Interview a leader of your choice who has experience with creating and managing budgets, and write a 3–5 page analysis of your findings from the interview. As you prepare to complete this assessment, you may want to think about other related issues to deepen your understanding or broaden your viewpoint. You are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of your professional community. Note that these questions are for your own development and exploration and do not need to be completed or submitted as part of your assessment. SHOW LESS Capital and operating budgets each play a major role in the financial expenditures of nursing units. What is the purpose of each type of budget? How does managing these two types of budgets differ? What financial management techniques are common to both types? Reflect on your experience with either type of budget. How have one or the other of these two budgets affected the provision of care in your organization or unit? Preparation You are the nurse manager of a new urgent care clinic, and one of your first tasks is to prepare next year’s operating budget. Like many nurses, you have had little or no direct experience with the budgeting process and realize that financial management is not one of your strengths as a leader. Consequently, you have decided that you need to reach out for help from someone in the facility with budgeting experience and financial management expertise who can offer you help and insight. Note: Remember that you can submit all of, or a portion of, your draft analysis to Smarthinking for feedback, before you submit the final version for this assessment. However, be mindful of the turnaround time of 24–48 hours for receiving feedback, if you plan on using this free service. Requirements Interview Conduct an interview with your site supervisor, or other nurse leader whom you consider to be a mentor in the area of health care finance. Discuss their experience with operations and capital budgets in their current or previous role. Explore the following topics in your interview: Their experience managing an operating budget. Their approach to managing productivity within the parameters of the budget. Their approach to oversight of the appropriate use and availability of equipment and supplies. The experience of managing a capital budget. How managing a capital budget differs from managing an operating budget.
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