DELEGATION

Delegation in nursing management

Delegation generally involves assignment of the performance of activities or tasks
related to patient care to unlicensed assistive personnel while retaining
accountability for the outcome. The registered nurse cannot delegate responsibilities
related to making nursing judgments.

The 5 rights of delegation/principles serve to guide appropriate transfer of

responsibility for the performance of an activity or task to another person.
These "rights" are defined as having the right task, right circumstance,
right person, right direction/communication, and right
supervision/evaluation.
Right Task
Right-answer Task
The "Right Task" is one that is delegated for a specific patient such as tasks that require little
supervision, are repetitive, noninvasive, and have predictable results with minimal risk involved.

Right Circumstance
Right-answer Circumstance
One should consider the patient setting, available resources, and other relevant factors before
delegating a task.

Right Person
Right-answer Person
The "Right Person" describes delegating the appropriate tasks to the right healthcare person to
be performed on the correct patient.

Right Direction/Communication
Right-answer Direction/Communication
Consider the "4 C's" when giving direction and communicating, which includes clear, concise,
complete, and correct information. This should also include the objective, limits, and
expectation of the task at hand.

Right Supervision/Evaluation
Right-answer Supervision/Evaluation
Provide appropriate monitoring and evaluation as well as intervention and feedback as ne
1. Know your resources
If you’re not sure about which tasks can be delegated, know where to look this
information up. The specific hospital may have a policy you can review, or you can
check out your state board of nursing’s website. We won’t go into specifics here,
because that can change. However, it’s really important – regardless of location –
to know that the person you’re delegating the task to is competent. This means
that they have the appropriate competencies signed off to verify that they can
safely perform the task. I’ve been at facilities in which some CNA’s could perform
phlebotomy or insert foley catheters, while others could not.

2. Build rapport
I don’t know about you, but if I meet someone and they don’t show any interest in
knowing me at all and immediately starts barking orders a Introduce yourself to
your support staff… show that you care about getting to know them. Ask to
shadow them, if time allows. Show them that you value their expertise (yes, CNA’s
are experts in what they do – their knowledge is valuable to you as a nursing
student). Earn their trust. Ask them what they think about delegation and what
they like and don’t like… learn from the mistakes of others.
The S.O.C.K. Method for Mastering Nursing Pharmacology (our 4 step method)
3. Communicate clearly and respectfully
Sometimes we try to communicate something, but people don’t always hear what
we say. It’s a recipe for disaster if you just say something like, “Hey go discontinue
the foley in bed 4!” as you’re walking by, heading to lunch. Go up to the person;
let them know that Mr. Smith in bed 4 needs his foley discontinued. Show them
the order in the chart, and let them know that the sooner we get this removed,
and the sooner he pees, the sooner he can be discharged. Be detailed and give
the appropriate information, show them the order, and let them know how soon
it needs to be done and …

4. Don’t forget to follow up

Just because you’ve delegated something doesn’t mean you relinquish all
responsibility. You both share responsibility, as the person delegating the task and
the person to whom the task was delegated. So, if you asked a CNA to get a blood
pressure on a patient and they forgot – and so did you – it’s not entirely their fault
if you noticed it was never done 6 hours later. Make sure you’re checking to
ensure the task was completed.
People tend to avoid conversations that are uncomfortable, which can happen
when getting used to delegating. Take these conversations head-on and rip the
bandaid.. they will get easier! You are learning how to be a leader – the leader of
the health care team, and it can take some time to get comfortable in that role.
And don’t forget to check out our awesome master post about time management!
Why is delegation so important in nursing?
The primary benefit of delegation in nursing is that it allows a qualified
healthcare worker, like an RN, to transfer routine and low-risk duties
to nursing assistive personnel. This frees up the RN's time to address
more pressing matters, including critical patients and tasks.Aug 23, 2021
Here are eight golden rules of effective delegation that will
make you a great leader and free up your time for other
aspects of your business.

Rule 1: Clarify The Task In Your Own Mind

Clarify what the task is before you ask someone to complete it. There
are some important questions to ask yourself. When you have the
answers, then delegate the task. You can envision the task in the
following way.
1. Who will do the task?
2. What is the deadline?
3. What exactly needs to be done?
4. What is the desired outcome?
After you have the answers in your mind, or written down, then assign
the task. Be clear on what exactly needs to be done, such as the
entire first draft for a Facebook ad, or a completed inventory of your
products for that month. Also be clear on the outcome, such as
completed inventory in a spreadsheet that will be presented at the
next meeting.

