STAR Review Timeline: Phase 2

Missing Content Components...
ComponentDatasource namePlaceholder
Sidebar GroupGroup1RightRail

In May 2013, the Huron Consulting Services team began helping Drexel implement many of the recommendations presented to the Steering Committee as part of Phase 1. These Phase 2 efforts focus primarily on re-designing the University budget model, transforming the institution’s Procurement and Payable operations and improving student retention through enhanced student lifecycle management.  Here is a high-level outline of each initiative from the Huron perspective:

Budget Redesign (28 months)

  • Work with the project’s Steering Committee to update a set of guiding principles that will most effectively govern an incentive-based model that is ideal and unique for Drexel
  • Build a pro forma financial model based on FY2012 financial data that provides a platform for testing various model alternatives and scenarios, and allows stakeholders the ability to understand strengths of different incentives
  • Build consensus for and index the various revenue and cost allocation rules and assumptions that will inform future budget allotments and funding levels
  • Identify and list the critical decision points that impact the model

Procure-to-Pay Transformation (24 months)

  • Work with University Purchasing and Accounts Payable to define a new procure-to-pay strategy and develop the policies, processes and structure to support strategic changes
  • Finalize strategic sourcing of three identified commodity areas: Office Related Products, IT Hardware and IT Peripherals
  • Gather requirements, evaluate vendors and purchase an eProcurement system with which the University can begin to host preferred contracts for enterprise purchasing and paying activities

Student Lifecycle Management (18 months)

  • In cooperation with Drexel, develop a new financial aid strategy to meet a consistent percentage of need for all students and target outstanding applicants with merit aid
  • Work with Enrollment Management to migrate to a selective, context-based admissions approach for undergraduate applicants
  • Develop an institutional enrollment growth and net tuition revenue projection model to estimate future needs and outcomes and to serve as a decision support tool for Drexel leadership
  • Assess the Colleges’ current and middle-term academic capacity for delivering quality educational outcomes to students, as well as the market forces impacting demand for academic programs

Contact Us