Numerous IT and facilities and infrastructure upgrades were undertaken in Year 2, which will lead to a significantly strengthened physical and technological environment and enhanced capabilities for the future. Stevens’ financial performance further improved.
Goal I1
We will institute an efficient process to periodically assess every graduate and undergraduate program from a strategic and fiscal perspective to ensure currency and relevance for our students, the employers and partners who hire them, and other key stakeholders.
OWNERS: PROVOST GEORGE KORFIATIS AND VICE PRESIDENT LOUIS MAYER
The Periodic Program Review Policy and associated processes and review templates were developed in Year 2. A perpetual review schedule was established and communicated to the programs. Fiscal progress includes: designed school-level reports allocating the earned revenue of the school and comparing it to the direct expenses of the school; designed new structures within the Kuali Financial System to appropriately identify and capture granular level expenses so they can be allocated to various areas of the institution; began discussions with schools to determine how this program-based planning and budgeting could be implemented to add value to each school; and began investigation into the capabilities of administrative systems to facilitate the allocation of expenses to schools and programs.
Year 3: Finalize structures within Kuali, budget those structures, and begin using the structures to appropriately capture allocable costs. Finalize allocation processes within administrative systems. Design management reports that can drill down from the Institutional level to the School level to the Program level, each showing the appropriate revenues, direct expenses, and allocated expenses.
Goal I2
A business and operational enhancement initiative will be established at Stevens.
OWNERS: VICE PRESIDENT LOUIS MAYER AND VICE PRESIDENT MARK SAMOLEWICZ
Stevens has retained the firm Howard Teibel & Associates who began work with the Stevens Workday HCM team on change management initiatives for processes involved with the new system. In addition to process changes across the campus, this includes designing the “future state” of central human resource processes, as well as the future organizational structure for the department of Human Resources.
Year 3: Continue designing the future state of Human Resources and its processes. This first operational enhancement initiative will result in an Organizational Development and Training function in the Division of Human Resources, which will continue its organizational development and training within other departments at the Institute.
Goal I3 (Augmented)
We will have an information technology enterprise that is an enabler for our research and educational missions, including the deployment of a Virtualized Learning Environment to support students’ access to powerful and specialized engineering applications from their own computers and mobile devices, support of academic online and digital learning initiatives, and the modernization of the University’s Data Center, to support enhanced information systems and network infrastructure in academics, administrative operations, and research.
OWNER: VICE PRESIDENT DAVID DODD
(Goal initiated in Year 2.) Significant progress includes the following: The Unified Communications and Collaboration Environment (UCCE) will provide Stevens with a completely new and enhanced network; the project is well underway. Since Spring 2014, new fiber and copper infrastructure has been installed; new network electronics have replaced aging devices; high speed wireless access points have been deployed replacing the older ones and expanding the number by 300 percent; and new security systems are being deployed. The Virtualized Learning Environment (VLE) was constructed and piloted, with over 500 students utilizing the VLE for SolidWorks in Engineering Graphics in Fall 2014 and in 14 sections taught by five faculty members. This includes online storage of students’ course materials in a new private cloud.Work has begun to update the Stevens Data Center that hosts all on-campus academic, administrative, and research systems. This project will continue through the 2014-15 fiscal year, with new electrical service, uninterruptable power systems, water cooling, and backup power generation to significantly increase capability, capacity, and reliability. Slate, the student recruitment / CRM system is now in production supporting both graduate and undergraduate student recruitment. Slate will be significantly upgraded in the 2014-15 academic year.The Workday Human Capital Management / Payroll (HCM/P) system is scheduled to go live in April 2015. This is a fully integrated system that will replace seven disparate legacy systems. End-to-end testing is nearly complete for the new system, and parallel testing will begin in January 2015.Canvas, a robust and leading-edge course management system (CMS) to support teaching and learning with technology, has been acquired and the project to migrate all current faculty users from Moodle to Canvas is nearly complete. Beginning in the Spring 2015, all courses will have a Canvas shell to support expanded use of technology in teaching and learning at Stevens. Stevens is one of only nine schools in the nation participating in a collaborative program with Workday to develop a new student information system. This project, including design and product development, is well underway and implementation is scheduled to be completed in 2016-17.