Rule 2: Delegation To The Right Person

Now that you are clear on what needs to be done, your next step is to
choose the right person for the task. The best person to choose is
someone who is brilliant at doing that type of work. It might be
someone you’ve hired for your team, or someone you are outsourcing
work to. Here are some more specific tips for making your selection:
● Delegate to someone who is task-focused and explain why this
task is important
● Delegate unusually challenging tasks to someone who has lots
of experience and would like something different than the usual
routine
● Delegate routine tasks to someone who is extremely organized

Rule 3: Always Have A Deadline

If you don’t set deadlines, nothing gets done. It doesn’t mean your
team is lazy. Sometimes they have so much to do that they need
deadlines to help them prioritize what is more important. The deadline
should be challenging but realistic.
Stretch the abilities of your team to see what they can do, but don’t
ask them to do the impossible either! If I am working with a new
person, and I need something done within two weeks, I tell them I
need it in a week.
I want to see if the new person can get the job done and find out early
on if they can work under pressure to complete urgent tasks.

Rule 4: Communicate Orally And Write Your Plan Of

Action
Sometimes I only give the core structure of what I want and I let my
mentees figure out a plan of action. I let them make their own
mistakes. By making mistakes, they learn their lesson. If I watch them
too closely, they won’t be able to grow.
So communicate your plan orally to your team and let them decide on
what to do. To check on their progress, ask them to write progress
reports. You can have them report once a week on Monday, or daily at
the end of the day. The frequency depends on the person’s skills and
their needs.
Clear communication will look like this: message sent to get the task
done, message received by the person doing the task, and message
acted upon, or completed.

Rule 5: People Don’t Do What You Expect, They Do

What You Inspect With Respect
You may be clear with your expectations, you may be choosing to
delegate to the best people for the job. In the end, people don’t
necessarily do what you expect them to do. That’s the tricky part
about delegation. They do what you check up on with extra attention.
So what you inspect, they do with respect.
It means you have to follow up to make sure the task gets done even
though it’s not your job.

Rule 6: Delegate Responsibility And Authority

As an entrepreneur, you may be willing to delegate responsibility but
you may find it much harder to delegate responsibility and authority.
You don’t want to give up authority because you fear loss of control.
You will ask someone to do a task but require that person to run
everything by you. In that case, you are micromanaging. You need to
be able to give other people some authority, even if it means letting
them make mistakes. It’s the only way they learn and the only way you
get off the hamster wheel.
Mistakes are okay as long as they don’t kill the company. Only
incompetence is not okay. You may be wondering what the difference
is between the two. Let me share a quick story.
The C.O.O. at my mentor’s company made a mistake that cost ten
million dollars. My mentor had a meeting with him about the mistake.
The C.O.O. thought he was going to be fired but my mentor said he
had just invested ten million in the guy’s education. He kept his job
and made sure he never screwed up again. The C.O.O. was
extremely loyal and over time made my mentor one hundred million
dollars.
So if you are afraid to give other people authority because you fear
they’ll make mistakes, you need to let them make the mistakes.
Otherwise, they won’t learn, and you will be very busy micromanaging
your team.

Rule 7: Give Praise, Feedback And Additional

Responsibilities At The End Of The Project
So the project has come to an end and you delegated tasks to other
team members. At this point, you want to provide feedback on how
they did. You want to be a coach and mentor.
Whatever you do, don’t yell at them. Praise them for what they did
right and then give feedback on what they can do better. That’s how
they learn.
Also, give them additional responsibilities for the next project. By
delegating more tasks, you free up your time for other aspects of your
business, and your team grows in experience.

Rule 8: Don’t Be A Perfectionist

If you are too much of a perfectionist, you will be the runner of a
marathon who never leaves the starting line. You will never get
anything started or finished. Your projects will never end because you
are going crazy with the details.
Effective delegation is about progress, not perfection. Start your
project, and do what you can, but don’t get stuck on all the small
details of what you need to complete.
When you go to the bank, the teller or the bank machine isn’t going to
ask if you completed your work perfectly. Your cheque just goes into
your account.
In the big scheme of things, if I’m facing a business problem that I find
overwhelming, I look at this photo on my wall. It’s a picture of the
universe. When I look at it, my stress disappears because I realize…
I’m just a molecule. What’s the big deal? Nothing matters. I’m only
here for 80 years. And then I’m not that important anymore. No one is
that important. So don’t place so much importance on yourself to finish
things.
Those are the rules of effective delegation. Now that you know them,
here are three quick tips on how to find the best people to share your
work projects.

