Leaders in Online and Professional Continuing Education

Forecasting, Budgeting, and Managing Money in an Environment of Uncertainty and Risk - October 2024

Includes Multiple Live Events. The next is on 10/30/2024 at 3:00 PM (EDT)

Faculty Member

Michael Jones 

Cost

Members: $459.00

Non-Members: $599.00

Description

How do those in online and professional continuing education analyze opportunities, project revenue and expenses, identify prudent ways to manage resources, monitor cash flow, and mitigate financial disaster? How do you measure success and respond to failure, reallocate resources, and determine new investment opportunities? Those in online and professional continuing education often operate as a stand-alone business by relying on revenue to support operating costs, and depending on forecasting, cash flow, and agile pivoting to new strategies.

Topics Covered

  • Resource Allocation and Budgeting Basics
  • Forecasting 
  • Creating a Program Business Plan 
  • Evaluating Partnerships 

Learning Objectives

  • Differentiate between resource allocation and resource generation budgeting and analyze the implications for online and professional continuing education organizations
  • Create a course budget and financial statement
  • Create alternative future scenarios
  • Understand and evaluate opportunity costs
  • Distinguish between development and delivery costs and understand amortization
  • Articulate the value proposition of both partners of the partnership
  • Anticipate and mitigate the common barriers in forming partnerships

Who should take this course? 

This course is designed for learners at various professional levels, particularly those who have some experience in online and professional continuing education education administration who seek to learn more about financial forecasting and creating budgets at the course, program, and departmental level. 

Format and Schedule

This is a five week course consisting of about five hours of weekly course work made up of readings, asynchronous activities, and a weekly one-hour live class meeting on Wednesdays at 3:00 PM ET via Zoom beginning Wednesday Oct 23.

Michael Jones

Director of Finance and Operations at the Center for Excellence in Teaching and Learning

University of Connecticut

I serve as the Director of Finance and Operations at the Center for Excellence in Teaching and Learning (CETL) at the University of Connecticut.  In this role, I support the Associate Vice Provost for CETL by providing financial, HR and strategic/operational guidance for all units within our portfolio.  I also serve as the business liaison with university central administration and academic departments.  I have worked in higher education for the last 10 years, and I have been in my current role for the last five years.  Prior to the University of Connecticut, I worked in several different leadership positions at the University of Maryland, College Park.  As someone who was a non-traditional student myself, I am committed to advocating for and working toward advancing opportunities for non-traditional students.

See what past participants have said about this course 

"I greatly appreciate all the resources you provided in our course: the readings, lectures, and discussion prompts were excellent."


"Dr. Matkin was welcoming to all participants. He was intentional about using our names and making connections between what we had each written or said the prior week with our contributions this week. Most importantly, he met each of us "where we are," whether a PCO leader who is very comfortable with budgets or a leader who is new to the financial aspects of their role. I appreciated the respect he demonstrated to each of us by doing so."


"The examples of budgets and program planning were so beneficial to me. The readings for course budgeting were insightful and helpful too!"


"Overall, this course was exceptionally run and the material was relevant to the struggles we're facing right now. I speak for my colleagues in saying that we enjoyed this course so much, we are sending 3 additional people to the course."


"Gary is so knowledgeable about this field and provided valuable practical tools and templates. The course was focused, with clear learning objectives and assignments that aligned to those objectives."


"I have been asking for this the contents of this very course for 5 years and couldn't find anything remotely relevant. Thank you for this! His book is now my bible."


"Gary was incredibly knowledgeable and could address every facet of developing a PCO."


"I will be sending my program leads to this class next time around in February."


"I thought the content was very good. I learned some new things and validated my thinking on others."


"A wealth of knowledge. His book is a great tool to keep. Resources provided were top notch. Answered all questions."

Key:

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Getting Started (for first-time participants)
Quick Start Guide
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Read Overview of course navigation, technology, and support.
Course Overview
Meet Mike Jones
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Learning Outcomes
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Click here to read the Objectives
Video - Course Welcome
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Pre-Course Introduction Video Script
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Instructor Contact & Course Support
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Click here to read the Instructor Contact info
Introductions
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Read the discussion prompt
Course Welcome - Video Conference Meeting - Wednesday 10/23/2024, 3:00 PM to 4:00 PM (Eastern)
10/23/2024 at 3:00 PM (EDT)  |  0 minutes
10/23/2024 at 3:00 PM (EDT)  |  0 minutes Join Zoom Meeting https://upcea.zoom.us/j/86919892980?pwd=akskMcBSYzrWEsAbGCC33Ixlkg8gUH.1
Week 1: Foundations of Financial Management in Continuing Education
Week 1: Overview
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Click here to read the weekly overview
Week 1: Reading and Resources
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Click to view reading and resources
Week 1: Video 1.1
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Week 1: Video 1.1 Script
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Week 1: Video 1.2
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Week 1: Video 1.2 Script
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Click to read Exploring Revenue Streams and Funding Models in Online and Professional Continuing Education
Week 1: Video 1.3
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Week 1: Video 1.3 Script
Agree to terms to continue.
Agree to terms to continue. Budgeting and Financial Planning in Online and Professional Continuing Education
Week 1 Discussion: Budget Model and Funding Analysis in Your Organization
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Week 1 - Video Conference Meeting - Wednesday 10/30/2024, 3:00 PM to 4:00 PM (Eastern)
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Week 2: Building the Budget and Forecasting Revenue and Expenses
Week 2: Overview
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Click here to read the weekly overview
Week 2: Reading and Resources
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Click to view reading and resources
Week 2: Resource - Budget Examples
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Open to download resource. I have provided an Excel sheet with two budget examples. The first tab is an example of a high-level budget I use at my institution. The second tab is one shared by Gary Matkin. You can use one of these budgets for the budget creation exercise or share a budget template from your unit.
Week 2 Video 2.1
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Week 2: Video 2.1 Script
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Week 2 Video 2.2
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Week 2: Video 2.2 Script
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Week 2 Video 2.3
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Week 2: Video 2.3 Script
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Week 2 Activity 1: Budget Creation, Analysis and Reflection
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Graded as Pass/Fail
Week 2 Discussion: Budgeting for Uncertainties and Risks
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Week 2 - Video Conference Meeting - Wednesday 11/06/2024 3:00 PM to 4:00 PM (Eastern)
11/06/2024 at 3:00 PM (EST)  |  0 minutes
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Week 3: Budget and Its Impact on Business Planning in PCO Units
Week 3: Overview
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Click here to read the weekly overview
Week 3: Reading and Resources
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Click to view reading and resources
Week 3: Video 3.1 Script
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Week 3: Video 3.2 Script
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Week 3: Video 3.3 Script
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Week 3 Activity: Conduct a Budget Reallocation
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Graded as Pass/Fail
Week 3 - Video Conference Meeting - Wednesday 11/13/2024, 3:00 PM to 4:00 PM (Eastern)
11/13/2024 at 3:00 PM (EST)  |  0 minutes
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Week 4: Partnerships and Revenue Sharing
Week 4: Overview
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Click here to read the weekly overview
Week 4: Reading and Resources
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Click to view reading and resources
Week 4: Video 4.1 Script
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Week 4: Video 4.2 Script
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Week 4: Video 4.3 Script
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Week 4: Video 4.4 Script
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Week 4 Discussion: Partnerships - Challenge and Opportunity
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Week 4 - Video Conference Meeting - Wednesday 11/20/2024, 3:00 PM to 4:00 PM (Eastern)
11/20/2024 at 3:00 PM (EST)  |  0 minutes
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