Budget Negotiations and Communication Assignment

Budget Negotiations and Communication Assignment

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Write a 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. Budget Negotiations and Communication Assignment

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. A proposal that supports the organization’s mission and goals strengthens your argument and is much more likely to get you what you need. Budget Negotiations and Communication Assignment

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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. Budget Negotiations and Communication Assignment

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. Your challenge is to position your unit favorably within an environment of competing demands for limited funding. Budget Negotiations and Communication Assignment

Note: Remember that you can submit all of, or a portion of, your draft to Smarthinking for feedback, before you submit the final version for this assessment. However, be mindful of the turnaround time of 24-48 hours for receiving feedback, if you plan on using this free service.

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. Budget Negotiations and Communication Assignment

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?
The following resources are required to complete the assessment. Budget Negotiations and Communication Assignment

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. Budget Negotiations and Communication Assignment

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.
Integrate relevant and credible sources of evidence to support your assertions, correctly formatting citations and references using current APA style. Budget Negotiations and Communication Assignment
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.
A running head on all pages.
Appropriate section headings.
A minimum of five properly formatted citations and references.
Your summary should be 5 pages in length, not including the title page and reference page. Budget Negotiations and Communication Assignment
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 Assignment

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. Budget Negotiations and Communication Assignment
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.
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. Budget Negotiations and Communication Assignment

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. Budget Negotiations and Communication Assignment
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 readerâ€s attention and compels her to read through the rest of the document? Budget Negotiations and Communication Assignment
• 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?
• 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? Budget Negotiations and Communication Assignment
• How did you calculate costs?
• 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.
Integrate relevant and credible sources of evidence to support your assertions, correctly formatting citations and references using APA style. Budget Negotiations and Communication Assignment
• 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 Assignment
• 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?

The following must be included:
1. Outlines a strategic plan that ensures profitability and fiscal success, and identifies knowledge gaps, unknowns, missing information, unanswered questions, or areas of uncertainty. Budget Negotiations and Communication Assignment
2. Presents a plan to meet staff productivity goals, while staying within budget parameters, including rationale for rejecting alternative approaches.
3. Justifies equipment and service costs, and identifies assumptions on which the projected costs are based.
4. Provides a persuasive analysis linking the department, unit, or project with an organization’s mission and goals. Budget Negotiations and Communication Assignment
5. Writes clearly and concisely. Grammar and mechanics are error-free.
6. Integrates relevant, credible, and convincing sources of evidence to support assertions. Sources are current, and citations and references are error-free. Budget Negotiations and Communication Assignment