An Oversight Management Plan (OMP) is implemented when an Employee’ outside interest with an entity (usually a private business) engages with the university. The Oversight Management Plan reflects the policies of the university and is designed to mitigate risk and manage the relationship between the outside entity and the University.
Examples include but are not limited to:
- The faculty member is a founder/owner/equity holder or has a fiduciary role in a private business or entity that has plans or proposes to acquire rights to University owned intellectual property.
- The faculty member is a founder/owner/equity holder or has a fiduciary role in a private business or entity that is contracting to the University to conduct research.
The COI Office will arrange a meeting with all University Employees who have any ownership/equity or serve in a fiduciary role with the Entity, the associated supervisor(s)/chair(s), and a representative from OSPA, TAO, and the COI Office to gather information on the proposed activities by the Employees. Other individuals may be invited if deemed necessary. The information will be recorded in the OMP template and provided to COI Committee.
The COIC will determine:
- If any of the proposed activity needs additional management strategies
- The frequency of the review of the activities of the Entity as they relate to the University
The Employee’s Chair or Director is responsible for overseeing the relationship and ensuring the terms in the OMP are followed, including but not limited to, the conflict of commitment, use of university resources, and ensuring the Employee is following the management plan. The plan will be reviewed and updated annually, or more frequently, as initiated by COIC or the Chair/Supervisor. The Dean will ensure all management plans within their division/college are being appropriately managed.