south nsg6620 week 4 discussion (dq1+dq2) latest 2017 october

Week 4 – Assignment 1
Discussion

Discussion Question
1: Strategies for Establishing Operational Budgets

An operational budget is the plan for an organization or
unit for daily operating expenses. The operational budget is very similar to
how one manages a personal home budget but on a grander scale. For example,
there is a balance between accounts receivable and accounts payable, and then
there is either a surplus or deficit at the end of the budget period. Most
budget periods are a fiscal year or a calendar year.

The unit operating budget is the most critical budget in
which unit managers must be involved and have the most control over. Extensive
information is needed to prepare the operational budget. For example, the
operational budget typically requires information related to workload budgets
with activity reports, units of service, and workload calculations like HPPD;
expense budgets for personnel, staffing, and supplies equipment; the overhead
budget; and the revenue budget. Nurses in the unit are often part of the
operational budget to examine, or be aware of, weekly or monthly budget
variances. This helps the unit function with a positive versus a negative
revenue stream.

Using the readings for the week, the South University Online
Library, and the Internet, respond to the following:

Describe at least two strategies for establishing
operational budgets.

Examine the advantages and disadvantages of using each
strategy.

Explain the strategies your nurse manager or CNO uses to
gather and secure the most timely and relevant information to shape future
operating budgets.

Identify two challenges the nurse manager or CNO faces with
this task.

Examine implications for the nurse manager or CNO when the
unit operating budget is running in the “red” or has numerous negative monthly
variances.

Comment on the postings of at least two peers.

Evaluation Criteria:

Described at least two strategies for establishing
operational budgets.

Examined the advantages and disadvantages of using each
strategy.

Explained the strategies your nurse manager or CNO uses to
gather and secure the most timely and relevant information to shape future
operating budgets.

Identified two challenges the nurse manager or CNO faces
with this task.

Examined implications for the nurse manager or CNO when the
unit operating budget is running in the “red” or has numerous negative monthly
variances.

Justified your answers with appropriate research and
reasoning.Commented on the postings of at least two peers.

DQ2

Discussion Question
2: Strategies for Establishing an FTE Budget

Budgeting is a critical and essential component of nursing
and patient care. Without proper support for nurses to provide patient-centered
care, the organizational mission and goals will not be met.

Full-time equivalent (FTE) measures the number of employees
working in an organization, assuming they all work on a full-time basis. It
measures each employee’s involvement in the organization. Unit managers and
CNOs must have fundamental skills and competencies to establish an FTE budget.

Using the readings for the week, the South University Online
Library, and the Internet, respond to the following:

Describe various strategies used for establishing an FTE
budget.

Examine the advantages and disadvantages of each strategy.

Discuss how the unit manager or CNO elicits input into the
FTE budget.

Describe one software program utilized by the unit manager
or CNO to formulate an FTE budget.

Identify the timeline a nurse manager or CNO would utilize
to plan the development of an FTE budget.

Comment on the postings of at least two peers.

Evaluation Criteria:

Described various strategies used for establishing an FTE
budget.

Examined the advantages and disadvantages of using each
strategy.

Discussed how the unit manager or CNO elicits input into the
FTE budget.

Described one software program utilized by the unit manager
or CNO to formulate an FTE budget.

Identified the timeline a nurse manager or CNO would utilize
to plan the development of an FTE budget.

Justified your answers with appropriate research and
reasoning.

Commented on the postings of at least two peers.

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