Book Description

Drawing on the authors' extensive experience at Stanford University as well as the work of others, this first systematic approach to fiscal and human resource planning in colleges and universities shows how decision models can and should become an integral part of the planning process. The authors first discuss the uses and misuses of planning models in general and the principles and methodologies for developing such models. They then describe many specific models that have proved to be useful at Stanford and elsewhere in solving immediate problems and establishing long-term goals. These models cover such diverse programs as medium- and long-range financial forecasting; estimating resource requirements and the variable costs of programs; long-run financial equilibrium and the transition to equilibrium; faculty appointment, promotion, and retirement policies; predicting student enrollments; and applying value judgments to financial alternatives. The final chapter discusses the applicability of Stanford-based planning models to other schools.