A suggested framework for cost management in higher education institutions in the Sultanate of Oman in light of recent trends

The economic environment has seen many changes that created the need for higher education institutions to provide high-quality educational services at the lowest possible cost, whilst at the same time implementing cost reduction strategies (cost management). This has encouraged educational institutions to enhance their cost management practices through finding new methods for achieving more accurate identification of costs and offering detailed information suited to management needs, as well as through creating new monitoring techniques to maintain their resources. This is expected to enable higher education institutions to face the current challenges and enhance their competitiveness. In light of the current financial challenges affecting the quality and competitiveness of higher education institutions in Oman, and consistent with ongoing strategic development plans in the Sultanate, this project aims to propose a framework for cost management in higher education institutions in the Sultanate of Oman in light on the new trends in this filed. The study will adopt the descriptive approach to explore the status quo of cost management practices in higher education institutions in Oman and suggest possible strategies for improvement.