Universities invest research resources primarily to increase faculty members’ scholarly productivity. Many funds must be spent within the fiduciary controls established by an external entity such as a federal agency, state legislature, or private donor. This chapter explores how universities invest their resources within the constraints of these restrictions. The simplest form of investment is to give research money directly to faculty members, usually via a regularly scheduled competition run through a faculty research committee. Procedures for appointing the committee members and conducting the competition are discussed in detail. The chief research officer typically reserves a pool of money to distribute non-competitively for items such as start-up funds for new faculty members, cost sharing for grant proposals, emergency funding for researchers who have lost a major grant (bridge support), travel support, and re-training. Funding mechanisms for each of these items are examined. Faculty members changing institutions may have active research grants that they want to take with them. Granting agency policies for transferring grants are reviewed.
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