Three Tips For Effective Delegation To The Best

People
Tip 1: Respect them
Work together as a team and respect the people you have delegated with
tasks. You can set high standards and expectations and be tough, and still
have respect.
In some areas, their expertise will be better than yours which is another
reason you should not be afraid to delegate. This is how your company will
grow.

Tip 2: Pay them well

If you pay them well, you will have the best talent. If you can’t afford to find
good people maybe your business model needs to be changed.
One Christmas I sent my contractors a bonus through PayPal. I got an
email from them thanking me. The bonus moved me up on their client list. I
want to represent 40% of their business so when I want stuff done, it gets
done.
Don’t delay paying your team members and contractors. If you want to
stand out with your clients and contractors, this is one way to do it. They
should be making you returns because of how you treat them.

Tip 3: Praise them

I praise team members and contractors and anyone else if they do
something well. Don’t just say, “Good job.” Be specific with your praise,
such as telling them that you liked how they handled the situation and you
appreciated the help.Those are three tips for delegating to the best people.
If you want to grow your business, then overcome your hesitation, and start
delegating tasks to free up your time.You may be clear with your
expectations, you may be choosing to delegate to the best people for the
job. In the end, people don’t necessarily do what you expect them to do.
That’s the tricky part about delegation. They do what you check up on with
extra attention. So what you inspect, they do with respect.
It means you have to follow up to make sure the task gets done even
though it’s not your job
TIME MANAGEMENT
Time management in nursing helps nurses organize and prioritize
patient care, internal administrative tasks, educational responsibilities
and personal obligations. Although nursing is a demanding profession,
nurses who develop techniques to better manage their time can achieve
balance in the face of time limitations.

How is time management important in nursing?

Time management is very important in the nursing profession; because the
time wasted by nurses, is the time not spent with the patient and it
has a negative effect on the quality of care given to patients (6).
Recent changes in hospital caregiving have been effective on the work of
nurses and the time used by them (7).

Time management in nursing helps nurses organize and prioritize patient care,
internal administrative tasks, educational responsibilities and personal obligations.
 Although nursing is a demanding profession, nurses who develop techniques to
better manage their time can achieve balance in the face of time limitations.
Nurses who learn how to effectively manage their time see worthwhile benefits.
According to the International Journal of Caring Sciences, effective time
management in nursing can result in:
● Greater productivity
● Reduced stress
● Improved efficiency
● More opportunities for professional advancement
● Greater opportunities to achieve career and life goals

10 TIPS IN TIME MANAGEMENT FOR

NURSES
1. Set Achievable Goals
The first step nurses must take to increase productivity is to set tangible
short-term and long-term goals. According to health care researchers, a
common mistake is “to allow long-term goals to be dominated by more
immediate and urgent short-term time demands.”
Nurses are encouraged to set career goals that are achievable within one
to three years (ex. completing higher education) as they work toward
long-term goals that can be completed in five to 10 years (ex. occupying
leadership positions or clinical directorships).
Working nurses or nursing students can also write down daily tasks based
on their perceived priority. Daily goals are more likely to change
throughout the day, but certain procedures remain constant for nurses
and can be solidified with routinization.

2. Implement Routinization
Routinization is a tool that helps nurses maximize time
efficiency. Routinization involves “repeating what works in your routine in
a systematic process so that the consistency helps with time
management.” Creating a consistent routine enhances time management
in nursing by eliminating unnecessary planning and turning essential tasks
into habits.
We engage in routinization every day when we wake up, shower and
brush our teeth; the same method can be applied to a nursing profession.
Routinization is designed for necessary daily responsibilities, from
collecting patient health histories to performing physical exams.

A nurse should make a list of routine tasks and sequence each task based
on the duration and prioritization of each item. Implementing a
step-by-step process for habitual duties can save time daily.

3. Start Cognitive Stacking

Creating a routine to manage predictable responsibilities is a clear
solution, but how can nurses manage unpredictable tasks and unforeseen
changes? According to the Lippincott Nursing Center, cognitive stacking is
a “workflow management process that helps nurses set priorities and
manage their time.”
Time management in nursing requires dynamic change management.
Working nurses can engage in cognitive stacking by determining what
level of care is necessary, what care is possible and how they can best
 deliver necessary care with their available resources and time. Nurses are

required to constantly reorganize tasks as higher priority items arise.

