Budget Negotiations and Communication

• Negotiating budgets and communicating financial needs to stakeholders are vital skills for nurse leaders. Given today’s numerous constraints on funding and a highly competitive environment, the ability to win support for your budget proposals hinges on being able to present a compelling argument based on well-documented needs, accurate financial information, and a justifiable business case.
This assessment provides an opportunity for you to examine the mission and goals of a health care organization, in order to justify a budget proposal. A persuasive argument requires thoughtful justification and rationale for the expenses required to support your proposal. A proposal that supports the organization’s mission and goals strengthens your argument and is much more likely to get you what you need.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
• Competency 1: Design an operating budget that incorporates variances or discretionary spending.
o Outline a strategic plan that ensures profitability and fiscal success.
• Competency 2: Develop a plan for managing the labor force, within the parameters of the budget and productivity.
o Present a plan to meet staff productivity goals, while staying within budget parameters.
• Competency 4: Determine the equipment and services needed to maintain seamless patient or client care.
o Justify equipment and service costs.
• Competency 5: Apply financial principles to a strategic plan for achieving organizational goals and fiscal success.
o Analyze department, unit, or project alignment with an organization’s mission and goals.
• Competency 6: Communicate effectively with diverse audiences, in an appropriate form and style, consistent with applicable organizational, professional, and scholarly standards.
o Write clearly and concisely, using correct grammar and mechanics.
o Integrate relevant and credible sources of evidence to support your assertions, correctly formatting citations and references using APA style.