Describe the capital acquisition

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You are the unit manager of a 50-bed, step-down unit, and it is time for you to prepare your annual capital budget. You have seen a significant turnover in your nursing staff in the past three years; a review of exit interviews and patient surveys indicates low nurse satisfaction, poor morale, and complaints of an antiquated and depressing work environment. You have researched the impact of a positive working environment on staff productivity and morale and decided to request a renovation of the nurses’ lounge as the main purchase in your capital budget. You will present your request as a quality improvement investment.

As you prepare to complete this assessment, you may want to think about other related issues to deepen your understanding or broaden your viewpoint.
Prepare a capital budget for a facility renovation. Assemble your budget figures in a table, using a format of your choice. You may use either Microsoft Word or Excel to create your budget table.
You may also use a budget format used in your organization or a format you find in any of the course resources or on the Internet.
Describe the capital acquisition.
Justify the need for the capital acquisition.
Prepare the capital budget.

Describe the process for calculating costs.
Present a plan for budget management.
Explain how the capital acquisition will affect the financial health of the organization.
Present budget data and information clearly and accurately.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

Competency 3: Develop a capital budget.
Describe a capital acquisition.
Prepare a capital budget.
Describe the process for calculating costs.
Competency 4: Determine the equipment and services needed to maintain seamless patient or client care.
Justify the need for a capital acquisition.
Competency 5: Apply financial principles to a strategic plan for achieving organizational goals and fiscal success.
Present a plan for budget management.

Explain how a capital acquisition will affect the financial health of the organization.
Competency 6: Communicate effectively with diverse audiences, in an appropriate form and style, consistent with applicable organizational, professional, and scholarly standards.
Present budget data and information clearly and accurately.
Integrate relevant and credible sources of evidence to support your budget data and information, correctly formatting citations and references using APA style.

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