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The relationship between the strategic plan and the budget

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How would you describe the relationship between the strategic plan and the budget in higher education? What should it look like when everything goes according to plan? What are some keys to ensuring that things do go accordingly to plan?

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Solution Summary

The strategic plan and budget for higher education are compared and their relationship discussed.

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In reference to higher education institutions, there is often an inability to focus on the actual Return On Investment because this is more difficult for higher education organizations to ascertain. There are many benefits associated with universities that can't be quantified using the traditional budgetary model. Therefore, the strategic plan must be in alignment with the budget using cost-benefit calculations ...

Solution provided by:
Raushaun Rigsby, MSc
Education
  • Associates of Arts , Lone Star Community College
  • Bachelor of Science , Sam Houston State University
  • Masters of Science, Kaplan University
  • Masters of Science , Kaplan University
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