Using ROI for Strategic Planning of Online Education: A Process for Institutional Transformation

This book emphasizes the importance of using ROI methodology in higher education to evaluate the effectiveness and efficiency of online education programs. It provides a comprehensive guide for determining ROI, including strategies for strategic planning, measurement, and progress tracking. The book also highlights the role of previously overlooked constituents in impacting the ROI of online programs, such as online professionals and institutional stakeholders. It offers a range of approaches to ROI, reflecting different strategic priorities and types of return institutions seek from their investment in online programming.

Format: Paperback / softback
Length: 272 pages
Publication date: 01 September 2022
Publisher: Stylus Publishing

While higher education has rarely employed the ROI methodology, focusing more on balancing its revenue streams, such as federal, state, and local appropriations, tuition, and endowments with its costs, the rapid growth of online education and the history of how it has evolved, with its potential for institutional transformation and as a major source of revenue, as well as its need for substantial and long-term investment, makes the use of ROI an imperative. This book both demonstrates how ROI is a critical tool for strategic planning and outlines the process for determining ROI. The book's expert contributors lay the foundation for developing new practices to meet the compelling challenges of online education and identify new models that offer the potential for transforming the educational system, meeting new workforce demands, and ultimately improving the economy.

The opening chapters of the book explore the dimensions of ROI as a strategic planning process, offering guiding principles as well as methods of measurement and progress tracking, and demonstrate the impact of ROI across the institution. The book identifies the role of previously overlooked constituents, such as online professionals, as critical partners for developing institutional strategy, and institutional stakeholders, for vital input on inclusivity, diversity, and equity, and their increasingly important role in impacting the ROI of online programs.

Subsequent chapters offer a range of approaches to ROI reflecting the strategic priorities and types of return institutions seek from their investment in online programming, whether they be increased profits or surpluses via reduced expenses or increased operating efficiencies or the development of increased brand awareness for their programs.

Dimension: 229 x 152 (mm)
ISBN-13: 9781642673258