NURS FPX 6216 Assessment 2 Preparing and Managing an Operating Budget

Moreover, the designing and planning phase of the budget would rely on a hybrid approach that will enhance its future forecasting accuracy (Daili, 202). The healthcare providers will consider this approach of using the statistical forecasting procedures and align them with operating budget processes. For example, the future forecasting budgeting would include data collection and gaps’ detection, full knowledge operations, maintenance processes, synthesis, strategies for managing new resources, funding schemes, and formative ongoing expenses (Canana, 2020). 

This proposed strategy will help to institutionalize the work of managers and also reduce workload of nurses. This planning strategy will offer a good positive environment for the implementation of this budget action plan. For example, after month end, updated outcomes will be distributed to managers and decision-makers. Long-term budget planning focuses on finances to make sustainable decisions. 

Conflicting Information

NURS FPX 6216 Assessment 2 Preparing and Managing an Operating Budget

There are several important roles of this budget system. This means multiple role conflicts can arise. For example, the biggest challenge or budget conflict can be planning versus motivation. The next conflict can be motivation versus evaluation. Therefore, if the company does not use this budget, it will lose it. It must fit the goals of the organization and also should not make easy to spend money. The budget must be realistic which may not lead to inflexibility (Aziz & Shah, 2020).