Managing Pooled Funds in Transportation Research
Handling partners transferring SPR and FHWA funds, setting up pooled funds, engaging partner agencies, managing financial commitments, ensuring project completion within cost and schedule, negotiating agreements, and closing out pooled funds efficiently are key aspects of leading a successful transportation pooled fund program.
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Most partners transfer SPR funds. How do you handle partners that want to send state funds? Similarly, how do you handle FHWA funds? How flexible are you when it comes to commitment/transfer schedules? Most partners transfer SPR funds. How do you handle partners that want to send state funds? Similarly, how do you handle FHWA funds? How do you set up your pooled funds? Are they one large project or multiple smaller projects? As the lead agency contact, how involved are you in the day to day of the pooled fund? What are some tools you use to manage your pooled funds? During or prior to the solicitation, what is your process for connecting with potential partner agencies? As a lead agency, do you accommodate partner states to use the research agency contract to execute their own studies? Besides the basic commitment amount, what other funding options do you consider (multiple reps, travel, funding levels, etc. ) and when do you consider them? When making payments on invoice how do you ensure work is done and on track? What should I ask a potential technical lead to get them ready to start a pooled fund? When is a good time to start sending reminder emails to financial contacts that they haven't initiated their transfer in FMIS yet? How do you decide whether to sole source the research team and when do you make that decision? When leading a pooled fund, there are a number of different assigned roles. Who typically does what? How do you ensure the studies run within cost and schedule?
Most partners transfer SPR funds. How do you handle partners that want to send state funds? Similarly, how do you handle FHWA funds? How do you handle TAC member travel if a partner agency hasn't transferred funding for that year? When do you mark objectives fulfilled on the TPF site? How do you decide how many years to request commitments? What advice would you offer in finding contractual management support for a pooled fund? Cost range to expect? Tasks? Why do some pooled funds seem to run longer than five years? Do you welcome a small state making a smaller contribution? Do you decide which projects are going to be TPF or is it initiated by the champion or their business area? What do you do when a partner does not transfer the amount of funds they committed? What does a posted financial commitment mean to you? Consideration, intent, pinky-swear, guarantee? How long does it take to close out a pooled fund? How do you receive private entity commitment/participation ?
