As part of the planning for the move from our current chart of accounts (CoA) to the foundation data model (FDM, Workday’s terminology for CoA), the FST Steering Committee formed a subcommittee to look at data governance. This subcommittee recently transitioned into the FDM Governance
Working Group and created a charter that outlines the following:
- The FDM Governance model is necessary to create and maintain a consistent structure of the data elements and segments of the chart of accounts that will service the needs of ALL UVA constituents.
- The clarifications and decisions made will aid in facilitating more consistent usage of accounting and reporting standards across the enterprise and would be independent of the accounting system.
- This working group will leverage local finance and administrative expertise and knowledge in representing both financial and non-financial stakeholders, expanding and maturing as the FDM model unfolds and is deployed.
- The FDM Governance Working Group has been tasked with the creation of a fully operational Governance structure that will ultimately provide the appropriate oversight and governance as it relates to the Workday Foundational Data Model (FDM).
The working group is responsible for defining member roles and responsibilities. The group recently expanded its membership further to ensure appropriate representation from the College, schools, and auxiliary enterprises (such as Facilities and Athletics), as well as UPG and the Medical Center. The group will also review FDM considerations and make recommendations, such as what required and optional worktags UVA will use, worktag creation/data definitions, hierarchy creation/use, configuration including access/security, and specialized school and unit considerations. It’s also within the group’s purview to establish a structure for after go-live that supports ongoing FDM decisions.
As implied by the word foundation in its name, the FDM must be well designed to ensure it will serve UVA’s future needs before it is solidified. The FDM Governance Working Group will collaborate with project workstream leads and stakeholders to complete this work, bringing recommendations to the FST Steering Committee for approval._____________________________________________________________