Year 3: Launch the Workday HCM/P system and migrate campus users and functions to the new system; initiate Phase II of the UCCE project, including external wireless networking to extend coverage, and a new VOIP/unified communication system; complete Year 2 of the Workday Student project; implement Phase I of a new security camera system to further safeguard members of the Stevens community; significantly expand and continue piloting the VLE to other academic programs and courses, including additional platforms, software, and capabilities of the system.
Goal I3-A (New)
Consistent with Stevens’ historical leadership as a pioneer in use of information technology in instruction, Stevens will identify, deploy and implement state-of-the-art IT systems to increase effectiveness and efficiency for administrative functions across the University, in financial systems, alumni and development, communications and marketing, human resources, admissions, student information/student services, facilities management, and other areas of university operations.
OWNER: VICE PRESIDENT DAVID DODD
(Goal initiated in Year 2.)A number of innovative IT initiatives were launched in Year 2, including the Virtual Learning Environment (VLE), among the most advanced uses of graphics-accelerated and 3D virtualization technology in higher education. Stevens is also a member of a select group of universities co-developing a transformational new student information system, Workday Student. This system is being developed from the ground-up and is based on web and mobile technology at its core. Renovation of the Stevens Data Center will integrate innovative and cost-effective techniques and strategies to support a growing research presence at Stevens involving data-driven research activities.
Year 3: Expansion and enhancements of VLE; continued development and collaboration on Workday Student system; and completion of the Data Center project, establishing far greater capabilities for systems and communications resiliency and significant expansion of high performance computing capabilities to support the Stevens research enterprise.
Goal I4
Stevens’ finances will improve to the point that the university will have sufficient liquidity to weather short-term adverse financial conditions, from a baseline of 0.2 in 2012 to a target of 1.0 by 2022.
OWNER: VICE PRESIDENT LOUIS MAYER
The liquidity index measures whether the university has sufficient cash and liquid assets to cover a portion of its annual total operating expenses. A threshold value of 1.0 indicates that the university could cover approximately three months of its annual operating expenses. The historical June 30th balances for this metric are:
2012: 0.20
2013: 0.36
2014: 0.55
Additional indices related to the university's financial health follow:The net operating revenue ratio indicates whether the university is living within its means. Two percent is considered a reasonable amount to achieve on an annual basis. The historical June 30th balances for this metric are:
2012: 0.93%
2013: 2.0%
2014: 4.98%
The return on net assets percentage indicates if the university is financially better off than the previous year. Four percent is considered a reasonable amount to achieve on an annual basis. The historical June 30th balances for this metric are:
2012: 1.54%
2013: 18.70%
2014: 15.10%
The viability ratio measures the availability of the university's expendable net assets to cover its long-term debt. The threshold value is to have 2.0 times its debt in its expendable net assets. The historical June 30th balances for this metric are:
2012: 0.389
2013: 1.226
2014: 1.602
The primary reserve ratio measures whether the university has sufficient expendable net assets to cover a portion of its annual total operating expense. The threshold value is to be able to cover 0.4 of its annual total operating expense with existing expendable net assets. The historical June 30th balances for this metric are:
2012: 0.171
2013: 0.508
2014: 0.625
The composite financial index is a weighted calculation of the first four metrics into a single measure of overall financial health. A threshold value of 3.0 is to be considered as the minimal acceptable financial health. The historical June 30th balances for this metric are:
2012: 1.06
2013: 4.52
2014: 5.21
Year 3: Continue.
Goal I5
Stevens will construct a university center that will function as the heart of the university and a hub of student, faculty, staff and visitor interactions.
OWNER: VICE PRESIDENT ROBERT MAFFIA
A university center is one of the key needs identified to accommodate enrollment growth, along with additional academic and residential space. The University Center is now in preliminary design, and financial planning for this facility has begun.
Year 3: Continue planning; develop fundraising package.
