Design Process and Techniques

I have come across this scenario and I am interested to learn from the UX professionals here about the proper technique and process:

You are hired by a University to investigate issues with their website, and propose a new design that will improve the overall user experience. This University has a student body of around 15,000 students (at under and post-graduate levels) spread across 15 faculties. It also employs 1,500 academic members of staff. Most students/staff complain that the site is not usable and finding information is not easy.

Ignoring any budgetary constraints, what plan of action would you adopt to tackle this request?....

what would be your:

  1. the process you would follow as well as
  2. the techniques you would adopt.

Thank you