Aberystwyth U To Monitor Research Project Costs with Allocate
- By Dian Schaffhauser
Aberystwyth University in Wales has selected Project Financial, Accounting and Costing Tool (pFACT) from Allocate Software to manage its research projects. The application will allow the university to calculate the full economic cost of each project. This process is being implemented in a number of universities following a move by the UK government to both increase its spending in higher ed research and track the viability of its investments.
"We selected Allocate Software for its expertise and track record in project costing tools for the education sector," said Tegid Edwards, deputy director of finance at Aberystwyth. "We were impressed by the costing functionality available with the pFACT solution and look forward to integrating it with our existing systems."
The 7,000-student university is the 39th institution to implement pFACT according to the vendor. In a statement, the university said it chose pFACT instead of other programs for its low cost, ease of use, and single database.
Dian Schaffhauser is a senior contributing editor for 1105 Media's education publications THE Journal and Campus Technology. She can be reached at firstname.lastname@example.org or on Twitter @schaffhauser.