What can you do with four minutes?
You can close the report and check the clock, update your to-do list, sort through your mail, or respond to a minor e-mail query. There are many important tasks you can do in four minutes. And if you don’t do them now, you’ll just have to find another four minutes later. Of course, none of this matters if you have plenty of time and too little to do, but most institutions have finite resources and must be deliberate in how they use them. Program assessment presents a special challenge to resource allocation, requiring a similarly deliberate approach.
To manage resources effectively, it’s important to know how much it costs to teach students in your programs. Instructional costs vary from program to program based on class size, faculty salaries, equipment, and technology. And not all programs will generate enough revenue to cover costs. That’s OK as long as those high-cost programs are balanced with “cash cows,” programs that generate more revenue than expenses. Instructional cost data can play an important role in strategic planning.
