Strategic Directions 2006-2010
Financial performance - best practice standards
To ensure our resources are devoted to achieving our core purpose, the University will strive to become a world-class organisation with an uncompromising focus on service delivery, administrative efficiency and effectiveness.
An emphasis on best practice standards in policy, procedure and processes will ensure that performance in the key functions of student services, human resources, university relations and marketing, information technology, administration and financial management is continuously improving.
To ensure organisational performance at the highest level, we will benchmark our effectiveness against world class peers and industry, and thereby benefit from the broadest possible base of initiatives and opportunities.
Our priorities are to:
- ensure financial sustainability by implementing effective organisational performance improvement strategies
- achieve world class shared service operations
- eliminate resource-consuming duplication and overlaps
- implement quality standards and principles, and
- develop best practice approaches to structures, processes, and procedures.
By 2010, we will implement shared service operations across all support services, achieve recognition as a best practice quality site in support services, and achieve an operating margin of 15 per cent on revenue.
Standards of performance and benchmarks
- Increased operating margin
- Higher revenue growth rate
- Greater revenue diversity
- Better employee benefits costs to revenue ratio
- Improved core-to-support cost ratio
- Continuous improvement in best-practice financial disciplines and fiscal stewardship