FINANCIAL AND RESOURCE MANAGEMENT FOR THE ACHIEVEMENT OF QUALITY ASSURANCE GOALS: PRINCIPLES AND GOOD PRACTICE EXAMPLES

Abstract

This article seeks to set up a ground for including financial dimension to the HEI’s quality assurance and quality enhancement strategy. The focus is on a balanced institutional approach to financing and resourcing quality assurance goals on a long term basis. The discussion starts with the assumption that the quality strategy of the university would not be viable in a long run if the structures and activities it includes are not properly resourced and effectively managed. The author applies the balanced score card methodology to establish a number of principles guiding the financial approach of the institutional management bodies to their quality-related strategies. Each principle is then explained and provided with a set of questions, guiding its implementation in the process of financial strategic planning. Since the questions tend to reflect examples of good practice provided by diligent universities, they can be used as reference points for the modelling of individual institution’s approach to financial management for the achievement of long term quality goals.