Current higher education data collection systems are difficult to use and struggle to keep up with trends. Key performance indicators provide an adequate method for determining information like percentages of funds given by donors and percentages of students that fall within certain ranges of SAT scores. They include measures regarding revenues, expenditures, assets, liabilities, fund balances, and fund raising. It’s essentially a different way of looking at things. If so, a goal might be to increase six-year graduation rates for first-generation students. Think of the burden that falls on your institutional research department without an analytics program. A common KPI here is first year to third year retention rates. To enhance the quality of higher education institutions (HEIs), key performance indicators (KPIs) must be explored and measured. By changing the metrics, financial key performance indicators could provide one score that encompasses market position, academic reputation, risk exposure, overall effectiveness, student services, research services, and support. All educational organizations are different: they have their unique values and Important key performance measures – definitions and calculations Analyzing the results and taking action Examples and discussion Conclusion Source material: In this presentation, McGladrey, LLP is summarizing information on ratios for higher education institutions made popular by the publication, “Ratio Analysis in Higher © 2019 Precision Campus. A goal in this instance could be to increase section fill rates by 20% within the next two years. “Since we’ve incorporated a model that bases placement off of high school GPAs, the number of students completing transfer-level English and math courses in their first year has increased substantially. It’s in everyone’s best interest to implement a higher education data analytics platform that can do all of this heavy lifting for you. Taking a different approach to evaluating higher education institutions requires taking a different approach to metrics to demonstrate progress toward broad goals and prove the kind of accountability and transparency that regulators, legislators, and other stakeholders are looking for. They should be part of a scorecard that also weighs additional indicators such as stock performance, academics, reputation and performance measures, facilities, service excellence ratings, risk exposure, etc. Performance Framework for Higher Education3 published in 2013. A “KPI” is a Key Performance Indicator, or in other words something that we can track or measure. It will take some time before all colleges and universities will take a modern approach to defining and measuring their performances. Two-year community colleges seem to have been hit hardest. The PISG was able to take account of the work of the Higher Education Management Statistics (HEMS) Group, which CVCP, SCOP, COSHEP and CSCFC constituted in 1995, following the earlier work of … Here are the 5 Key Indicators of School Performance… Based on the key performance indicators presented in previous reports of the GOPA team, the Ministry of Education … Subsequently, colleges and universities waste valuable time navigating disorganized…. How Public College Boards Can Best Approach Evaluations, Open Meetings, Closed Sessions: Executive Session as a Tool, For-Profit Healthcare Organizations vs. Not-for-Profit Healthcare Organizations. It’s definitely saved our research department time.”. With time and experience, institutions will be able to refine the key performance indicators to provide the most objective analysis possible to recoup the many benefits of their efforts for measuring and reporting their performance. These are broken down into five categories: Using an instructional budgeting tool, you can compare the cost of employing part-time vs. full-time faculty members. When the economy is strong — like it is now — enrollments decline, and the projected decreases in high school graduates are adding…, Data is the lifeblood of decision making in higher education, but colleges and universities have long faced barriers when it comes to accessing and utilizing it for their benefit. While this can be done through the process of strategically choosing key performance indicators, and developing the right scorecard, it requires a different mindset and a willingness to be innovative. The expected behavior must be specified by name, using an observable action verb such as … Dashboard indicators consist of a variety of measures that generally are related to the strategic mission of the institution or to the specific office developing the dashboard. 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