There are several facets to the costs of accreditation:
- Payments made to the relevant accreditation bodies and comprise a mix of membership fees, accreditation fees and other expenses etc. These are relatively fixed and easy to estimate (see link below).
- Staffing and advisory costs to support accreditation. These are harder to estimate, and depend on several factors. Will there be an accreditation team with sufficient time and experience to manage the full accreditation process? Are there additional faculty allowances given to accreditation? Will the School require some external input, to support the internal resources?
- Investment Costs: These vary hugely from school to school and naturally depend on each School’s strategic priorities. Of course, strategic investment costs are not always linked to accreditation: Some strategic decisions will be made regardless of accreditation plans. Others may only be made as a consequence of accreditation.
QED has listed the costs and fees associated with each of the accreditation bodies (#1 above). These can be viewed here.