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Budget Management Analysis - Research Paper Example

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Facility Redesign (Institution’s Name) Introduction This paper highlights on an example of a capital purchases that a hospital can make. The capital purchase to be discussed is a facility design that is posed to cost the hospital more than $5000…
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Budget Management Analysis
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Download file to see previous pages Thirdly, the research paper will state the primary stakeholders of the hospital and their views towards redesigning of the facility and its associated budget. In the last section, the research paper will state the risks involved in pursuing the redesigning of the facility and the risks of not redesigning the hospital. Facility redesign According to the studies conducted by Sawyer (2009), facility is the space whereby employees of an organization carry out their respective duties while design refers to the layout or the architecture of the mentioned space. Sawyer (2009) further stated that facility’s design is an integral component of the operations of an organization because it determines the results of the production process and it goes a long way in meeting employees’ needs. Designing of a facility is usually aimed at ensuring that there is smooth flow of information, and work material within an organization’s space to enable operations to proceed smoothly. Sawyer (2009) stated that a good design of a facility is usually able to integrate employees’ needs, work materials, as well as machinery in a single and effective system. The designing and redesigning of a hospital facility usually takes into consideration various factors such as safety within the facility, the ease of movement and communication, space utilization, material handling, and the impact on employees’ satisfaction and morale. ...
he estimated budget for redesigning the facility is presented in the table below: Item Estimated cost($) Architecture’s fee 1500 Constructor’s fee 2000 Construction materials 3000 Purchase of new items 4000 Total 10,500 It is assumed that the facility to be redesigned is the general ward that holds patients with less severe medical cases and therefore the facility does not entail numerous complexities. Moreover, the nurses’ lounge is also located in this general ward. The construction fee is only $2000 and it includes the cost of labor. The amount is considerable small because the work involved will be less, as it will just involve a makeover. The hospital will separately purchase the construction materials listed by the constructor in order to avoid an excess or exaggerated budget arising from the inflated prices by the constructor. The materials will include things such as paints, timber, nails, pipes, cables, and cement, among others. Redesigning the facility will also involve putting in place new items that support the new design, and hence the $4000 budget, which will cover for items such as curtains, beddings that match with the new wall paintings. Other items that will be purchased include new computers, furniture, and communication systems that will be installed at the nurses’ lounge. The total budget for the entire project will be $10,500, which is a considerable amount but it is likely to give the hospital good returns on their investment. Management goals that will be supported by the expenditure It is of essence to note that the redesigning of the facility was implemented because of a management decision that was earlier made. Therefore, redesigning of the facility supports certain management goals that also have an impact of the financial ...Download file to see next pagesRead More
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