Aspects of the Creating a Budget

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It is crucial to plan a direct practice improvement (DPI) project, and developing a budget is a part of that process. The proposed budget includes diverse types of costs and justifies them. The present paper explains the different types of costs, demonstrating how and why a budget is important for the project and nursing in general, in particular, due to the limited nature of accessed resources.

As can be seen in the DNP-840 DPI Project Budget, most costs are not directly applicable to the project, but their consideration was still required because their funding was alternatively produced (provided by the clinic). Indeed, the budget incorporates a fixed (not variable, that is, not fluctuating based on volume) and direct (directly related to producing the project) cost of the labor of one individual, who will assist with extracting the data (Flaherty, Grasso, & Aiena, 2017). Furthermore, the budget includes some money meant to cover the miscellaneous expenses should an unexpected one be required. Additionally, the budget recognizes the need for a lot of resources, including the time and effort of the researcher, the space and equipment of the clinic, as well as the materials provided by the clinic, all of which will not be paid for and will be provided for free. Travel is acknowledged as a source of expenses for the participants, but it will not be reimbursed. Overall, the need for diverse resources is acknowledged in the project’s budget.

Budgeting is a critical skill in many fields, and nursing is not an exception. Zaccagnini and Pechacek (2019) highlight its importance for nursing projects, and Flaherty et al. (2017) and Moore (2018) discuss it outside of such constraints. All these sources recommend that nurses, especially those in leadership roles, become familiar with key economic terms and concepts because of their involvement in resource allocation in healthcare. In a quality improvement project, the budget ensures that all the key resources are available; in leadership roles, its understanding assists in the management of the limited resources in an efficient way (Moore, 2018).

The recognition and appreciation of the resources provided by the project’s site are important from this perspective because the organizational budget will be impacted by it. Thus, the budget is there to ensure that the project can be carried out, and it demonstrates the use of a skill that nurses need to develop for successful resource management. The limited nature of the resources and the need to manage them carefully are particularly crucial in this regard.

DNP-840 DPI Project Budget

Expenses	Total Anticipated Cost	Rationale for Total Anticipated Cost
Direct and Indirect Costs	Direct: $200 labor and 0 materials Indirect: 0 space and equipment	Direct costs are the costs that are directly required to carry out the project, that is, labor (related to the data extraction) and materials (booklets). Indirect costs are space and equipment, as well as possible travel, but the latter is not going to be reimbursed.
Fixed and Variable Costs	Fixed: $200 labor Variable: 0	It has been determined that the labor will cost $200, which will be a fixed amount paid, but no variable costs have been identified.
Labor and Materials	Labor $200 Materials: 0	Regarding labor, one employee of the clinic will be recruited to extract and anonymize the data. It is planned to reimburse about 10 hours of work, and the employee has already agreed to the price. In terms of materials, the main expense is booklets. Most printing options are only available for large quantities of booklets, which is why it has been arranged to print them out at the clinic for free.
Travel	0	Personal travel expenses for any of the participants will not be reimbursed
Equipment and Space	0	The project will be using the equipment and space of the clinic for no fee.
License and Miscellaneous Expense	$100	For the sake of possible unexpected expenses, an additional $100 is included in the budget. Furthermore, the project will require the researcher to dedicate a lot of time and effort, which cannot be reflected in a monetary equivalent. The assistance of the clinic, including the provision of printing services and space, will be greatly appreciated.

References

Flaherty, E, Grasso, A., & Aiena, C. (2017). Resource management. In L.A. Joel (Ed.), Advanced practice nursing: Essentials for role development (pp. 165–183). FA Davis.

Moore, B. (2018). Healthcare economics is essential for the nursing profession. In C. King, S. Gerard, & C. Rapp (Eds.), Essential knowledge for CNL and APRN nurse leaders (pp. 183–196). Springer.

Zaccagnini, M., & Pechacek, J. M. (2019). The doctor of nursing practice essentials: A new model for advanced practice nursing. Jones & Bartlett Learning.

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Aspects of the Creating a Budget

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