MSNFP 6216 Assessment 4:Preparing and Managing a Capital Budget

MSNFP 6216 Assessment 4:Preparing and Managing a Capital Budget.

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Prepare an 4–5 page capital budget for a major capital acquisition.

Note: Complete the assessments in this course in the order in which they are presented.

SHOW LESS

In today’s health care environment, the focus on major purchases, as part of the capital budget, has emphasized the need for newer and better technology. Although the need to invest in capital equipment and technology has been ongoing, the nursing workforce must also have a safe and pleasant work environment.

This assessment provides an opportunity for you develop a capital budget for a major facility improvement that will benefit patients, nurses, and the organization.

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

  • Competency 3: Develop a capital budget.
    • Describe a capital acquisition.
    • Prepare a capital budget.
    • Describe the process for calculating costs.
  • Competency 4: Determine the equipment and services needed to maintain seamless patient or client care.
    • Justify the need for a capital acquisition.
  • Competency 5: Apply financial principles to a strategic plan for achieving organizational goals and fiscal success.
    • Present a plan for budget management.
    • Explain how a capital acquisition will affect the financial health of the organization.
  • Competency 6: Communicate effectively with diverse audiences, in an appropriate form and style, consistent with applicable organizational, professional, and scholarly standards.
    • Present budget data and information clearly and accurately.
    • Integrate relevant and credible sources of evidence to support your budget data and information, correctly formatting citations and references using APA style.
  • Note: Complete the assessments in this course in the order in which they are presented.

    Preparation

    You are the unit manager of a 50-bed, step-down unit, and it is time for you to prepare your annual capital budget. You have seen a significant turnover in your nursing staff in the past three years; a review of exit interviews and patient surveys indicates low nurse satisfaction, poor morale, and complaints of an antiquated and depressing work environment. You have researched the impact of a positive working environment on staff productivity and morale and decided to request a renovation of the nurses’ lounge as the main purchase in your capital budget. You will present your request as a quality improvement investment.Note: Remember that you can submit all of, or a portion of, your draft to Smarthinking for feedback, before you submit the final version for this assessment. However, be mindful of the turnaround time of 24–48 hours for receiving feedback, if you plan on using this free service.

    Requirements

    Note: The requirements outlined below correspond to the grading criteria in the assessment scoring guide. Be sure that your budget addresses each point, at a minimum. You may also want to read the Guiding Questions: Preparing and Managing a Capital Budget [DOCX], linked in the Resources under the Suggested Resources heading, to better understand how each criterion will be assessed.Prepare a capital budget for a facility renovation. Assemble your budget figures in a table, using a format of your choice. You may use either Microsoft Word or Excel to create your budget table.Note: You may use the budget in the Vila Health: Preparing a Capital Budget multimedia exercise from the Resources as an example of how you might format your table. You may also use a budget format used in your organization or a format you find in any of the course resources or on the Internet.

    • Describe the capital acquisition.
    • Justify the need for the capital acquisition.
    • Prepare the capital budget.
    • Describe the process for calculating costs.
    • Present a plan for budget management.
    • Explain how the capital acquisition will affect the financial health of the organization.
    • Present budget data and information clearly and accurately.
    • Integrate relevant and credible sources of evidence to support your budget data and information, correctly formatting citations and references using current APA style.

    Additional Requirements

    If you used Microsoft Excel to create your budget table, submit the Excel file along with your budget narrative. You may also add the Excel file to your Word document as an embedded object.Format your budget using APA style.

    • Use the APA Style Paper Template [DOCX], linked in the Resources under the Required Resources heading. An APA tutorial is also provided in the Resources to help you in writing and formatting your budget. Be sure to include:
      • An APA-formatted title page and reference page. An abstract is not required.
      • A minimum of five properly formatted citations and references.
    • Your budget should be 4–5 pages in length, not including the title page and reference page.

MSNFP 6216 Assessment 4:Preparing and Managing a Capital Budget

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