POLICY: School Governance and Management - Key Performance Indicator (KPI) and Reports Policy POLICY URL: https://lsi-ac.uk/policy/4d89d268-b732-4a47-8732-a98bf09fb869 POLICY STATEMENT: The School is committed to upholding high standards of performance and accountability. Our Key Performance Indicator (KPI) and Reports Policy ensures rigorous monitoring and evaluation of KPIs to align with our strategic goals. This policy mandates comprehensive reporting and analysis across all departments, facilitating informed decision-making and continuous improvement to support the School's success and sustainability. POLICY PRINCIPLES: ------------------ - Transparency : Providing clear, accessible reports on KPIs to stakeholders; - Accountability : Holding ourselves accountable for achieving performance targets; - Accuracy : Ensuring information is collected and reported accurately; - Consistency : Applying uniform methods in measuring and reporting KPIs; - Timeliness : Delivering reports within agreed timeframes to inform decision-making; - Review : Regularly reviewing KPIs to align with strategic objectives; - Continuous Improvement : Using KPIs to drive continuous improvement across all operations; - Objectivity : Ensuring performance assessments are objective and data-driven; - Strategy : Aligning KPIs with the School’s strategic plan and goals; - Communication : Effectively communicating performance metrics and their implications; - Engagement : Involving relevant stakeholders in the development and review of KPIs; - Adaptability : Adapting KPIs in response to changes in the internal and external environment. REGULATORY CONTEXT: ------------------ This Policy has been developed in line with the applicable laws, regulations, regulatory advice, and sector best practices, including the following: R1. Quality Assurance Agency (QAA): Advice - Enabling Student Achievement - R2. Advance HE: Code of Governance for Universities - A code of governance that sets out the principles and standards that universities in the UK should follow. R3. Committee of University Chairs : The Higher Education Code of Governance - A code aimed at ensuring the highest levels of governance at higher education institutions. R4. Office for Students (OfS): Regulatory framework for higher education in England - This framework outlines OfS' primary aim to ensure positive outcomes for students, including access, success, and progress in higher education. It covers quality academic experience, progress into employment, and value for money. R5. Quality Assurance Agency (QAA): The Quality Code - This code represents a shared understanding of quality practice across the UK higher education sector, protecting public and student interests and championing the UK's reputation for quality. METRICS AND KPIS: ------------------ The following metrics will be measured and regularly reviewed as key performance indicators for the School to ensure the effectiveness of this policy and associated operations: M1. Adoption Rate of Innovative Learning Technologies: At least 60% of courses integrating new technologies annually. Adoption of innovative technologies enhances teaching effectiveness, student engagement, and prepares students for a tech-driven workforce, aligning with institutional goals for innovation. M2. Curriculum Review and Update Rate: 100% of academic programs reviewed and updated at least every 6 years. Regularly reviewing and updating the curriculum ensures that courses remain current, pedagogically sound, and aligned with both academic advancements and the institution's strategic priorities, which helps maintain accreditation standards and enhances student outcomes. M3. Graduate Employment Rate within 6 Months: Measure the percentage of graduates employed in their field of study or pursuing further education within six months of graduation. 85% employment or further education rate within six months post-graduation. High graduate employment rates indicate the effectiveness of the institution’s educational offerings and career support services, which is crucial for reputation and student recruitment. M4. Industry Partnership Engagement Index: Establish at least 15 active industry partnerships annually, with a minimum of 10 contributing to curriculum development or student placements. Strong industry partnerships ensure curriculum relevance, provide practical experience for students, and foster research and funding opportunities, aligning with strategic goals for growth and impact. M5. On-Time Graduation Rate: Achieve a graduation rate of 80% or higher within the expected timeframe. A high on-time graduation rate reflects the quality of academic programs, effective student support services, and student satisfaction, which are critical for institutional success. M6. Operating Surplus as a Percentage of Total Revenue: Maintain an operating surplus of at least 5% of total revenue each year. Demonstrates financial health and the ability to invest in future growth, infrastructure, and strategic initiatives without compromising fiscal stability. M7. School Survey Satisfaction Rate: Measure student satisfaction using internally conducted school surveys, focusing on teaching quality, support services, facilities, and overall experience. Achieve an average satisfaction score of 90% or higher in all key areas annually. Regular internal surveys provide direct feedback for continuous improvement, reflecting the effectiveness of policies and services in enhancing the student experience. M8. Student Diversity and Inclusion Index: Track the diversity of the student body by measuring the representation of different demographics (gender, ethnicity, socioeconomic status, disability) across all programs. Achieve a diversity representation index score increase of 10% over three years and ensure retention rates across all demographics are within 5% of each other. A diverse and inclusive student body creates a richer learning environment, meets equity goals, and enhances the institution's reputation for inclusivity and social responsibility. SECTION 1: Evaluating Institutional Outcomes Through Data Analytics and Key Metrics ------------------ 1.1. Monitoring and Assessing Performance through KPIs: The School’s Key Performance Indicator (KPI) and Reports Policy supports six strategic aims from the Vision and Values Statement, including 'State-of-the-Art Curriculum' (Aim 2) and 'Gold-standard for Student Experience' (Aim 5). To track these, the School has set 8 KPIs (please see below), which the Board of Governors reviews at least three times a year. All School bodies support this process through operations and reports. Performance indicators are included in all regulations and policies to assess areas like academic standards and student progression. An