PPT on Operational Budget for a 20-bed nursing unit

PPT on Operational Budget for a 20-bed nursing unit

The purpose of this assignment is to create an operational budget presentation identifying key components of budgeting and possible capital purchases that may be required.
Scenario: You have been asked to create an operational budget for a 20-bed nursing unit and present it to the senior leaders of your organization.

Create a presentation of 10-12 slides, including comprehensive speaker notes that detail the budget.
Provide the key components of budgeting, including the cost of staff, activities, services, and supplies.
Identify and describe a relevant capital purchase this unit may require, including the need, the return on investment, benefits, etc.

Permalink: https://collepals.com/ppt-on-operation…bed-nursing-unit/

Use at least three references, including your textbook.

While APA style is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance.

 

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Operational Budget for a 20-bed nursing unit

Introduction

The operational budget for a 20-bed nursing unit is a key component of the overall financial planning process. It provides you with a detailed breakdown of all costs related to running your facility and ensures that you have a complete understanding of where your money is going each month.

What is an operational budget?

Operational budgeting is a planning and forecasting process that helps businesses plan their operations. The operational budget, which can be broken down into two parts:

• The first part of an operational budget is a forecast of income and expenses for the coming year. This will help you plan how much money you need to earn in order to cover all costs related to running your business during the next 12 months.

• The second part of an operational budget is how much money has been spent so far on various projects or products that were bought or created by your company during its past fiscal year (June 1st through May 31st).

Why is an operational budget important?

An operational budget is a tool that helps you manage your resources and get the most out of them. It’s not just about money, but also about allocating resources to where they’re needed most.

For example, if someone in your organization needs help with something, such as helping out in the office or organizing data files, they may need an additional resource (such as an assistant) or some other kind of support (like software). The operational budget can help you allocate those funds appropriately based on demand and need within an organization’s budgeting process

Setting the baseline

In order to establish a baseline, you’ll need to define the scope of your project. The scope includes an overview of all aspects of your business that will be affected by this endeavor. For example, if your project involves adding five new beds at the front desk, then it’s important to include how many nurses are currently working there and how often they’re used.

Once you’ve defined the scope of your project and established a budget for it (more on this later), it’s time to get down into detail about what exactly needs doing in preparation for opening day:

The initial budget cycle

The initial budget cycle is the time between when a budget is first created and when it is next revised. It’s also the most important phase of the budget process, as you’ll see in a moment.

When you create your first operational budget, you’re establishing where your money goes and how much can be spent on each activity or cost center within that area of operation (for example: nursing care). At this point, no one has any idea what they need to do with this information–you’re just brainstorming ideas for how best to allocate funds across multiple areas of interest.

The following section will give guidelines for creating an initial operational budget based on our sample organization’s needs:

The assessment phase

The assessment phase is the first part of your operational budgeting process. This phase helps you determine whether or not your nursing facility has enough resources to maintain its current level of operations and meet all needs.

The purpose of this phase is to:

• Determine if there are any areas that need improvement or expansion;

• Identify new or different services that will support existing ones; and,

• Develop an action plan for future improvements.

The budget visual aid

The budget is a visual aid that helps you to plan and control your budget. It’s also a tool to help you make decisions, communicate with others, monitor your progress and more.

The first step in using the budget is to create one for the nursing unit.

Takeaway:

The takeaway is the final section of your report, and it should summarize the key points. The goal is to be brief and concise so that readers can easily understand what they need to know. This means no more than a few paragraphs–no more!

Conclusion

As you can see, there are many aspects to a nursing facility budget. The key takeaway is that no two budgets will be the same and the process of setting one up is never-ending. Just make sure you understand what it means to “operationalize” your budget and how much time should be spent on each phase.