Forecasting, Budgeting, and Managing Money in an Environment of Uncertainty and Risk - October 2024
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Register
- Non-member - $599
- Member - $459
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 Academic Program Development and Support
University of Connecticut
Michael Jones is the Director of Academic Program Development and Support at the University of Connecticut. In this role, he leads a team focused on launching and supporting innovative, revenue-generating academic programs. His portfolio includes program design, market analysis, enrollment strategy, and long-term financial planning. Michael also oversees UConn’s Summer Programs and the Office of Professional and Continuing Education, further expanding access and opportunity for diverse learner populations. Previously, Michael served for eight years as the Finance and Strategic Operations Lead at UConn’s Center for Excellence in Teaching and Learning (CETL), where he managed financial, HR, and strategic operations. He worked closely with the Associate Vice Provost to enhance the performance and impact of all CETL units.
With 15 years of experience in higher education, including nine at UConn, Michael has also held leadership roles at the University of Maryland, College Park. Before transitioning into higher education, he spent a decade in the private sector at AT&T, where he developed a strong foundation in business operations that continues to inform his work in higher education. He holds an MBA from the University of Maryland Global Campus and is an EdD Candidate at Northeastern University.
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."
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