Expert spotlight: Prep before presenting your budget plan
Nurse Leader Weekly, December 29, 2008
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This week, learn how deliver a successful budget presentation with expert advice from KT Waxman, MBA, RN, president and chief executive officer of KT Waxman and Associates, San Ramon, CA.
Q: How can I prepare myself before presenting my budget plan to a supervisor?
A: Practice your budget presentation with a peer or the chief nurse executive before presenting it to a supervisor or a committee. This person can ask questions, which allows you to prepare answers before heading into the formal presentation. Doing a practice presentation also allows you to strengthen your presentation and public-speaking skills.
You will most likely be asked whether your unit met its goals and objectives from the previous year. Know the answer to this question and explain the current status of goals and objectives and the changes you plan on making.
Look at the numbers for the year-to-date (YTD) current budget. The committee will want to know whether the YTD or actual numbers are above or below what you budgeted. Be able to explain the variances.
Monitor your budget monthly to spot trends and variances early. This will enable you to stop problems in their path and know where opportunities lie.
Editor's note: Do you have a question for our experts? Email your queries to editor Keri Mucci at kmucci@hcpro.com and see your name in print next week! In the meantime, head over to our Web site and view a growing collection of advice from our experts.
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