Information and communications technologies are radically changing the way that teaching and learning activities are organised and delivered within higher education (HE) institutions. A wide range of technologies is being deployed in quite complex and interactive ways, including virtual learning environments (VLEs), mobile communication technologies, digital libraries and on-line resources. A key challenge for university leaders is to maximise the benefits derived from these investments for all institutional stakeholders (not just teachers and learners), while at the same time minimising cost and risk (Ford et al. 1996). This requires not only co-ordinated strategies for change management but also new approaches to decision making and to the evaluation of changes resulting from these decisions. Recognising the planning and management of e-learning requires new approaches and methodologies, the Joint Information Systems Committee (JISC) of the Funding Councils commissioned a number of projects designed to support institutions. This paper focuses on two of these: (1) "The Risks Associated with E-learning Investments in HE and FE"; and (2) "The Insight Cost/Benefit Project". One of the outcomes of these projects has been a set of toolkits designed to support institutional managers during two key phases of the strategic management of e-learning--strategy development and the evaluation and prioritisation of investments. (Contains 2 figures.)