Colleges and universities are complex and multifaceted operations; creating a financial model that provides the flexibility to control important business levers and produces the key metrics that stakeholders use to make decisions can be difficult. Striking the right balance between having enough detail to ensure confidence in the results, while maintaining a birds-eye view of the institution to keep the model usable year after year, is critical for success. Design thinking offers a new approach to problem solving that has gained steam in some professional circles because it often leads to better solutions for the end-users. We have taken core concepts from that approach, and applied them to the financial modeling process.
Author: Brandon Rosenbluth