In any case you'll want a static IP, either manually set or coming from DHCP according to MAC address. The NVR/VMS you'll be using will need to know the IP, and if it's dynamic for some reason, you'll end up spending a lot of time at the NVR/VMS changing the IPs.
We have big customers with hundreds/thousands of cameras around the country, this network is countrywide managed with VLANs, it's a nice way to keep track of which site the devices are on, and incase you need to connect to say mall 1 camera 194, you instantly know that it is for example 10.10.1.194. This network is managed by customers IT. If the security system was on a completely separated network, connecting to it and managing it remotely would be pain.
So in your University case, i'd have a chat with the people that manage the current network and ask what they think fits in their system. If they're willing to take the video surveillance system in their network, that makes your job a LOT easier, when all you do is provide them with device MAC address and install the device in place with DHCP.
Dear mkkoskin, thank you for the detailed response again. Our university wide implementation comprises of 2,500 IP cameras, and our ITC department (who manages the university network) has agreed to take the video surveillance system in their network. However, we will use separate Video VLAN for each building.
Based on this discussion, I will put forward the suggestion of assigning IP addresses to the cameras using the device MAC address with the help of DHCP.