4. Take Time to Rest

Work-related burnout is a common risk among health care workers. A
recent publication found that more than 15% of nurses interviewed
reported feelings of burnout and 56% of nurses interviewed said their
health care facility was either slightly or highly ineffective at dealing with
burnout. Burnout can also result in adverse consequences, such as:
● Reduced quality of patient care
● Reduced quality of mental health among health care workers
● Increase in depression, anxiety and substance abuse among health care
workers
● Higher instances of error in a hospital setting
Time management in nursing is not solely concerned with increasing
productivity. It involves taking time to rest and recharge. Nurses must take
regular breaks and prioritize time off to prevent work-related burnout.

5. Delegate Work
After optimizing time management in nursing, nurses still ask for help and
rely on a network of collaborative health care workers. The American
Nurses Association (ANA) released a guide on principles for delegation to
help with time management in nursing.
According to the guide, delegation in nursing is “the assignment of the
performance of activities or tasks related to patient care to unlicensed
assistive personnel while retaining accountability for the outcome.”
 The guide instructs nurses on how to make responsible decisions about
delegating nursing responsibilities. The ANA says that a nurse’s decision to
delegate should be based on the following:

● The care complexity of the patient

● The availability of the worker accepting the delegation
● The type of supervision required
● The intensity of supervision required
Delegation works best when health care workers have a positive work
relationship, the ability to collaborate and use open communication.
Delegation should not be used when nursing decisions must be made by a
licensed RN. This tool for better time management in nursing can be used
for administrative tasks or routine procedures rather than nursing
responsibilities that rely on critical training.

6. Enroll in a Flexible Online Doctor of

Nursing Practice Program
Nurses learn how to manage competing responsibilities when they
balance their academic, personal and professional lives. Online Doctor of
Nursing Practice - Family Nurse Practitioner (DNP-FNP) programs teach
students time management in nursing tips while allowing students the
flexibility to complete the program on their terms.
Marymount University’s DNP-FNP program is offered on a part-time basis
so working nurses can complete an advanced nursing degree while
continuing to work full-time. Earning an advanced nursing degree is a
tangible way to develop time management in nursing skills in courses like
“Innovative Models of Care Delivery,” which teaches students how to
balance productivity with quality of care.

7. Use Clinical Placement Services

Finding the right clinical placement can be challenging and
time-consuming for nursing students. Nursing students can save time by
enrolling in a school that offers a placement upfront.

Marymount University has a team of Clinical Placement Coordinators that

work to secure every student a well-suited clinical placement by using a
connected network of healthcare professionals and resources. Students
can focus on immersing themselves in their placement rather than
investing their own time to seek one out.

Engaging in a clinical placement during nursing school also teaches

nursing students how to start applying theoretical concepts from courses
like “Leadership, Quality, and Ethics in Health Care” to real-world settings.

8. Build a Support System

Time management in nursing is an issue that working nurses have dealt
with for decades. It’s beneficial for nursing students to connect with their
peers, instructors and fellow working nurses to share different time
management in nursing strategies and build a solid support system.
 The importance of mentorship in nursing cannot be overstated. In
one case study, researchers found that a healthy mentor-mentee nursing
partnership resulted in the following benefits:
● Improved nursing staff retention
● Reduced isolation
● Increased opportunity for promotion
● Less transition time for learning
● Improved teaching effectiveness
Nursing students who have less transition time for learning and
experience improved teaching effectiveness can start applying learnings
to their practice. Joining a community of nursing experts and instructors
enables this success and reduces wasted time.

9. Stop Multitasking
As a working nurse or a nursing student, you likely have several items on
your to-do list, however, you must tackle the list one item at a time.
New research finds that not only is multitasking ineffective, but it can be
damaging to our brains. Multitasking reduces your ability to comprehend
 what you’re seeing and hearing by flooding the brain with competing
information. The study concluded that multitasking makes you:
● Less effective while multitasking
● Less effective after multitasking
● Less effective at prioritizing goals
● Less effective in the presence of other multitaskers
Nurses should reduce multitasking by prioritizing one task at a time.
Delegating certain tasks, prioritizing responsibilities and removing
distractions can all help curb multitasking.

10. Remove Distractions

The modern world is full of tempting distractions, from social media feeds
on smartphones to talkative coworkers in open-concept workspaces. If
you want to succeed at better time management in nursing you need to
remove common distractions.

