Please let me know if you have access to the spreadsheet
Download and complete the
Budget Plan Template (Excel)Links to an external site..
On the spreadsheet, make sure to include the answers to the questions at the top. You will then provide a description or rationale for each income and expense line item. For example, salaries are listed as a line item. In the description column, you need to provide how you got to the total amount for salaries: e.g., [3 RNs x $65 per hour x 2080 hours per year] + [one PCT x $16 per hour x 2080 hours].
PLEASE NOTE: Your ROI should be between 0-100%. It may be slightly negative if you are choosing to do something that is vital to patient safety. Your ROI may be somewhat over 100% if your expenses were significantly smaller than your cost-savings/avoidance. However, if your ROI is well over 100%, then review LINE 40 in your spreadsheet. Most projects will not eliminate all occurrences. This number in LINE 40 should not be zero. If you have questions, please contact with your faculty.
Review a
faculty example of a completed spreadsheet.Links to an external site.
Narrative Portion Instructions
Please submit a word document for the narrative portion that should include a paragraph summarizing the income (whether the project is a cost savings, cost avoidance, or new source of revenue, and the rationale for that determination), the expenses, discussing the ROI, and a concluding statement.
Your summary paragraph should include:
· The purpose of the project and the financial ask. Why is this project important and what, or how much, are you requesting?
· Whether the project will result in a new source of revenue, cost savings, or cost avoidance. Provide a few straightforward sentences to support your determination. For example, “This project is aimed at reducing central line infections. If we reduce infections by 25%, the organizations will have a cost avoidance of $XX, XXX.” Provide a source to back up your statement. “Smith (2019), Jones & Wong (2017), and Kelly & Washington (2015) conclude that similar projects have resulted in infection rate decreases of 28% and found a positive financial benefit to the organization of X amount.”
Example Summary: “The total expenses for the first year of the new program are projected to be $500,000. This projected amount is within the range of what other organizations have spent on their implementations of similar projects. One-half of the expenses are for employee salaries, and the other major expenses are related to the purchase of new technology. Even accounting for depreciation, the expenses in the second year are expected to decrease by 20%, as the new technology has a life span of five years.”
Please Let me know if your able to access the spreadsheet Thank you! Based in Florida.
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Budget Rubric Sp 2024 |
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Criteria |
Ratings |
Pts |
|
Introduction |
2 to >1 pts Meets Criterion Includes name, project, location, outcomes 1 to >0 pts Partially Meets Criterion Does not include one or more of the introduction components |
/ 2 pts |
|
Personnel Expenses |
30 to >29 pts Meets Criterion Includes reasonable expenses for personnel for planning (10 points), training (10 points), and implementation (10 points) (at launch and for first year) 29 to >0 pts Partially Meets Criterion Does not include reasonable or logical expenses for planning, training, and/or implementation (at launch and for first year) |
/ 30 pts |
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Supplies and Other Expenses |
20 to >19 pts Meets Criterion Includes reasonable expenses for implementation of project and costs for first year 19 to >0 pts Partially Meets Criterion Does not include reasonable expenses for implementation of project and costs for first year |
/ 20 pts |
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Rationales |
20 to >19 pts Meets Criterion Includes logical rationales for each expense 19 to >0 pts Partially Meets Criterion Does not include logical rationales for each expense |
/ 20 pts |
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ROI |
18 to >17 pts Meets Criterion Accurately calculates ROI based on logical and realistic project outcomes 17 to >0 pts Partially Meets Criterion Does not accurately calculate ROI based on logical and realistic project outcomes |
/ 18 pts |
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Summary view longer description |
10 to >9 pts Full Marks Adequately addresses all points of the required narrative summary. 9 to >0 pts Partial Marks Does not adequately address all of the required points of the narrative summary, or did not complete a summary. |
/ 10 pts |
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Total Points: 0 |
