The effect of unpredictable resources on organizational performance in higher education was examined, along with whether some management strategies are more successful under conditions of relative predictability or unpredictability. Perceptions of administrators about institutional resources and performance were studied, along with the effects of institutional structure and three types of strategies: (1) a linear model based on methodical, sequential planning that is oriented to accomplishing stated goals; (2) an adaptive strategy involving assessment of the external environment and the capacities of the school, and adjustment of either or both; and (3) an interpretive strategy that is based on the idea that the organization is a social contract among individuals who freely agree to cooperate. Dimensions of perceived organizational performance include investor confidence, leader credibility, faculty quality, and ability to get resources. The study involved 474 administrators who perceived high levels of unpredictability in revenues and enrollments and 209 administrators who perceived low levels of unpredictability. The results suggest that administrators' perceptions of resource unpredictability are unrelated to perceptions of institutional performance. Strategies that seemed to be linked to performance were the linear and interpretive strategic models. References, tables, and a list of variables are appended. (SW)