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Prepare a 4–5 page capital budget for a major capital acquisition. You are the u
Prepare a 4–5 page capital budget for a major capital acquisition. 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. 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. How would you approach the process of designing a capital budget? For example: What steps would you need to take? What resources would you access? Will you collaborate with other executives or staff? How will you tie the vision for the capital expenditure to the organization’s mission and goals? What challenges do you anticipate in justifying a capital budget to administrative leaders in an organization? What criteria might a particular health care organization or service provider apply to evaluate the return on a capital investment? 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. 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.
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