1. Research Funding and Assessment: The Future Professor David Eastwood Vice-Chancellor and Principal

2. Research Assessment: A History of Success 1986, 1989, 1992, 1996, 2001, 2008 Focus Impact Selectivity Investment Secured Funding

3. QR : The Prize QR has delivered (but weve not told the story) QR gives us the means to compete (its what you have if you dont have endowments) It underpins the autonomy of research-led universities It empowers academics working in appropriately- managed research environments If we lost it, we would never recover it

4. Changing Landscapes: Trends in HEFCE QR and RCUK Funding to HEI for Research Source: HEFCE; HESA

5. For too long, its been the only performance management tool in the sector Its blamed for things its not responsible for Its over-engineered (but whose fault is that?) It happens too often or too infrequently We ask it to do things its not well adapted for In 2008 there was uniquely no new money Whats wrong with the RAE?

6. Block funding under HEIF rounds 1, 2 and 3 and KTCF have been distributed equally across their allocation period as no year on year profile is available Source: HEFCE A Mixed Economy of Funding: HEFCE Business and Community Funding by Stream 2000/01 – 2010/11

7. Block funding under HEIF rounds 1, 2 and 3 and KTCF have been distributed equally across their allocation period as no year on year profile is available Source: HEFCE HEIF

8. Indicators from the HE-BCI Survey (all UK)

9. Resources currently available to TSB For the Comprehensive Spending review period to March 2011, TSB has been allocated: –£711.4 million of Technology Strategy Board funding; –aligned with £120 million from the Research Councils; –and £180 million from the Regional Development Agencies/Devolved Administrations; –this gives a total set of aligned spending of £1,011.4 million to be spent between 2008/09 and 2010/11. TSB budget (excluding RDA and RC contributions) will rise from £197 million in 2007/08 to £267 million by 2010/11

10. Some Known Unknowns What will QR be in 2014? What will the balance of dual support be? What will happen to research volumes? Will policy parameters change (STEM vs non STEM)? Will cuts have rebalanced RAE 2008 funding outcomes? If funding and policy parameters have shifted substantially, how long can RAE 2008 outcomes remain a credible driver? Remember the 5** fix – gerrymandering today, some jam tomorrow, and destabilization the day after

11. Realism about REF Peer review matters Metrics help Grant capture tells you something important Government, as investor, has a legitimate interest in its return Impact can be evaluated QR is distributed to institutions RAE is cheap, REF can be cheaper Fewer panels More normalization Get on with it!