Richard T. Jacobsen, PE
Professor and Director
Center for Applied Thermodynamic Studies
University of Idaho, Idaho Falls, Idaho

Current Activity:
ASME Vice President for Financial Operations
Knowledge and Community Sector

One of the things I have learned in managing finances in various organizations is that there is generally no new money for old ideas.  It is important to have a well-respected strategic plan for any organization and to manage to that strategic plan for the success of the organization.  ASME is a good example of this phenomenon.  When our budget problems were defined and the Society was reorganized to deal with the realities of the current resources, our sections and divisions were required to think about new ways of funding their activities.  While divisions had generally been partly or entirely self-sufficient, many returning revenue to the general fund of the Society, the sections were less likely to have local resources to support the new look of self-sufficiency.  Coupled with the need for funds for continuing operations was the need for a new way of carrying out the mission of the sections to meet the needs of local members, essentially a new strategic plan for operation of each section. 

As the Society has moved forward from the reorganization, the Board of Governors has approved the use of surplus funds in the ASME general fund and funds made available by the “sunsetting” of specific programs in the form of the ASME Strategic Priorities Grant Fund (SPGF).  This fund provides funds for support of ASME priority initiatives, beginning with the Society Fiscal Year 2006.  The funded incentives are expected to be broad, collaborative and cross-functional among units within the Society.  The Grant Management Committee, which has representation from each ASME sector, is responsible for the planning, management and communication of the grant process provided by the SPGF.

I am optimistic that this program, along with other Society programs, will provide opportunities for units of ASME to begin strategic initiatives that will lead to better ways of managing those units to meet the needs of our members.  This is a very exciting time to be part of ASME as the new mission and vision lead to new ways of doing our business in the global context.  As always, the success of ASME is in our hands and the challenges can be viewed as opportunities.

Related Links:
ASME funding options:  ASME Strategic Priorities Grant Fund 
ASME News' "From the President," February 2006: Late Breaking News