Think you know which academic programs are high revenue contributors for your college? An economic analysis will reveal the truth. Don’t risk your institutions financial health on guesses or outdated rules of thumb. Learn how to ensure data-informed outcomes.
Higher education is becoming more competitive, but there are still many opportunities for growth – if you know how to look for them. One secret is distinguishing between competition, which is ubiquitous, and market saturation, which is rare.
An academic program evaluation process is data-informed, transparent, collaborative, and intensive when done correctly. Having a strong analytical foundation and a clear, inclusive process for program evaluation leads to better decisions, strengthens relationships across the campus, and is consistent with the principles of shared governance.
A sound Program Evaluation System (PES) marshals the data, software, people, and decision-making processes that enable fast, well-informed, and broadly supported program decisions. Several of the largest and most successful participants in higher education now use a Program Evaluation System (PES) to guide their program decisions.
In an excerpt from Start, Stop, or Grow, Robert Atkins discusses curricular efficiency, which measures, manages, and improves the units of education that can be delivered for a given amount of instructional cost and quality, and the importance of the cost per student credit hour (SCH).
When it comes to fixing an academic program portfolio or running a healthy institution, understanding program economics is vital. The goal is typically not to profit, but to generate funds that the college can re-invest to advance its mission, strategy, and quality of instruction.
Some assume clear links between academic programs and occupations for graduates, which are neatly embodied in the NCES crosswalk between programs and occupations. In theory, they are right. In practice, it is bunk for graduates with a bachelor’s degree.
Many community colleges and other higher education institutions use labor market forecasts to inform decisions on academic programs, faculty hiring, and facilities investments. How accurate are these forecasts?
When evaluating current and new academic programs, community colleges usually focus on the needs of employers, in particular local employers. and fuels local economic growth.
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