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POLICY AND PROCEDURE FOR SEED MONEY FOR RESEARCH/FINANCIAL ASSISTANCE TO FACULTY MEMBERS Version 2.0Page |2019 1 Approved vide agenda item 15.21 of Board of Management Meeting dated 16 Jan., and Agenda
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Policy and procedure are established guidelines that organizations create to ensure consistent decision-making and actions within the organization. They provide a framework for operations and help in maintaining compliance with laws and regulations.
Typically, organizations, including businesses, non-profits, and government entities, are required to file their policies and procedures to ensure they adhere to regulations and standards applicable to their operations.
To fill out policy and procedure, organizations should clearly outline the purpose, scope, responsibilities, and specific steps to be followed. It's important to involve relevant stakeholders in the drafting process to ensure completeness and clarity.
The purpose of policy and procedure is to provide a clear set of guidelines and expectations within an organization to promote efficiency, ensure compliance, minimize risks, and facilitate communication.
Information that must be reported includes the policy's objectives, applicable regulations, procedures to be followed, responsible individuals or departments, and methods for evaluating effectiveness.
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