NURS-FPX 6216 Assessment 3: Budget Negotiations and Communication | Homework Solution

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NURS-FPX 6216 Assessment 3 Instructions: Budget Negotiations and Communication

Write a 3-5 page executive summary that justifies the operating budget you prepared in Assessment 2.

Introduction

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

Negotiating budgets and communicating financial needs to stakeholders are vital skills for nurse leaders. Given today’s numerous constraints on funding and a highly competitive environment, the ability to win support for your budget proposals hinges on being able to present a compelling argument based on well-documented needs, accurate financial information, and a justifiable business case.

This assessment provides an opportunity for you to examine the mission and goals of a health care organization, in order to justify a budget proposal. A persuasive argument requires thoughtful justification and rationale for the expenses required to support your proposal. Budget Negotiations and Communication A proposal that supports the organization’s mission and goals strengthens your argument and is much more likely to get you what you need.

In every health care organization, dollars are scarce and the budget process is carefully scrutinized at every level. Nurse leaders must be business-savvy. They must be able to make a compelling case for why every budget line item and every dollar on a budget supports the mission and goals of the unit and the organization.

This means that nurse leaders must be able to think in terms of the business of health care and be able to present a business proposal or plan with thorough and thoughtful justification and rationale for expenses. The business plan should present accurate, factual data and costs, and should also be concise and clearly organized.

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

Preparation

The financial department has reviewed your unit’s operating budget and has asked you to submit an executive summary that provides support for your budget proposal. Budget Negotiations and Communication Your challenge is to position your unit favorably within an environment of competing demands for limited funding.

As you prepare to complete this assessment, you may want to think about other related issues to deepen your understanding or broaden your viewpoint. You are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of your professional community. Note that these questions are for your own development and exploration and do not need to be completed or submitted as part of your assessment.

Consider the operating budget you developed in Assessment 2.

How would you justify your budget to executive leaders?

How would you link your budget to the organization’s goals and objectives? How would you propose to meet productivity goals while staying within budget? Budget Negotiations and Communication

The following resources are required to complete the assessment.

APA Style Paper Tutorial [DOCX]. Use this tutorial for your executive summary.

Requirements

Note: The following requirements correspond to the grading criteria in the assessment scoring guide. Be sure that your executive summary addresses each point, at a minimum. You may also want to read the Guiding Questions: Budget Negotiations and Communication [DOCX] to better understand how each criterion will be assessed.

Write an executive summary of the operating budget you prepared in Assessment 2 that makes a compelling case for why funds should be allocated for your budget.

Outline a strategic plan that ensures profitability and fiscal success.

Present a plan to meet staff productivity goals, while staying within budget parameters. Justify equipment and service costs.

Analyze department, unit, or project alignment with the organization’s mission and goals. Write clearly and concisely, using correct grammar and mechanics. Budget Negotiations and Communication

Integrate relevant and credible sources of evidence to support your assertions, correctly formatting citations and references using current APA style.

Additional Requirements

Format your summary using APA style.

Use the APA Style Paper Tutorial [DOCX] to help you in writing and formatting your summary. Be sure to include:

A title page and reference page. An abstract is not required. Appropriate section headings.

A minimum of five properly formatted citations and references.

Your summary should be 3–5 pages in length, not including the title page and reference page.

Portfolio Prompt: You may choose to save this learning activity to your ePortfolio.

Competencies Measured

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

Competency 1: Design an operating budget that incorporates variances or discretionary spending.

Outline a strategic plan that ensures profitability and fiscal success.

Competency 2: Develop a plan for managing the labor force, within the parameters of the budget and productivity.

Present a plan to meet staff productivity goals, while staying within budget parameters.

Competency 4: Determine the equipment and services needed to maintain seamless patient or client care.

Justify equipment and service costs.

Competency 5: Apply financial principles to a strategic plan for achieving organizational goals and fiscal success.

Analyze department, unit, or project alignment with an organization’s mission and goals.

Competency 6: Communicate effectively with diverse audiences, in an appropriate form and style, consistent with applicable organizational, professional, and scholarly standards. Budget Negotiations and Communication

Write clearly and concisely, using correct grammar and mechanics.

Integrate relevant and credible sources of evidence to support your assertions, correctly formatting citations and references using APA style.

SCORING GUIDE

Use the scoring guide to understand how your assessment will be evaluated.

Guiding Questions

Budget Negotiations and Communication

This document is designed to give you questions to consider and additional guidance to help you successfully complete the Budget Negotiations and Communication assessment. You may find it useful to use this document as a pre-writing exercise, an outlining tool, or as a final check to ensure that you have sufficiently addressed all the grading criteria for this assessment. This document is a resource to help you complete the assessment. Do not turn in this document as your assessment submission.

Executive Summary

Write an executive summary of the operating budget you designed in Assessment 2 that makes a compelling case for why funds should be allocated for your budget.

Outline a strategic plan that ensures profitability and fiscal success.

• Does your executive summary begin with a strong first paragraph that captures the reader’s attention and compels her to read through the rest of the document?
• Is your plan truly strategic, rather than just an operational or business plan?
• Have you captured the key elements of your plan that you wish to communicate to executive leaders?
• Have you identified responsibilities for implementing the plan? Budget Negotiations and Communication
• What data or case studies support your plan?

Present a plan to meet staff productivity goals, while staying within budget parameters.

• Does your plan address the major factors affecting staffing and productivity?
• How will proposed staffing levels affect the attainment of organizational goals?
• What staffing metrics or case studies support your plan?

Justify equipment and service costs.

• How will the equipment and services contribute to organizational goals?
• How did you calculate costs? Get Community Health Concepts Homework Help!!
• What information can be gathered from stakeholders to ensure that you maximize available resources?

Analyze department, unit, or project alignment with the organization’s mission and goals.

• Does your analysis clearly communicate these linkages?
• What evidence do you have to support your analysis?

Write clearly and concisely, using correct grammar and mechanics.

• Express your main points and conclusions coherently.
• Proofread your writing to minimize errors that could distract readers and make it more difficult to focus on the substance of your summary. Budget Negotiations and Communication

Integrate relevant and credible sources of evidence to support your assertions, correctly formatting citations and references using APA style.

• Integrate relevant evidence from at least five scholarly or professional sources.

Submission Reminders

• Have you effectively outlined a strategic plan that ensures profitability and fiscal success?
• Have you presented your plan for meeting staff productivity goals, while staying within budget parameters?
• Have you provided rational and compelling justification for the costs of equipment and services?
• Have you analyzed the alignment of your department, unit, or project with the organization’s mission and goals? Budget Negotiations and Communication
• Is your summary well-supported by at least five sources of credible evidence?
• Is your summary properly formatted and 3–5 pages in length, not including the title page and reference page?
• Have you proofread your writing to minimize errors that could distract the reader and make it more difficult to focus on the substance of your summary?

Budget Negotiations and Communication Scoring Guide