Resource Management for Colleges and Universities, authored by William F. Massy and published by Johns Hopkins University Press, presents a revolutionary approach to resource management in higher education. This insightful book emphasizes how comprehensive activity-based models can empower university leaders and faculty to reshape their institutions. The discussion revolves around enhancing strategic and tactical decision-making through effective resource management.

In higher education, resources play a crucial role, driving incentives and accountability for faculty and staff. They also provide the necessary infrastructure for academics to perform their duties effectively. Despite American colleges and universities being recognized as the gold standard in global higher education, the book identifies significant flaws in their decision-making cultures and business models.

Massy argues that resource allocation must become more aligned with academic missions, market realities, and the principles of financial sustainability. He highlights that many institutions currently lack the evidence, expertise, and cultural readiness to leverage modern information systems and models effectively.

Fortunately, contemporary academic resourcing models present a unique opportunity for academic leaders and faculty. These models can help close existing gaps, enabling institutions to better manage costs and enhance academic performance. Massy outlines three primary types of comprehensive activity-based resource (AR) models: internal economic models, external economic models, and mission-market-margin models.

When employed correctly, these models can support mission-critical academic decisions, acting as game-changers for college and university management. Massy provides real-world examples of how universities utilize these models to gain insights into their teaching and research revenues and costs. Additionally, he discusses the necessary predictions for budget planning adjustments.

This book builds upon the foundations laid in Massy’s earlier work, ‘Reengineering the University,’ and offers readers both the tools and the motivation to initiate transformative changes within their institutions. With detailed insights into the operational dynamics of academic organizations, Massy encourages university leaders to adopt the necessary changes to improve resource management effectively.

In conclusion, ‘Resource Management for Colleges and Universities’ serves as a critical resource for leaders and faculty in higher education. By adopting the principles outlined in this book, institutions can not only improve their resource management practices but also enhance their overall academic performance and sustainability.