Financial Optimization
Through the Financial Optimization initiative, the goal is to strengthen RISD’s long-term financial sustainability, maximize the use of our limited funds, and build new and expanded revenue streams that strengthen our financial base and increase resources to support our mission.
The initial work was led by a core committee of students, faculty, and staff, and entailed:
- Examining and optimizing our current use of space, one of our largest assets.
- Reviewing the efficacy of RISD’s existing business model in our changed world.
- Analysis of RISD’s historical spending, including identifying and quantifying longstanding, complex and inefficient administrative practices and structures.
- Exploring pathways to greater revenue diversification through growth of existing programs or creation of new programs.
In late 2024, the committee provided President Williams with recommendations that included changes to the current model and suggestions for alternative models.
Action plan
Now through 2027, RISD is working to implement the following recommendations, some of which are already underway:
Comprehensive curricular review; co-taught interdisciplinary courses.
Establish guidelines and processes for interdisciplinary courses, cross-listing, and degree substitution improvements.
Explore requiring interdisciplinary courses.
Foster cross-department research collaborations.
Reconsider first-year declaration (maintain student agency).
Shared digital output center (3D printers/laser cutters); centralize costs and staffing.
Designate centralized shared spaces, revise template agreements, track lessons learned and iterate accordingly.
Standardize digital fabrication equipment, training/maintenance; automated badging.
Develop a vision for the use of campus space, including policies and a space committee staffed by faculty.
Conduct regular space audits and update inventory.
Improve technology systems to support space management.
Future and Long-Term Considerations
The following actions are under review for implementation as part of the strategic planning process.
- Leverage external funding for specialty labs.
- Redesign course scheduling grid (longer day, common breaks, distribute Mon/Fri, stacking).
- Address challenges related to the declaration of majors.
Resources and related links
More details can be found in the Financial Optimization Committee Executive Summary (RISD credentials are required to access).
We invite you to share your thoughts at any time via email to strategy@risd.edu.