What metrics would you use to evaluate Strategic Education's FlexPath learning model?

Introduction

Evaluating Strategic Education's FlexPath learning model requires a comprehensive approach to product success metrics. To address this challenge effectively, I'll follow a structured framework that covers core metrics, supporting indicators, and risk factors while considering all key stakeholders. This approach will allow us to gain a holistic view of the FlexPath model's performance and impact.

Step 1

Product Context

Strategic Education's FlexPath learning model is an innovative approach to online education that allows students to progress through their degree programs at their own pace. Unlike traditional time-based models, FlexPath focuses on competency-based learning, where students advance by demonstrating mastery of skills and knowledge rather than completing a set number of credit hours.

Key stakeholders include:

1. Students: Seeking flexible, affordable education that fits their schedules
2. Faculty: Responsible for assessing student competencies and providing guidance
3. Employers: Looking for graduates with proven skills and knowledge
4. Accreditation bodies: Ensuring educational quality and standards are maintained
5. Strategic Education: Aiming to increase enrollment, retention, and revenue

User flow:

1. Enrollment: Students sign up for a FlexPath program
2. Assessment: Initial evaluation of student's existing knowledge and skills
3. Learning: Students engage with course materials and complete assignments
4. Demonstration: Students submit projects or take assessments to prove competency
5. Feedback: Faculty review submissions and provide guidance
6. Advancement: Upon demonstrating mastery, students move to the next course

FlexPath fits into Strategic Education's broader strategy of expanding access to higher education and addressing the needs of non-traditional students. It differentiates from competitors by offering true self-pacing and subscription-based pricing, unlike many other online programs that still adhere to semester-based schedules.

Product Lifecycle Stage: Growth - FlexPath is gaining traction but still has significant room for expansion and refinement. The model is attracting attention from both students and other educational institutions, indicating potential for further adoption and evolution.