Chapter 5 Flashcards
Continuous process of assessing and establishing goals and obj. And implementing and evaluating and controlling them
Planning
Subject to change as new facts are known
Planning
Deciding in advance what to do, how to do a particular task, when to do it, and who is to do it
Planning
Types of plan
S- strategic plan
O- operating plan
C- continuous or rolling plan
- Usually prepared by the upper levels of management.
- BASIS FOR OPERATIONAL PLAN
Strategic plan
- act. In specific departments of an org.
- deals w/ tactics or techniques for accomplishing things
Operating plan
Mapping day-to-day act.
Continuous or rolling plan
Purposes of planning
- increase chance of success by focusing in results
- force analytic thinking and eval. Of alternatives, therefore improving decisions
- orient people to act. Instead of reaction
Principles of planning
- based on the vision, mission, philo, and clearly obj of org
- continuous process
- pervasive within the entire org covering the diff departments
- utilizes all available resources
- precise in its scope and nature, realistic and focused on its expected outcome
- time bound
- documented for proper dissemination
Characteristics of a good plan
- precise, w/ clear obj, w/ desired results and methods for eval.
- guide by policies or procedure
- indicates priorities
- dev. Actions that are flexible and realistic
- include most practical methods
- pervade while org.
Effectiveness of a plan:
- enhanced by the environment in which the nursing personnel work
- climate promotes good working rel. and leads toward achievement of identified goals
Elements of planning
F- forecasting
S- setting vision, mission, philosophy, goals, and objectives
D- developing and scheduling programs/projects/activities, set time frame
P- prepare budget and allocation resources
E- establish policies, procedure, and standards
Looking into the future and decide in advance where the agency would like to be done in order to get there
Forecasting
It outlines the org. Future role and fnx. It gives the agency something to strive for.
Vision
Pre-established and often self-imposed obj. Or purpose
Mission
Statement of beliefs and values that directs one practice. Gives direction towards attainment of a certain goal
Philosophy
Desired aims or condition towards which one is willing to work
Goal
Statement of a desired short-term condition or achievement, with measurable end result to be accomplish by specific terms or indiv. With time limit
Objectives
Planning formula: what, when, where, why, who, how, can
Kron’s formula
Allocating one’s time through setting goals, assigning priorities, identifying and eliminating wasted time and using managerial technique to reach goals effectively
Time management
Principles of time management
- planning for contingencies- thinking of other options
- lists of tasks- calendar of acts.
- inventory- looking at the task done and not done
- sequencing- prioritizing
- setting and keeping deadlines- do not procrastinate
- delegating- give a portion of the task to those who can do it
When several tasks are done in less time
Multitasking
Budgeting is a systematic financial translation of a plan. A tool for planning, monitoring, and controlling cost and meeting expenses
Prepare budget and allocation resources
Allocates resources for NURSING program and delivery of pt. Care
Nursing budget
Designed to meet future service expectation for pt., provide pt. Care at min. Cost
Hospital budget
A plan for future act. Such as revenue, expense, capital, and cash budget
Budget plan
Income and management expects to generate during the planning period
Revenue budget
Expected act. In operational financial terms in a given period of time
Expense budget
Program acquisition, disposal and improvements in the institutions physical capacity
Capital budget
Money received., cash receipt and disbursement during the planning period
Cash budget
Portrays a company’s expenses, expected costs, and estimated income, considering the quarterly or the annual performance
Operating budget
- estimation of cash flows of a business
- weekly/monthly/quarterly/annually budget
- actual operating budget in detail
- day-to
-day-to-day budget and represents money coming in and going out
Cash budget
-budgets for nursing personnels are based on quantitative workload measurements such as pt. Acuity sys.
Personnel budget
Classified as long-term asset
Equipment
Utilized over a longer period of time, it often depreciates
Equipment is tangible property
Supplies and equipment budget
- budget allocating money for acquisition or maintenance of fixed assets such as land, buildings, and equipment.
- major purchases and investments
Capital budget
Uses of budgets
- planning: preparation of budget, forecasting future resource
- monitoring and motivation: monitoring use of resources, effectiveness of planning process, motivating tool for managers
- communication: coordination and communication vehicle within an org.
Systematic plan that is an informed best estimate by nurse administrators of revenues and nursing expenses
Nursing budget
3 purposes of nursing budget
Plan, motivate, and serve
Budget stages
- formulation stage
- review and enactment stage
- execution stage
- dev. obj. And mnagement plans
- gather all financial, historical, and statistical data
- analyze data
Formulation stage
Direct and eval. Expenses and receipts
Revise budget if indicated
Execution stage
Types of expenses or costs
F- fixed costs
V- variable costs
S- sunk costs
D- direct costs
I- indirect costs
Not related to volume
Remain constant
Rentals, loans, taxes
Fixed costs
Production costs
Change in proportion
Raw material, labor, production, commission, cards, freight
Variable costs
Fixed expenses cannot be recovered even prog. Is cancelled
Advertising, research and dev., hiring employees, training/seminars
Sunk costs
Costs of providing the product or service and are often considered to be those directly related to pt. Care (ginamit ng pt.)
Direst costs
Expenses cannot be traced back
Not directly related to pt. Care
Legal expenses, admin salary, housekeeping, office exp se and building maintenance
Indirect costs
Standing plans used repeatedly, or guides or basic rules that govern action at all levels in the org.
Policies
Are specific guide to action
Procedures
Minimal level of achievement acceptable to meet the set objectives
Standards