Common interruptions and distractions in a healthcare setting include

phone calls, coworkers, questions from patients or patients’ relatives.
Distractions are especially dangerous in the administration of medication
and can lead to higher instances of error.
One study found that nurses can engage in “interruption handling
strategies” to maintain patient safety during medication administration to
mitigate errors. Nursing students can also remove distractions during
their studies by setting a timer and focusing on one task at a time.

CONFLICT MANAGEMENT
What is conflict management in nursing?
Learning conflict management strategies empowers nurses to
resolve conflict early and influence the work environment in
which they deliver patient care. The training shouldn't be limited
to the handling of interpersonal conflicts; it should include all
types of conflict commonly encountered in the healthcare setting.

What leadership style is best for conflict management in

health care?
The democratic leadership style is the most appropriate
approach that should be adopted and preserved for long-term
solution of nursing problems and managing conflicts.

What are the five conflict management strategies?

According to the Thomas-Kilmann Conflict Mode Instrument (TKI),
used by human resource (HR) professionals around the world,
there are five major styles of conflict
management—collaborating, competing, avoiding,
accommodating, and compromising

Conflict Management Strategies

What are the 5 conflict resolution strategies in healthcare?
 There are 5 common responses used in dealing with
conflict: forcing, accommodating, avoiding, compromising,
and collaborating. Healthcare managers should become
comfortable with using all of these approaches.
There is a menu of strategies we can choose from when in
conflict situations:

● Forcing: Using formal authority or other power that you possess

to satisfy your concerns without regard to the concerns of the
party that you are in conflict with.
● Accommodating: Allowing the other party to satisfy their
concerns while neglecting your own.
● Avoiding: Not paying attention to the conflict and not taking any
action to resolve it.
● Compromising: Attempting to resolve a conflict by identifying a
solution that is partially satisfactory to both parties, but completely
satisfactory to neither.
● Collaborating: Cooperating with the other party to understand
their concerns and expressing your own concerns in an effort to
find a mutually and completely satisfactory solution (win-win).

The 5 'Cs' Approach to Conflict Resolution in the Workplace

● Carefully listen. Every conflict has sides. ...
● Considerately look at the situation. When conflicts arise, emotions
and anxieties are heightened. ...
● Calmly discuss the conflicting perspectives. ...
● Conscientiously look at the facts. ...
● Cooperatively work together.
“As a conflict manager, the nurse leader must listen for what
the involved parties want and block out the noise of denials
and blame they may place on the other. Uncovering the real
desires of the involved parties may require private discussions
that probe into what is motivating them.”

Why is conflict resolution in nursing important?

Conflict resolution in nursing is necessary to create a productive and safe workplace
by:

Keeping patients safe

Nursing requires teamwork for effective patient treatment. Nurses communicate daily
with doctors, patients and other healthcare professionals. Interpersonal conflict can
occur at any level and challenge collaboration among teams. With strong resolution
skills, a healthcare team can communicate and work together better. Healthcare teams
who communicate effectively could reduce patient errors.

Boosting morale

Conflict-resolution skills can reduce stress and improve the workplace culture for staff
and patients. With proper conflict management, many nurses may feel happier and
more excited to work with their teammates.

Increasing efficiency

Many healthcare employees, including nurses and nurse managers, spend part of their
workdays resolving interpersonal conflicts. Strong conflict-resolution strategies can
help redirect time and energy back to patients and their families. When teams
collaborate better, healthcare organizations often see increased productivity.
Types of conflict in nursing
There are three main types of healthcare conflict:

Task-based conflict

Task-based conflict occurs when two healthcare professionals disagree on a technical

procedure. For example, a new nurse inserts an IV using a different technique than the
one the hospital uses.

Task-based conflicts can be the easiest to address because there may be one correct
answer. Though nurses may learn various techniques during their training, your
organization and nurse manager likely have set practices they expect each nurse to
follow. You can consult with your nurse manager to see which techniques they prefer,
then you or your coworker can adjust your practice as needed.

If there are multiple acceptable techniques, you and your coworker can discuss the
varying outcomes of both. Sometimes by collaborating and combining strategies, you
may be able to further help patients.

Value-based conflict

Value-based conflict occurs when two nurses have different personal values. For
example, you overhear another nurse talking about their personal beliefs, which
contradict your own.

Although different beliefs and values can create tension, the goal of conflict resolution
should be to reach a mutual, positive change. When communicating with a colleague
whose values you disagree with, try to be empathetic, keeping your common interests
in mind. You can focus on the things you have in common, such as your patients and
care practices, to keep the conversations productive.

