NURS 6241: STRATEGIC PLANNING IN HEALTH CARE ORGANIZATIONS - Final Complete Project

Budgeting and Timeline Tools for Green Hills Health Center

NURS 6241: STRATEGIC PLANNING IN HEALTH CARE ORGANIZATIONS

Budgeting is an essential part of the project management process that defines the sources of funds and its utilization. It is a process that is carried out to not only identify sources of funds but also break down the fundamentals of where the money will be spent, that is, allocation. This paper highlights the key areas in this project budgeting as well as the ideal tool in timeline formation for the Green Hills Health System Project. In addition to the budget there is a need to link the budget to the timeline of the project. This ensures that the budget fits within the time schedule of the project and aligns with the necessary processes.

Internal Financial Resources

In the strategic plan there is the need to educate the nurses on the latest forms of technologies in care delivery. According to Lavin, Harper, and Barr (2015), it has been previously established that charging the staff with personal development works more efficiently as it promotes competition. Internal resources are those that the staff will generate. The total of this is projected $10,000 of the $21,650. This will consist of the self-funding and sponsorship that will be generated by the healthcare facility.

External Financial Resources

These do not have to be provided for by the care facility as there can be the engagement of external donors due to them being expensive. As there is a possibility of policy making and changing in the project, there is the need to get funds from the government under the ministry of health care. These sources of funds will ensure that there are adequate financial resources to promote knowledge acquisition (Goetsch & Davis, 2014). The external sources of funds are projected at $11,650 of the $21,650.

Budget Breakdown

Project design is projected at $9,005 with smaller breakdowns to complement the overall budget. These comprise of developing of functional specifications, system architecture, project specification, design specification and acceptance test plan. Project delivery is projected at $4,600. This is broken down as implementation of training, performance acceptance test, provision of project support and training of nurses. The last section of the budget is assigned to miscellaneous expenses that stand at $ 4,500.

Budgeting tool employed in financial analysis

For this specific project the tools used were quantitative as well as qualitative forecasting methods. Under the qualitative methods, critical information such as the customer tastes and preferences would be collected. In the study, there could be the use of surveys from the targeted patients and hospital personnel to establish the need and value of the project. The other technique for gathering information would be the use of quantitative data collected through the number of clients that the facility is currently serving. According to Eriksson & Kovalainen (2015), the use of these two forecasting methods not only offers the company with an insight of the client's preferred services and the technological gap identification thus magnifying the project need.

Scheduling tool for this project was the Gantt chart as the preferred tool. This tool helps in the organization of thoughts. It organizes a project into parts which are better to understand and assess as opposed to outlining them manually through regular spreadsheets. The second reason for the use of Gantt chart is that it gives a visual angle to elements of planning. In most cases, the visual perspective of work is better placed at understanding than the theoretical aspect of it. I selected the Gantt chart as it aids in giving a realistic timeframe to work. When the work can be envisioned as in the case of the Gantt chart one sets a timeline that does not overly overlap the events. Thus it offers the practical aspect of planning. Finally, I selected to use the Gantt chart as it is appropriate to be used as an objective and target reminder at all times. Gantt charts are handy in planning and assessing work progress in all the fields that they are used (Milošević, 2003). For that reason, it also a highly recommended tool that should be employed by the project manager at all times.

How the Timeline Can Allow Leeway for Variance

Variance in this project is made possible with tentative and actual budgets and timelines. The variance is made possible by allocating longer and realistic timeline that makes room for delays and changes within the budget. The value of this is to guarantee meeting deadlines and timely completion of project.

In conclusion, the budget and the timeline are a necessary part of project planning and implementation. Green Hills Healthcare System’s budget and timeline reflect a six month’s period and a $ 21,650 from project planning, implementation and evaluation. Finally, there is need for realistic timelines and budgeting for a project.

References

Eriksson, P., & Kovalainen, A. (2015). Qualitative and Quantitative methods in business research. Los Angeles : SAGE

Milošević, D. (2003). Project management toolbox: Tools and techniques for the practicing project manager. Hoboken, N.J: J. Wiley & Sons.