. This may
include administrative staff support, project management, and other
indirect expenses.
- Profit
Margin: Depending on the institute's policies and objectives, a profit
margin may be included in the budget. This allows for sustainable funding
of future research and consultancy activities.
- Negotiation
and Agreement: The budget should be determined through mutual agreement
between the institute and the client organization. Negotiation may be
required to reach a fair and satisfactory budget that meets the
expectations of both parties.
- It
is essential to ensure that there are no conflicts of interest between the
involved organizations and any third parties.
- Each
department must submit biannual reports outlining the status of completed
and ongoing consultancy projects, as well as the generated
amounts/materials, and any other relevant information. These reports
facilitate transparency and accountability in the consultancy activities
of the institute.
·
Budget for Consulting Projects
Consulting fee to be paid to PI / Co - PI - A Instrument expenses - B
Chemicals and any contingent expenses -C Manpower
(students, external experts) -D Total other
expenses E= A+ B+C+D
Overheads (50% of Total consulting fee) F =
0.5*E GST as per the government norms =
G
Total consulting charges H = E + F + G
It is important to review
and update the budget periodically based on the progress of the project and any
changes in requirements or circumstances.