Related: How To Be Empathetic in the Workplace

Interpersonal-based conflict

Interpersonal-based conflict occurs when two people's personalities or communication

styles strongly differ. Good interpersonal skills, such as patience, flexibility and
teamwork may help resolve some of these conflicts.
Interpersonal conflicts can sometimes involve nurse bullying. In these cases, it's
usually helpful for a mediator, such as a nurse manager or human resources
representative, to help resolve the conflict.

Related: Interpersonal Skills: Definitions and Example

How to resolve conflicts in nursing

You can resolve many conflicts in nursing by following these steps:

1. Assess the situation

Before you talk to the other party, decide whether the issue requires addressing. Pause
and consider how this problem is affecting you and your workplace environment. Ask
yourself what change you are hoping to achieve by resolving this issue.

2. Understand the conflict

Determine your major concerns and the desired outcome by asking yourself what you
want out of the conversation and why. Take time to think about the conflict from the
other perspective and what goals you have in common, such as efficient patient care.
Considering the other person's perspective can also help you relate to them more,
making it easier to reach a positive resolution.

3. Address the conflict promptly

After taking some time to reflect, address the issue as soon as possible. Try to discuss
the conflict while it is still relevant and before any tension can build between you and
your healthcare teammate.

4. Reach out to the other party

Set up a time to talk privately. Try to find a quiet, public place away from patients and
other coworkers so you can have an open dialogue. You can ask to speak with your
coworker in an empty conference room or break room.

5. State your concerns clearly and calmly

Try to remember that you and your colleague are both in nursing for a reason: to care
for patients. Approach the conversation with this shared goal in mind. You can keep
your body language positive by uncrossing your arms and making direct eye contact.
6. Focus on the issue rather than the person involved

Try to talk about the actions rather than the other person. Say, “I noticed the patient
chart was blank at the start of my shift,” rather than, “You never fill in the patient chart
right.” By focusing on the actions and issues, you can help keep the conversation
about resolution rather than blame.

7. Listen with an open mind

When the other person is speaking, listen actively. They may highlight a new
perspective. Nod and maintain eye contact while keeping a neutral, open facial
expression. Ask questions if you want more information or if you want to clarify
something.

8. Collaborate through dialogue

Once you both stated your initial thoughts, try to shift the conversation to your desired
outcomes and brainstorm steps to get there together. You can keep dialogue
productive by focusing on commonalities and solutions. Try to compromise if needed
to reach a shared goal.

9. Follow up with others if needed

If you and the other party are having difficulty reaching a compromise, consider
bringing in an outside perspective. Try to find a neutral mediator who can provide an
unbiased opinion. You may need to reach out to a manager for help if the problem is
unresolved at this stage.

10. Prevent future conflicts

Developing your interpersonal skills, such as empathy and active listening, can help
manage conflict in nursing. With improved communication skills, you might prevent
some conflicts from occurring.
 BUDGETING

What is budgeting in nursing?

A nursing budget is a systematic plan that is informed best estimate by
nurse administrators of nursing revenues and expenses. It projects
how revenues will meet expenses and projects a return on equity or profit.

Why budgeting is important in nursing?

Budget allows feedback of utilization of budget. Budget helps to identify
problem areas and facilities effective solution. Budget provides means for
measuring & recording financial success with the objectives of the
organization.

What are the 5 principles of budgeting?

These are as follows:
● Principle of Annuality. This implies that a budget is prepared every year on
annual basis. ...
● Rule of Lapse. ...
● Fiscal Discipline. ...
● Inclusiveness. ...
● Accuracy. ...
● Transparency and Accountability.
What are 4 methods of budgeting?
 ●

● There are four common types of budgets that companies use: (1)
incremental, (2) activity-based, (3) value proposition, and (4)
zero-based. These four budgeting methods each have their own
advantages and disadvantages, which will be discussed in more
detail in this guide. Source: CFI's Budgeting & Forecasting Course.

What is the purpose of budgeting in healthcare?

A healthcare budget is an important tool to understand where funds are
best spent and how to allocate capital among various departments
and projects. This enables healthcare organizations to be more efficient in
delivering effective and efficient patient care.

What are the steps in the budgeting process?

Six steps to budgeting
1. Assess your financial resources. The first step is to calculate how much
money you have coming in each month. ...
2. Determine your expenses. Next you need to determine how you spend
your money by reviewing your financial records. ...
3. Set goals. ...
4. Create a plan. ...
5. Pay yourself first. ...
6. Track your progress.