Annual Review 2003

Read our objectives of appraising the New Institute project, encouraging other IEng mechanical engineers to join the Institution, and assisting in the wider promotion of engineering.

The most significant issue of 2003 was the negotiations between the Institution of Electrical Engineers and Institution of Incorporated Engineers to create a new body, the proposed Institute of Engineering. Furthermore, our Trustee Board has become a business-oriented board allowing quick decisions to be taken on projects and initiatives.

Our publishing arm, PE Publishing, has steadily recaptured lost ground from 2002, indicating a strong move towards reaching its budget in 2004. And rises in the stock market over the last 12 months have reduced the deficit in the Institution’s pension scheme.

Appraising the New Institute project

With three large membership organisations - the Institution of Electrical Engineers, the Institution of Incorporated Engineers and us - there were many issues which required resolution before the Trustee Board could go to the membership. We will revisit the information and conclusions from the New Institute project to re-appraise the learned society and other objectives of the Institution, determining any necessary changes to enhance delivery to the membership.

Encouraging other IEng mechanical engineers to join the Institution

In June we were granted licences to accredit and accept Incorporated Engineers into corporate membership. It is hoped that this significant step will encourage other IEng mechanical engineers to join the Institution, the natural professional home for those involved in mechanical engineering.

Assisting in the wider promotion of engineering

Our corporate membership shrank by more than 600 members in 2003. Although this figure is better than some other Institutions, it does demonstrate a trend towards fewer Chartered and Incorporated Engineers in the UK. We have therefore joined the Engineering and Technology Board in their Strategic Partnership to assist in the promotion of engineering, and registration, to individuals and industry.