Proposal Development
Program Incubator Proposal Development Process
Prospective program proposals will undergo three phases of development and analysis/review:
- Market Analysis
- Curricular Development
- Financial Analysis
Step 4: Form a program development team. The program development team must include at least two members from each department/academic unit involved in the program, an administrator from the Dean's office(s) that are major stakeholders in the program, and the incubator coordinator. The program development team must develop a full proposal for the new program using the standard application for new programs.
Step 5: Develop and submit the full proposal for consideration. During the program development process, the Incubator Coordinator will help coordinate the simultaneous and iterative development of the program. The program development team writes the program proposal in three iterative phases, culminating in a full proposal that is submitted into the program approval pipeline.
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Phase I – Market Analysis
The proposal development team will contact Enrollment Systems, Research & Reporting (ESRR) to complete a market analysis. The team will provide an initial description of the target market with a specific focus on the likely career trajectories of graduates. The market analysis will a) assess the sources and depth of the potential applicant pool; b) provide a description of competitive programs that specifies their overlap with the prospective program’s target market; c) review enrollment performance, cost, and methods of delivery, and d) describe the characteristics of the proposed program that make it distinctive from the competition, a rational alternative for prospective students and of value in the labor market.
The proposal development team, along with a representative from ESRR, will present the prospective program’s market analysis to the Program Incubator Advisory Board and program-associated Deans, Chairs and faculty leaders. ESRR will provide insights into desired curricular content, delivery format, target enrollment audience and initial discussions in marketing. The Program Incubator Advisory Board will assess the market viability of the program and suggest program modifications considering market conditions.
Phase II – Curriculum Development
The proposal development team will articulate the curricular aspects of the program, including:
- The program’s description, including goals, rationale, connection to mission and the strategic plan.
- A description of prospective students, including likely sources of students, jobs graduates might seek, prospective employers, the earning potential of graduates.
- Existing courses and courses to be developed, including enrollment capacity and prospective faculty.
- Potential delivery format(s)
- Potential challenges and innovations/synergies.
This phase may involve bringing together outside experts to evaluate the curriculum for market appropriateness/relevance. The proposal development team will present the curricular components of the program to the Program Incubator Advisory Board and program-associated Deans, Chairs and faculty leaders. The Program Incubator Advisory Board will assess the curricular viability of the program and identify issues for exploration/resolution. The final curriculum will be sent to Enrollment Management to develop a marketing and recruitment plan in conjunction with the faculty champions. The Enrollment Management team will provide a multi-year budget plan for marketing and recruitment.
Phase III – Financial Analysis
Should the proposal development team determine the program is viable based on the market review, a financial analysis will be conducted that includes:
- An estimation of revenue that includes assumptions based on enrollment projections and tuition revenue that appropriately reflects potential discounts.
- An estimation of expenses that includes personnel requirements, significant direct, capital and/or start-up expenses, including marketing.
- An estimation of the incubator loan and repayment plan, based on projected expenses and revenue.
The proposal development team will present the prospective program’s financial analysis to the Program Incubator Advisory Board and program-associated Deans, Chairs and faculty leaders. The Program Incubator Advisory Board will assess the financial viability of the program and suggest program modifications considering financial conditions.
The development of a final draft of the proposal that incorporates components from all three phases of the proposal development process will follow the financial review.
Support
Each phase of development and analysis will focus on foundational aspects of the prospective program. The Program Incubator Advisory Board will conduct a review associated with each analysis, informed by the input of the proposal development team and interested stakeholders (Deans, Chairs, faculty) to confirm the prospective program’s viability and provide input for iterative development. Should any outside consultants be needed to complete this work, the cost will be debited to the program and will be paid back to the investment fund with net operating revenues.
Program Incubator Proposal Development Process
Prospective program proposals will undergo three phases of development and analysis/review:
- Market Analysis
- Curricular Development
- Financial Analysis
Step 4: Form a program development team. The program development team must include at least two members from each department/academic unit involved in the program, an administrator from the Dean's office(s) that are major stakeholders in the program, and the incubator coordinator. The program development team must develop a full proposal for the new program using the standard application for new programs.
Step 5: Develop and submit the full proposal for consideration. During the program development process, the Incubator Coordinator will help coordinate the simultaneous and iterative development of the program. The program development team writes the program proposal in three iterative phases, culminating in a full proposal that is submitted into the program approval pipeline.
(Image)
Phase I – Market Analysis
The proposal development team will contact Enrollment Systems, Research & Reporting (ESRR) to complete a market analysis. The team will provide an initial description of the target market with a specific focus on the likely career trajectories of graduates. The market analysis will a) assess the sources and depth of the potential applicant pool; b) provide a description of competitive programs that specifies their overlap with the prospective program’s target market; c) review enrollment performance, cost, and methods of delivery, and d) describe the characteristics of the proposed program that make it distinctive from the competition, a rational alternative for prospective students and of value in the labor market.
The proposal development team, along with a representative from ESRR, will present the prospective program’s market analysis to the Program Incubator Advisory Board and program-associated Deans, Chairs and faculty leaders. ESRR will provide insights into desired curricular content, delivery format, target enrollment audience and initial discussions in marketing. The Program Incubator Advisory Board will assess the market viability of the program and suggest program modifications considering market conditions.
Phase II – Curriculum Development
The proposal development team will articulate the curricular aspects of the program, including:
- The program’s description, including goals, rationale, connection to mission and the strategic plan.
- A description of prospective students, including likely sources of students, jobs graduates might seek, prospective employers, the earning potential of graduates.
- Existing courses and courses to be developed, including enrollment capacity and prospective faculty.
- Potential delivery format(s)
- Potential challenges and innovations/synergies.
This phase may involve bringing together outside experts to evaluate the curriculum for market appropriateness/relevance. The proposal development team will present the curricular components of the program to the Program Incubator Advisory Board and program-associated Deans, Chairs and faculty leaders. The Program Incubator Advisory Board will assess the curricular viability of the program and identify issues for exploration/resolution. The final curriculum will be sent to Enrollment Management to develop a marketing and recruitment plan in conjunction with the faculty champions. The Enrollment Management team will provide a multi-year budget plan for marketing and recruitment.
Phase III – Financial Analysis
Should the proposal development team determine the program is viable based on the market review, a financial analysis will be conducted that includes:
- An estimation of revenue that includes assumptions based on enrollment projections and tuition revenue that appropriately reflects potential discounts.
- An estimation of expenses that includes personnel requirements, significant direct, capital and/or start-up expenses, including marketing.
- An estimation of the incubator loan and repayment plan, based on projected expenses and revenue.
The proposal development team will present the prospective program’s financial analysis to the Program Incubator Advisory Board and program-associated Deans, Chairs and faculty leaders. The Program Incubator Advisory Board will assess the financial viability of the program and suggest program modifications considering financial conditions.
The development of a final draft of the proposal that incorporates components from all three phases of the proposal development process will follow the financial review.
Support
Each phase of development and analysis will focus on foundational aspects of the prospective program. The Program Incubator Advisory Board will conduct a review associated with each analysis, informed by the input of the proposal development team and interested stakeholders (Deans, Chairs, faculty) to confirm the prospective program’s viability and provide input for iterative development. Should any outside consultants be needed to complete this work, the cost will be debited to the program and will be paid back to the investment fund with net operating revenues.