Situation:
The Faculty of Dentistry engaged Strategy and Decision Support to conduct a financial analysis and assess the impact of investing in the renovation of a simulation and digital dentistry computer lab. The project would be instrumental in implementing state-of-the-art dental technologies and learning methodologies into the dental academic and clinical education programs.
Our Actions:
- Conducted environmental scan and comparator analysis to establish precedent
- Validated project costs, including capital outlays and recurring operating expenses, with subject matter experts
- Developed a multi-scenario financial model to assess long-term financial sustainability and return
Results:
- SDS provided recommendations, identified project risks, and articulated corresponding mitigation strategies
- The new facility is planned to open fall 2022 (may be delayed due to COVID-19)
Dentistry’s experience working with the entire SDS team on our high impact Simulation Digital Dentistry project was truly enlightening as well as an informative process. The research and analysis produced was relevant, inclusive of all parameters and extremely thorough. Financial modeling was provided with three scenarios allowing flexibility when executing the final plan. The SDS team's work gave our Faculty the confidence to move forward on this project."
Dr. Mary MacDougall, Dean of Dentistry