NR 631 Week 7 Discussion; Controlling Risks and Project Budgets

You'll recall that as part of developing your project charter (Week 2), you submitted apreliminary budget. This week's lesson went into much greater depth on the financialaspects of a project. This is a good time to look at your preliminary budget, considerwhat was presented in this week's lesson, and reflect back on other financial conceptsandtoolsyoulearnedthroughoutthenurseexecutivetrack.Usethefollowingquestionsasthebasisforyourdiscussionthisweek. • Whatvariancescanyouidentifyonyourprojecttodate?Ifyouhadtoreportonthereason forvariances+/-10%ofbudget, whatwouldyourreportsay? Think back to lessons and discussions on forecasting. What adjustments do you feelyouneedtomake toyourprojectbudgetbasedonyourprogresstodate andwhatyouforesee moving forward? What changed to cause you to have to adjust (forecast) theprojectbudget?