Resource Allocation in Higher Education

by Massy, William F.

• ISBN13: 9780472106868
• ISBN10: 0472106864
• Format: Hardcover
• Copyright: 1996-04-01
• Publisher: Univ of Michigan Pr

Summary

Resource Allocation in Higher Educationdescribes how colleges, universities, and government agencies can use budgeting processes to improve program planning and productivity. Drawn from the contributors' direct experiences as well as research findings, it blends conceptual foundations with practical insights. Many resource allocation processes in higher education need reform, and this volume will stimulate and assist that effort. Beginning with the economic theory of nonprofits, the essays examine current budgeting systems in both theoretical and practical terms. Resource allocation systems from other domains such as health care are explored for relevant insights. Throughout, decentralization remains a major theme. Topics range from the eminently practical--how to establish a global accounting system or choose an endowment spending rate--to the more abstract--the theory of how various nonprofit enterprises balance academic values against market pressures. The volume ends by proposing value responsibility budgeting, which offers institutions a potentially better way of pursuing their academic values while remaining responsive to market pressures. Those within higher education institutions who are responsible for resource allocation, such as provosts, chief financial officers, or budget directors, will find much that speaks to them. While mostly in the domain of higher education economics, management, and planning, the essays are written for any serious reader concerned with the problem of reform in higher education. William F. Massy is Professor of Education and Business Administration at Stanford University.

Table of Contents

Part 1. Background	1	(86)
Introduction	3	(12)
William F. Massy
Reengineering Resource Allocation Systems	15	(34)
William F. Massy
Productivity Issues in Higher Education	49	(38)
William F. Massy
Part 2. Capital	87	(54)
Endowment	89	(26)
William F. Massy
Optimizing Capital Decisions	115	(26)
William F. Massy
Part 3. Decentralization	141	(50)
Organizing for Effectiveness: Lessons from Business	143	(20)
Edward Lawler III
Susan A. Mohrman
Revenue Responsibility Budgeting	163	(28)
Jon Strauss
John Curry
Edward Whalen
Part 4. Other Contexts	191	(52)
Lessons from Health Care	193	(30)
William F. Massy
David S. P. Hopkins
Britain's ``Performance-Based'' System	223	(20)
Elaine El-Khawas
William F. Massy
Part 5. Models	243	(82)
Quantitative Funding Models	245	(22)
Harry Atkinson
William F. Massy
Global Accounts	267	(26)
Gordon Winston
Value Responsibility Budgeting	293	(32)
William F. Massy
Index	325