You can refer to this link for an elaborate answer then relate it to the university's setup;

http://www.elecdem.eu/media/universityofexeter/elecdem/pdfs/amsterdamwksp/Web_Content_Analysis_Rachel_Gibson.pdf

Well, your question is a bit ambiguous. A content analysis suggests you wish to know what information is available on the website. That can be useful, but my guess is (based on your question about the effectiveness) that you wish to know if people perceive it as useful, rather than what information is available on the website (since you already know that).

First off: effective can have a million meanings, try to avoid that word, or give a definition of it that really locks in what you mean by 'effective'.

I see three possible approaches to my interpretation of your question. The first one is to take a qualitative approach (which is easiest and perhaps also cheapest/fastest) is to simply interview people in a personal setting. Put them behind a laptop, give them the site and tell them to explain everything they see, interpret and read. Document it all and draw your conclusions.

The second approach could be a bit more detailed, but is more difficult and requires some eye-tracking equipment. Again, put the target group of the university behind a laptop and have them browse the website. Track their eyemovement, which tells you a lot about usability and what they instinctively see as important. Have them elaborate further on this in an interview.

The third and final is a bit underachieving in my opinion (for your research question) but will do if you're short for time. Just send out a questionnaire to (future) students and staff members and ask them about their opinion of the website.

Thanks for your answers.