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A decision support model and tool to assist financial decision-making in universities

Citation

Bhayat, I and Manuguerra, M and Baldock, C, A decision support model and tool to assist financial decision-making in universities, Journal of Higher Education Policy and Management, 37, (1) pp. 69-82. ISSN 1360-080X (2015) [Refereed Article]

Copyright Statement

Copyright 2015 Association for Tertiary Education Management and the LH Martin Institute for Tertiary Education Leadership and Management

DOI: doi:10.1080/1360080X.2014.991529

Abstract

In this paper, a model and tool is proposed to assist universities and other mission-based organisations to ascertain systematically the optimal portfolio of projects, in any year, meeting the organisations risk tolerances and available funds. The model and tool presented build on previous work on university operations and decision support systems with an added robust process element to the task of reviewing projects that form part of a budget. In addition, the model and tool enable review of risk and return and assists universities and other organisations to determine the optimal mix of projects within a portfolio that provides the greatest financial return and the greatest contribution to the organisations mission. While the paper utilises key academic concepts, it has been created for practical use either inside or outside the budget cycle to assist decision-makers at universities and mission-based organisations. The aim has been to present in a manner to appeal to those with broad finance and accounting skills and to those with a more theoretical understanding of statistics.

Item Details

Item Type:Refereed Article
Keywords:financial decision-making; higher education management; optimal portfolio; risk and return
Research Division:Education
Research Group:Specialist Studies in Education
Research Field:Educational Administration, Management and Leadership
Objective Division:Education and Training
Objective Group:School/Institution
Objective Field:Management and Leadership of Schools/Institutions
Author:Baldock, C (Professor Clive Baldock)
ID Code:113082
Year Published:2015
Deposited By:Research Operations
Deposited On:2016-12-11
Last Modified:2017-04-20
Downloads:0

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