Just about any opportunity or problem can be addressed through the TMP process. Good project topics deal with matters that are important to the organization, but for which few resources exist. In addition, any area that benefits from an interdisciplinary approach—for example, cost—and technology-justification models for prioritizing drug targets makes an excellent TMP.
The corporate liaison plays a crucial role in TMP success. The liaison role is much more than a “when I get time” responsibility. Ideally, team involvement should become an explicit part of the individual’s job description for the duration of the project. Our most successful corporate liaisons report spending from two to four hours per week on the project.
Not only does the liaison help ensure that the project remains on track and that its goals continue to be relevant, but he/she serves as the gateway to the rest of the organization. Ideally, the liaison is thoroughly knowledgeable about the project topic, has excellent communication skills, and can work successfully with bright young graduate students. Also, the liaison should have adequate authority within your organization to make timely decisions and obtain buy-in.
Yes, fast-track TMPs can run from January-May, providing outcomes in a much shorter turnaround than the traditional nine month TMP model.
The TMP fee is $60,000 or about $25/hour for the 2,000-hour student team time investment. Historically, all costs—including a modest amount of travel, supplies, conference fees, and the like—have been covered by this sum. Should significant equipment purchases or extensive travel be involved with a project, KGI is willing to negotiate with the sponsor.
TMP sponsors—especially repeat clients—often face this dilemma. Here are some criteria that can be used to select an opportunity:
Sponsors provide skill lists that we use to formulate teams. Since the TMP is a curricular element, final student assignments are made by the faculty. However, it is common for companies to start the project during a summer internship, with the student intern transitioning to the project team in the fall.
Email us a one sentence description of your top three problems/issues/opportunities, and we will supply you with brief descriptions of how a team could support your needs.
KGI has two other TMP models: the fast-track program, which runs from January-May, and the ad hoc program, which can begin at any time. Contact us for more details, including pricing, on these two options.
Here are some ideas for engaging your team members early and solidly:
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Use these handy questions to determine how a Team Master’s Project could benefit your firm. If you answer “yes” to at least one of these questions, a TMP is right for your company!
The TMP at KGI provides an opportunity for your company to tackle real-life needs and help address corporate objectives without having to invest in additional permanent assets.