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Position your college for future program growth and financial sustainability while also engaging faculty.
Currently, academic leaders are rethinking their programs to meet the realities of student demands in a post-Covid environment. Some universities have sunset entire departments and programs, while others have taken programs hybrid or fully online. What is right for your division? And how do you gain faculty buy-in for the tough decisions you need to make? It is important to remember that programs are not solely measured by their monetary value; this makes program prioritization a challenging task that requires an inclusive, holistic approach tailored to the realities of each institution.
Join us online to learn how to standardize the process of assessing the return on investment (ROI) of your programs across your division. Hear from our expert, Kelly Ball, Associate Dean for Graduate Studies, as she demonstrates how to develop an inclusive ROI approach that accounts for mission, margin, and market. Participants will learn how to lead faculty and other stakeholders through this complex and necessary process, resulting in academic prioritization plans that create a resilient curriculum.
Who should attend?
This training is designed for deans, department chairs, academic leaders, as well as staff invested in and interested in program prioritization work.
1:00 – 3:00 p.m. Eastern Time
I. Introducing the Return-on-Investment (ROI) Approach
In this section, your instructor will explain how you can approach program prioritization using ROI. Specifically, we’ll answer the following questions:
- What is holistic ROI, and how does it differ from other ROI analyses?
- How is it directly relevant to higher ed and your role as a divisional leader?
- What are the advantages and limits of this approach?
In this section, we discuss the specific ways academic leaders can engage faculty and the shared governance system in creating an inclusive approach to ROI, and how the results of this kind of ROI analysis can be used to inform decision-making and academic planning.
This section covers:
- How to steward the governance process
- How to create and build consensus for your institution’s measures for the holistic ROI analysis
- Considerations for measuring a program’s margin, market position, and mission contribution
Participants will have the opportunity to practice building and applying these tools. You’ll be asked to review three programs, apply the holistic ROI analysis, and consider how the results can lead to informed decision-making balanced by mission, margin, and market.
III. Key Insights: The Importance of Strong Collaboration Between Academic and Financial Leadership
In the final section of the program, the instructor will be joined by the Vice President for Business and Finance (CFO) of Agnes Scott College, Dr. Ken England. Together, they will share insights from their collaboration and offer practical tips for effectively implementing an inclusive ROI approach.