Goal I5-A (New)
A Campus Master Plan, identifying the long-term vision to accommodate Stevens’ growth initiatives described in the Strategic Plan, will be developed and enacted. The Master Plan will address instructional and research space needs, student life and athletic needs, student housing, and associated administrative space needs related to a 60 percent and 30 percent growth in our undergraduate and graduate student populations, respectively, along with growth of faculty, research, and student services. Initial priorities are an Academic Gateway Complex creating a new south entrance to the campus, state-of-the-art laboratories, smart classrooms, conference rooms, collaboration space, and a visually stunning and welcoming pedestrian plaza, as well as a University Center that will function as the hub of student, faculty, staff, and visitor interactions.
OWNER: VICE PRESIDENT ROBERT MAFFIA
A Campus Master Plan, identifying the long-term vision to accommodate Stevens’ growth initiatives described in the Strategic Plan, will be developed and enacted. The Master Plan will address instructional and research space needs, student life and athletic needs, student housing, and associated administrative space needs related to a 60 percent and 30 percent growth in our undergraduate and graduate student populations, respectively, along with growth of faculty, research, and student services. Initial priorities are an Academic Gateway Complex creating a new south entrance to the campus, state-of-the-art laboratories, smart classrooms, conference rooms, collaboration space, and a visually stunning and welcoming pedestrian plaza, as well as a University Center that will function as the hub of student, faculty, staff, and visitor interactions.
Year 3: Continue to refine Master Plan.
Goal I5-B (New)
The physical infrastructure of Stevens, inclusive of all new and existing academic, student-oriented, and administrative buildings, as well as the campus environment, waterfront properties and green space, will symbolize excellence commensurate with a premier, student-centric, technological research university in one of the world’s most desirable locations.
OWNER: VICE PRESIDENT ROBERT MAFFIA
Fifteen classrooms were renovated or created (McLean 217 and 218) in Year 2. Work was also completed on a new study area on the second floor of S.C. Williams Library. In addition, efforts to beautify the campus have resulted in a more colorful and robust landscape and a repaving of Babbio Drive, Stanley Drive, the Palmer Circle, 8th Street down to Castle Point Terrace, the Hoxie House driveway, the Howe and Ruesterholz Admissions Center parking lots, and the walkway on the east side of Palmer Hall. Lastly, the new Virginia and Kevin Ruesterholz Admissions Center was completed, providing a beautiful and welcoming environment for prospective students, and enabling a more efficient use of space and creating room for growth in the Wesley J. Howe Center.
Year 3: Continue renovations and improvements across the campus, including additional classrooms, further enhancements to student study space, and continued work on the Griffith Building engineering design lab.
Goal I5-C (New)
Stevens will be a model of sustainability, through innovative energy initiatives, policies and programs to promote use of biodegradable materials and recycling, and smart transportation initiatives to reduce use of cars.
OWNER: VICE PRESIDENT ROBERT MAFFIA
(Goal initiated in Year 2.)A host of energy initiatives have been implemented to reduce Stevens’ carbon footprint and bring the university closer to its goal of being an energy leader in higher education. Adding to prior energy initiatives of use of cogeneration combined heat and power plant, as well as extensive use of solar energy, the following initiatives have been completed: replacement of inefficient 150W incandescent lamps with long lasting, high efficiency LED in the Babbio Garage; a replacement of the site lighting fixtures with high efficiency LED; and a replacement of inefficient fluorescent lamps in Humphreys Hall with LED. In addition, occupancy sensors which permit lights to be on only when a space is occupied, already installed in EAS, Carnegie, and Morton, are now being installed in other campus buildings. The inefficient high pressure heating plant will be fully decommissioned by April 2015 and replaced with individual high efficiency boilers in each building. A high efficiency gas-fired chiller has also replaced an inefficient steam drive unit in the Babbio Building, enabling the campus to not operate the high pressure steam boiler during the summer for the first time. Transportation initiatives are also contributing to a greener campus. Two shuttle bus routes for rail commuters were added, decreasing drive-alone visits to campus and increasing rail ridership to Hoboken Terminal. We have also added bicycle racks in locations where volume was heavy. A traffic demand management program has been developed to further reduce driving by introducing incentive programs to carpool, car share, bike or take public transportation to campus.
Year 3: Initiate the installation of a frequency regulation battery, which will enable energy to be drawn from the battery during peak demand, reducing electric demand charges and resulting in rebates from our energy supply company. A partnership with Constellation Energy will provide the battery and installation at no cost to Stevens. Continue energy initiatives.