This assignment is to assess your skills to create a budget plan.
Excel Spreadsheet Instructions
Download and complete the Budget Plan Template
(Excel).
On the spreadsheet, make sure to include the answers to the questions at the top. You will then provide a desсrіption or rationale for each income and expense line item. For example, salaries are listed as a line item. In the desсrіption column, you need to provide how you got to the total amount for salaries: e.g., [3 RNs x $65 per hour × 2080 hours per year] + [one PCT x $16 per hour × 2080 hours].
PLEASE NOTE: Your ROI should be between 0-100%. It may be slightly negative if you are choosing to do something that is vital to patient safety. Your ROl may be somewhat over 100% if your expenses were significantly smaller than your cost-savings/avoidance. However, if your ROl is well over 100%, then review LINE 40 in your spreadsheet. Most projects will not eliminate all occurrences. This number in LINE 40 should not be zero.
If you have questions, please contact with your faculty. Review a faculty example of a completed spreadsheet
(PDF).
Narrative Portion Instructions
Please submit a word document for the narrative portion that should include a paragraph summarizing the income (whether the project is a cost savings, cost avoidance, or new source of revenue, and the rationale for that determination), the expenses, discussing the ROl, and a concluding statement.
Your summary paragraph should include:
• The purpose of the project and the financial ask.
Why is this project important and what, or how much, are you requesting?
• Whether the project will result in a new source of revenue, cost savings, or cost avoidance. Provide a few straightforward sentences to support your determination. For example, ″This project is aimed at reducing central line infections. If we reduce infections by 25%, the organizations will have a cost avoidance of $XX, XXX.″ Provide a source to back up your statement. ″Smith (2019), Jones & Wong (2017), and Kelly & Washington (2015) conclude that similar projects have resulted in infection rate decreases of 28% and found a positive financial benefit to the organization of X amount.″
Example Summary: ″The total expenses for the first year of the new program are projected to be $500,000.
This projected amount is within the range of what other organizations have spent on their implementations of similar projects. One-half of the expenses are for employee salaries, and the other major expenses are related to the purchase of new technology. Even accounting for depreciation, the expenses in the second year are expected to decrease by 20%, as the new technology has a life span of five years.
Important Info
The order was placed through a short procedure (customer skipped some order details).
Please clarify some paper details before starting to work on the order.
- Type of paper and subject
- Number of sources and formatting style
- Type of service (writing, rewriting, etc)
