NURS FPX 6216 – Assessment 4 Preparing and Managing a Capital Budget Questionable data and effects of discrepancies on calculations

Two data or information seemed to be questionable. The first information is the effectiveness of wages where construction and design agencies try to complete or drag the work till the deadline to get more credit. The second data is related to the use of therapies by nurses as they might not get enough time for it (Nejati et al., 2018). Further, very small discrepancies in calculation can increase the cost by a significant amount (Huang et al., 2020). 

Plan for budget management, collaboration to manage budget and budget variances

For better management, a project team will be created, which includes representatives from different stakeholders including suppliers, nurses, administration, data analyst (Tabari et al., 2019), finance management, nurse leader, and nurse manager (Nejati et al., 2016). A shared decision-making model will be adopted to increase collaboration, communication, project analysis, fiscal success, and process tracking to find any variances and implement strategic plans to mitigate them (Siddiqui et al., 2015). Further, communication between financial and administration staff will be increased by setting up meetings to discuss and manage the project (Nejati et al., 2016).