"We are trying to make up these other elements by gaining cost efficiencies through our reengineering process and through overt fund-raising activities to better support graduate education"

In this quote, Charles Vest is attending to a strategic approach planned to compensate for certain deficiencies or gaps-- described as "other components"-- potentially related to resources, financing, or facilities which are critical for supporting graduate education. His statement encapsulates a dual-focused strategy aimed at enhancing funds and functional effectiveness.

To start with, the reference of "gaining expense performances through our reengineering procedure" recommends a thorough review and restructuring of existing processes within the institution. Reengineering typically involves seriously evaluating present treatments and workflows to determine ineffectiveness or waste. By doing so, the institution can enhance operations, reduce expenses, and redirect cost savings towards locations that need additional support, such as graduate education. This might, for instance, consist of optimizing administrative procedures, minimizing overhead, or carrying out technology that speeds up research and learning outcomes.

Secondly, Vest highlights "obvious fund-raising activities" as a parallel technique. This recommends targeted efforts to raise additional funds, likely through projects, donations, grants, or collaborations. "Overt" implies a transparent and possibly large-scale effort aimed at gathering financial support. Fundraising efforts could be directed particularly at alumni, business partners, humanitarian foundations, or governmental bodies, each of which may have a beneficial interest in the organization's mission and success.

The ultimate objective of these techniques is "to much better assistance graduate education", emphasizing a commitment to enhancing the student experience, resources, and chances available for graduate-level scholars. By resolving both cost structures and revenue streams, the organization aims to create a more sustainable financial model, guaranteeing that graduate programs are well-funded and able to maintain high standards of academic excellence. This shows a forward-thinking technique, recognizing that the vigor of graduate education is closely tied to how efficiently institutions manage and assign their resources in a competitive and ever-evolving academic landscape.