Colleges often respond to financial pressures by cutting programs, according to financial consultant Richard Staisloff. The former chief financial officer witnessed the practice at his own small college, but urges campus leaders to analyze all of their offerings before making cuts. Rather than assessing courses individually, they should be viewed as individual components of a larger, holistic academic portfolio.
This
Chronicle issue brief,
The Right Mix of Academic Programs, explains how to approach a program audit or prioritization process and where to go from there. Collaboration between the administration and the faculty is key, as is balancing business and academic mindsets.