annual report publishes these assessments, promoting continuous improvement; Embedding KPIs in regulations and policies ensures clear monitoring of strategic progress. Regular Board reviews foster transparency and accountability, while the annual report provides a clear performance overview, driving the School's continuous improvement. SECTION 2: Strategic Alignment and the Role of Key Performance Indicators ------------------ 2.1. Strategic Aims (by Board of Governors): The School's strategic aims are as follows:; SA1: Pedagogical Excellence : Develop innovative teaching methods, including AI-powered tools, to foster critical thinking and adaptability, preparing future leaders for an AI-enhanced world; SA2: State-of-the-Art Curriculum : Design forward-thinking curricula that reflect the latest industry trends and real-world applications, empowering students to lead and innovate in the digital age; SA3: Impactful Professional Network : Build a community of forward-thinking professionals by hosting industry events, roundtable discussions, and guest lectures, promoting visibility, lifelong learning, and cross-sector collaboration; SA4: Distinctive Brand : Achieve global recognition as a leading institution in digital engineering, innovation management, AI, interdisciplinary studies, and student success; SA5: Gold-Standard for Student Experience : Continuously enhance the student experience and promote a commitment to lifelong learning; SA6: Global Scalability : Create a global platform to develop a diverse community of leaders who will drive transformation in an AI-powered future; These strategic aims provide a clear focus for the School's direction, ensuring excellence in teaching, curriculum development, networking, brand positioning, student experience, and global reach. By setting these aims, the School aligns its goals with current and future educational and industry needs, fostering a strong and adaptable learning environment. 2.2. Key Performance Indicators for Strategic Success (by Board of Governors): The School, particularly the Board of Governors, assesses the success of its strategy using the 10 key performance indicators (KPIs) outlined in its Organisational Structure, Governance, and Declaration of Interests Statement:; Adoption rate of innovative learning technologies; Curriculum review and update rate; Graduate employment rate within 6 months; Industry partnership engagement index; On-time graduation rate; Operating surplus as a percentage of total revenue; School survey satisfaction rate; Student diversity and inclusion index; Related metrics are detailed further in this policy; These KPIs provide clear, measurable benchmarks to evaluate the School's effectiveness in implementing its strategy. They cover critical areas such as innovation, curriculum quality, student outcomes, financial health, stakeholder satisfaction, and diversity, enabling continuous improvement and alignment with strategic goals. SECTION 3: Assessing Policy and Regulatory Impact Through Performance Metrics ------------------ 3.1. Metrics and Reporting for Strategic Alignment (by Board of Governors): The School's strategy is further reinforced by its regulations and policies, each of which includes specific metrics to measure Key Performance Indicators (KPIs) and the effectiveness of the regulations, policies, and procedures. These metrics are assigned to responsible owners who must report on them. Management reports are consolidated and presented to governing bodies, including the Board of Governors, to evaluate the strategy and make necessary adjustments to policies, regulations, and procedures; This structured approach ensures that all policies and regulations are aligned with the School's strategy. By assigning metrics to specific owners and consolidating reports for governing bodies, the School can assess progress, ensure accountability, and adapt its strategy effectively. 3.2. Automated Governance System for Data-Driven Decision-Making (by CTO): The Automated Governance System (AGS) collects data to measure, analyse, and report on relevant metrics. Assigned owners use this data to provide reports to the Board of Governors, supporting both governance oversight and continuous improvement; By automating data collection and analysis, the AGS ensures accurate, timely, and consistent reporting, enabling informed decision-making and ongoing enhancement of the School's performance and governance. SECTION 4: Yearly Review and Enhancement of Academic Offerings ------------------ 4.1. Monitoring and Evaluation Roles and Responsibilities (by Academic Board): The School’s Monitoring and Evaluation Regulations ensure the quality of standards, curriculum, and graduation rates through defined roles:; Module Leader: Regularly observes module delivery, engages with students to drive improvements, and submits an annual module report; Programme Leader: Ensures programme coherence and high-quality delivery by working closely with students and module leaders and submits an annual programme report; Students: Have designated staff contacts and complete annual surveys. Student representatives meet each semester with module and programme leaders and the Director of Education in the Student Experience Committee to inform reporting; Director of Education: Oversees all annual module and programme reports and metrics, meeting with staff and student representatives, and reports on continuous improvement to the Academic Board, Executive Committee, and Board of Governors; Academic Board: Ensures programmes meet regulatory quality and standards, advising the Board of Governors on necessary changes; Board of Governors: Monitors and evaluates the School's performance against academic and business plans and key performance indicators; Clearly defined roles and responsibilities in monitoring and evaluation processes ensure that all stakeholders contribute to maintaining and improving academic standards, curriculum quality, and overall performance. This structured approach enables informed decision-making and continuous enhancement across all levels of governance. SECTION 5: Metrics-Based Oversight and Advancement of Institutional Practices ------------------ 5.1. Data-Driven Oversight and Continuous Improvement (by Executive Committee): The School uses data analytics, business intelligence, and data-driven insights to support oversight and continuous improvement. This approach enables evidence-based decisions and enhancements in strategy, service delivery, and student satisfaction; Data-driven oversight ensures the School can accurately assess performance and identify areas for improvement. By relying on analytics and insights, the School can make informed decisions that enhance strategies, services, and overall student experience.