Budgeting and Timeline Tools

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Course Project: Developing a Strategic Plan

 Section 4: Budgeting and Timeline Tools

As you have been examining this week, budgeting and timeline tools are vital for determining necessary resources and planning for a proposed change. For your Course Project, you use these types of tools to assess resources that may be required for the successful implementation of your strategic plan.

To prepare:

  • Review the information on budgeting in this week’s Learning Resources. Which tools (e.g., Revenue Projection Model, Capital Budgeting Analysis, Depreciation Calculator, Profit and Loss Projection) would be most useful for developing your strategic plan?
  • Use one or more budgeting tools to outline the financial resources for your proposed change. Reflect on any challenges that arise as you evaluate the financial resources required for this change now and in the future.
  • Review the information on PERT and other timeline tools in this week’s Learning Resources, including Dr. Huston’s presentation in the media program.
  • Use PERT or another tool to analyze and represent the activities that need to be completed to successfully plan and implement your proposed change. Be sure to note dependencies (e.g., a task/milestone that must be completed in order to trigger the next step) and realistically assess the minimum time needed to complete the entire project.

To complete:

  • Outline the financial resources for your proposed change. Describe the budgeting tool(s) you used to arrive at these determinations. Explain what challenges, if any, you encountered through the budgeting process. Provide documentation (e.g., Excel worksheets) to support your analysis.
  • Outline the timeline for the implementation of your proposed change using PERT or another timeline tool. Consider how your timeline can allow leeway for variance.

 

Articles/ Readings

 

  • Sare, M. V., & Ogilvie, L. (2010). Strategic planning for nurses: Change management in health care. Sudbury, MA: Jones and Bartlett.
    • Appendix 7, “Sample Template of the Strategic Planning Process” (pp. 142–143)

      Appendix 7 provides a template you may use to prepare for your Course Project.

  • (n.d.). Budgets and budgeting. Retrieved from http://www.inc.com/encyclopedia/budgetsandbudgeting.html

    This website examines strategies for creating a budget.

  • Mind Tools. (2013). Critical path analysis and PERT charts. Retrieved from http://www.mindtools.com/critpath.html

    Mind Tools has numerous resources that facilitate and support the planning process.

 

Media

  • Laureate Education (Producer). (2013h). Timeline tools [Video file]. Retrieved from https://class.waldenu.edu

    Carol Huston addresses time management as a key aspect of strategic planning and explains various timeline tools.

 

 

Link for the media is:

https://www.sendspace.com/file/gxwujn