NURS FPX 6216 Assessment 4 Preparing and Managing a Capital Budget
The organization aims to deliver the best quality services to cater to the patient’s needs, and this project will promote a sense of motivation among the working staff by creating a peaceful ambiance and environment for them, and hence will reduce the nursing turnover rate. A comfortable work environment enhances employee satisfaction and reduces staff turnover (Taheri et al., 2020). As per the benefits which will be drawn from this project, the executive leaders will positively react toward the project budget.
Pros and Cons of the Proposed Improvements
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The pros of this project are that; it will promote a sense of motivation among the employees, which will improve their productivity and delivery of quality care. The change in the aesthetics and ambiance will reduce employee turnover as well. The negative consequences will be, if the project is not implemented properly, it will not provide the desired outcomes.
Capital Budget Preparation
NURS FPX 6216 Assessment 4 Preparing and Managing a Capital Budget
The renovation budget will be prepared and planned six months before the implementation phase. The renovation plan will be based on the nursing staff’s needs and desires so that it fulfills the demands of the nursing workforce. The renovation budget will be as follows:
| Particulars | Quantity | Cost ($) |
| Lounge couches and chairs | 4 | 30,000 |
| Coffee table | 2 | 20,000 |
| Lounge shelves | 2 | 10,000 |
| Lounge floor renovation | 10-20 per square feet | 40,000 |
| LED | 2 | 200,000 |
| Wall paintings, décor and others | As per the requirement | 200,000 |
| Air Conditioner | 4 | 400,000 |
| Vending machine | 1 | 100,000 |
| Total cost ($) | 1000,000 |
Areas of Uncertainties or Knowledge Gaps
NURS FPX 6216 Assessment 4 Preparing and Managing a Capital Budget
It was planned initially to hire a specific staff, who will be responsible to manage the renovated area, but there were uncertainties associated with this decision, as the organization was not sure, if the decision of hiring the new staff will align with the budget plan and budget cost.
Cost Calculation
NURS FPX 6216 Assessment 4 Preparing and Managing a Capital Budget
The renovation budget will be following the job costing technique, as it determines the cost which are the reliable ones and which will be successful for this project, also it will determine their respective cost. The total renovation cost of the project is $1000,000, and it mainly covers the most reliable required expenses including; lounge floors, air conditioners, vending machines, etc.