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
Date Written: March 1, 2017
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: Suggested Citation