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Health Financial Management - Budget Business Case - Report Writing Assessment Answer
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Health Financial Management - Budget Business Case - Report Writing Assessment Answer
Assignment Task: Budget business case Rationale: The purpose of this assessment is to enable students to apply the knowledge they have gained from this unit. The assignment is designed for students to develop a zero-based budget that shows skills in breaking down costs for a service or project in relation to planned activity levels and outcomes or deliverables. Development of a business case is a common activity for health managers to undertake.Task and instructions
For your chosen service or health facility prepare a budget for this new service or project suitable to the Nepean Blue Mountains Local Health District. Prepare this in a report format as discussed in class and as outlined on the vUWS website. A template has been provided on the vUWS online learning platform to assist with this task.- Remember that outputs, as well as financial data, are required.
- In preparing the budget, students should show the build-up of the budget from a zero base including all significant line items.
- A contingency plan must be included (what happens if desired funding is not available to the optimal level desired) with at 10% less than the optimal budget. Show deletions and cost-cutting measures.
- Include a financial activity analysis and a break-even analysis chart to show at what level of activity the service ’breaks even’. In the public sector, this means to come in on budget rather than make a profit.
Criteria
You will be assessed on the following:- Rationale/justification for a new service.
- Application of zero-based budgeting principles.
- Understanding of activity/output requirements.
- Feasibility and accuracy of the break-even analysis.
- Quality, feasibility and relevance of performance criteria. – Writing skills.
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