Abstract

Budgeting management in higher education institutions is increasingly challenged by uncertainty arising from complex project portfolios, policy volatility, procurement risks, and fragmented coordination among instructors, financial staff, and administrators. Although risk management has been extensively discussed in corporate governance and infrastructure delivery, its systematic integration into university project budgeting remains uneven, particularly in contexts where budgeting is embedded in hierarchical approval procedures and static monitoring routines. This study develops and validates a Dual-Drive risk governance model for project budget management through a sequential exploratory mixed-methods case study of Hubei Engineering University, China. Questionnaire data from 337 university staff members were used to diagnose current practices across four dimensions: risk identification, risk assessment, risk response planning, and risk monitoring and control. Semi-structured interviews and focus group discussions were then conducted to develop context-specific strategies through SWOT-TOWS analysis, followed by validation from ten senior university leaders. The findings show that risk monitoring and control is the weakest part of the current system because information remains fragmented, feedback is delayed, and cross-departmental coordination is limited. In response, the study proposes four interrelated strategies: a risk information platform, tiered response protocols, organizational structure adjustment through a risk governance committee, and third-party auditing. Together, these strategies constitute a technology-plus-institution governance framework that strengthens budgeting resilience, transparency, accountability, and organizational learning in higher education project governance.

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