A Quantitative Optimization Framework for Market-Driven Academic Program Portfolios

CentER Discussion Paper Series No. 2017-025

44 Pages Posted: 16 May 2017 Last revised: 17 May 2017

See all articles by Joshua Burgher

Joshua Burgher

Tilburg University - TIAS School for Business and Society

Herbert Hamers

Tilburg University - Center for Economic Research (CentER); Tilburg University - Department of Econometrics & Operations Research

Date Written: March 1, 2017

Abstract

We introduce a quantitative model that can be used for decision support for planning and optimizing the composition of portfolios of market-driven academic programs within the context of higher education. This model is intended to enable leaders in colleges and universities to maximize financial performance of the selection of market-driven academic programs while also achieving qualitative targets for dimensions of the portfolio (e.g., mission alignment, student demographics, and faculty characteristics). This model is then applied to a case from a school of continuing education at a prestigious private university in the US. The results of the case highlight the potential positive impact of utilizing a model such as this for planning purposes.

Keywords: Program portfolio optimization; strategic planning; integer linear programming; higher education; quantifying qualitative program data

JEL Classification: A1

Suggested Citation

Burgher, Joshua and Hamers, Herbert, A Quantitative Optimization Framework for Market-Driven Academic Program Portfolios (March 1, 2017). CentER Discussion Paper Series No. 2017-025. Available at SSRN: https://ssrn.com/abstract=2968404 or http://dx.doi.org/10.2139/ssrn.2968404

Joshua Burgher (Contact Author)

Tilburg University - TIAS School for Business and Society ( email )

Warandelaan 2
TIAS Building
Tilburg, Noord Brabant 5037 AB
Netherlands

Herbert Hamers

Tilburg University - Center for Economic Research (CentER) ( email )

P.O. Box 90153
Tilburg, 5000 LE
Netherlands
+31 13 4666 2660 (Phone)

Tilburg University - Department of Econometrics & Operations Research

Tilburg, 5000 LE
Netherlands

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