Budgeting and Timeline Tools - Term Paper Example

STRATEIGIC PLAN: Budget timeline. INTRODUCTION Strategic plan refers to the systematic process of translating visions into desired results or goals and the necessary steps taken to achieve them. To achieve a good strategic plan it must be within the stipulated budget so that it is realistic.It is different to long term planning in that it begins with the current status and the necessary process to meet future needs. Strategic plan starts with the desired plan works backwards to the current status.

At every stage, in the strategic planning process the planner asks himself/herself what must be done to the lower stage to reach the current status.The essay below examines the performance of ABCD’s strategic plan and required budget timeline.The strategic plan processThe Strategic Planning ProcessMission &      Objectives        Environmental  ScanningStrategy    Formulation     Strategy Implementation        Evaluation      & Control A good strategic plan must be realistic and geared towards achieving the objectives set.

STRATEIGIC PLAN: ABCD HOSPITAL VISION:To be the leading hospital in the states in offering better and quality healthcare.MISSION:To provide a better services to patients and community in general. CORE VALUES:IntegrityRespectContinuous improvement and innovationSTRATEIGIC OBJECTIVESS Specific-The goals of the hospital is to offer quality medication to patientsM Measurable-the cost are affordable to the organization’s needA Attainable- the goals are attainable using the resources and the environmentR Relevant-the goals are relevant to the hospitalT Time bound- the goals or the plan are to be achieved within 2years.

INITIATIVES To meet the goals the hospital is planning to increase the number of staffs, nurses and doctors.The construction of more hospital rooms are to be completed within 6monthsMEASURES (KEY PERFORMANCE INDICATOR)Building more rooms and buying more medical equipments especially in surgery.In line with the PERT project the construction of hospital as scheduled.The budget plan and sample of the project cash flows are attached in connection to this project.Quick wins:Increase the number of beds in the hospital to accommodate 200 extra patientsPerformance Objectives.

Performance AreaPerformance MeasuresTargetTime FrameFinancial PerformanceCash flowsBalance sheet$5million 2yrsCustomer and Market PerformanceIncrease in number of hospital300 per day 2 monthsInternal Efficiency and EffectivenessManagement leadershipBudget planTrained medical practitioner in every department3 monthsRESOURCESPersonnel-the number of nurses per shift should be increased unlicensed 1 per shift and 2 nurses (licensed) per shiftFinance/budget-the finance required for the project is $5million.

The challenge faced is that several emergencies on the budget may arise for example x-ray machine which currently needs to be repaired.Facilities/equipment-dialysis machine and x-ray machine.Organisation structure Pert diagram 5 24 5 ` 2 7 43 4 5 6 4The time taken for event 1-2-4days, event 2-3-9days event 3-6-11 days, event 6-8-15days. ReferencesSare, M. V., & Ogilvie, L. (2010). Strategic planning for nurses: Change management in health care. Sudbury, MA: Jones and Bartlett.

http://www.mindtools.com/critpath.htmlhttp://www.inc.com/encyclopedia/budgetsandbudgeting.htmlINCOME AND EXPENDITUREABCD HOSPITALFOR THE PERIOD 20-15INCOME  $,illions $ million        funds from government     2.00  Donors     2.00  donation      1.00        5.00  Expenditures      x-ray machine   0.50    dialysis machine   0.50    rooms building   2.00    Salaries   0.

30        3.30    Profit     1.70         N/B: The emergency that arises are going to be factored in the profit