Calculation has emerged as an imperative practice, providing universities with one of their most effective strategies for self-governance. This norm has significantly influenced university decisions on the availability of places across different disciplines. Utilising the Foucauldian conceptual tool 'technology of government', this paper delves into the nuances of self-governance under the Australian Demand-Driven Funding System, which allows universities to admit as many undergraduate students as they desire. This study is based on semi-structured interviews with key policymakers from government and university sectors, and document analysis of government reports, ministerial speeches, and parliamentary Hansard. Two arguments are made in this paper. First, the Demand-Driven Funding System marks a transformation in governing modes, moving from a totalising towards an individualising one. It makes universities autonomous while holding them responsible for their allocation decisions. Second, it argues that the ways universities govern themselves for risk management are driven by calculation processes and practices, where heterogeneous information is formulated into quantifiable data and informative tables to prevent financial losses.