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. For example:
- 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), valid as of 26 October 2021. These can be viewed here.