Explain strategies for ensuring that a proposed economic initiative can remain a viable asset to an organization or care setting in the face of dynamic environmental forces.
- Develop a 6–7-page implementation plan for the initiative you proposed in Assessment 1. Include a budget for material, staffing, and capital costs over the first five years of the initiative, as well as projected earnings. In addition, include a timeline, an organizational impact analysis, and an explanation of the effects of environmental changes on the initiative.
Note: Each assessment in this course builds upon the work you have completed in previous assessments. Therefore, you must complete the assessments in the order in which they are presented.
SHOW LESSAs a master’s-level health care practitioner, you may be expected to create budgets and implementation plans to ensure that initiatives to take advantage of economic opportunities for the organization are rolled out successfully and can be sustained over multiple years. Additionally, it is important to be able to envision how an initiative could be implemented in different contexts and for different purposes to ensure that the investment remains a viable and positive asset to your organization or care setting.
CHECK YOUR PROGRESSUse this online tool to track your performance and progress through your course.
- Toggle DrawerResourcesBudget Development
The following articles may be helpful in helping you to create a budget.
- Danna, D. (n.d.). Learning and mastering the operating budget. Retrieved from http://www.strategiesfornursemanagers.com/ce_detail/213520.cfm
- Pritchard, G. (n.d.). How to develop an operating budget for a nursing unit. Retrieved from http://smallbusiness.chron.com/develop-operating-budget-nursing-unit-79824.html
- SHOW MORE
- Assessment InstructionsDevelop a thorough implementation plan for the economic initiative you proposed in Assessment 1. Your plan must include a budget for material, staffing, and capital costs over the first five years of the initiative, as well as projected earnings. In addition, include:
- A plan and timeline for rolling out the initiative.
- An analysis of how the initiative may impact other aspects of the organization or care setting.
- An explanation how the initiative can remain viable in the face of environmental changes.
- Sufficient relevant and credible supporting evidence.
- Note: Remember that you can submit all, or a portion of, your draft implementation plan to Smarthinking for feedback before you submit the final version for this assessment. If you plan on using this free service, be mindful of the turnaround time of 24–48 hours for receiving feedback.
The requirements for your implementation plan, outlined below, correspond to the scoring guide criteria, so be sure to address each main point. Read the performance-level descriptions for each criterion to see how your work will be assessed. In addition, be sure to note the requirements for document format and length and for supporting evidence.
- Create a budget for expected costs and earnings over the first five years of your proposed initiative.
- What are the expected material, staffing, and capital costs of your proposed initiative over its first five years?
- What are the projected earnings for your organization or care setting over the first five years of your economic initiative?
- How does this budget take into account the findings and feedback you received on your business case?
- What assumptions are you basing your budget on?
- Create an implementation plan for your proposed initiative that enables achievement of quality or service improvements in an ethical and culturally equitable way.
- Did you create a timeline for the rollout?
- How will you work with relevant stakeholders to ensure that your economic initiative is implemented successfully and sustained?
- How will you ensure that the rollout is conducted in an ethical and culturally equitable manner?
- How will you ensure that the desired quality or service improvements your economic initiative will achieve are on track during and after implementation?
- Analyze the impact of your proposed initiative, once implemented, on other aspects of your organization or care setting and ways in which negative impacts could be mitigated.
- What other aspects of your organization or care setting may be positively or negatively impacted by the implementation of your proposed initiative?
- How will these other aspects of your organization or care setting be affected? (For example, increased workload on a testing department, borrowing of staff hours from another part of the care setting, or better communication with the community.)
- How could you mitigate at least some of the negative effects on other aspects of your organization or care setting?
- Explain your strategies for ensuring that your proposed initiative can remain a viable asset to the organization or care setting in the face of dynamic environmental forces.
- What are the environmental risks to your economic initiative?
- How could your initiative, or aspects of it, still be a viable benefit to your organization or care setting if the environment shifts in unpredictable ways?
- What strategies would you propose implementing to keep all, or a portion of, your initiative a viable net benefit to your organization or care setting?
- Justify the relevance and significance of the quantitative and qualitative economic, financial, and scholarly evidence you used throughout your plan to support your recommendations.
- How is the evidence relevant to your organization or care setting?
- How is the evidence relevant to your proposed economic initiative?
- How does the evidence illustrate a solution that has been successful in the past?
- How does the evidence illustrate that a recommendation is the best course of action for your situation and organization or care setting?
- Write concisely and directly, using active voice.
- Proofread your document before you submit it to minimize errors that could distract readers and make it more difficult for them to focus on the substance of your implementation plan.
- Adhere to the rules of grammar, usage, and mechanics.
- Example Assessment: You may use the following to give you an idea of what a Proficient or higher rating on the scoring guide would look like:
- Assessment 3 Example [PDF].
- ADDITIONAL REQUIREMENTS
Your assessment should also meet the following requirements:
- Format: Format your implementation plan using current APA style. Use the APA Style Paper Template [DOCX]. An APA Style Paper Tutorial [DOCX]is also provided to help you in writing and formatting your implementation plan. Be sure to include:
- A title page and references page. An abstract is not required.
- A running head on all pages.
- Appropriate section headings.
- Length: Your implementation plan should be 6–7 pages in length, not including the title page and references page.
- Supporting evidence: Cite 3–5 authoritative and scholarly resources to support your implementation plan. Be sure that your sources include specific economic data.
- Note: Faculty may use the Writing Feedback Tool when grading this assessment. The Writing Feedback Tool is designed to provide you with guidance and resources to develop your writing based on five core skills. You will find writing feedback in the Scoring Guide for the assessment, after your work has been evaluated.
Portfolio Prompt: You may choose to save your implementation plan to your ePortfolio.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment scoring guide criteria:
- Competency 1: Analyze the effects of financial and economic factors (such as cost-benefit, supply and demand, return on investment, and risks) in a health care system on patient care, services offered, and organizational structures and operation.
- Create a budget for expected costs and earnings over the first five years of a proposed initiative.
- Analyze the impact of a proposed initiative, once implemented, on other aspects of an organization or care setting and ways in which negative impacts could be mitigated.
- Competency 2: Develop ethical and culturally equitable solutions to economic problems within a health care organization in an effort to improve the quality of care and services offered.
- Create an implementation plan for a proposed initiative that enables achievement of quality or service improvements in an ethical and culturally equitable way.
- Competency 3: Justify the qualitative and quantitative information used to guide economic decision making to stakeholders and colleagues.
- Justify the relevance and significance of quantitative and qualitative economic, financial, and scholarly evidence used throughout an implementation plan to support recommendations.
- Competency 4: Develop ethical and culturally equitable economic strategies to address dynamic environmental forces and ensure the future security of an organization’s resources and its ability to provide quality care.
- Explain strategies for ensuring that a proposed economic initiative can remain a viable asset to an organization or care setting in the face of dynamic environmental forces.
- Competency 5: Produce clear, coherent, and professional written work, in accordance with Capella writing standards.
- Write concisely and directly using active voice.
- Adhere to the rules of grammar, usage, and mechanics