Preparing and Managing a Capital Budget 

NURS FPX 6216 Assessment 4 The current assessment is based on a 50-bed facility that is dealing with a nursing turnover problem as a result of a dismal work environment and low employee satisfaction and morale. In order to overcome the difficulties, a budget will be made for staff training and lounge reconstruction. It is based on justifications, budget management, and capital purchases. As a nurse leader, I plan to create a lounge for nurses where the employees can refresh themselves and get inspired. The idea is to set up a capital budget that will allow me to analyze the resources available and achieve successful outcomes.

Capital Acquisition and Assumptions 

One of the most significant organizational elements for planning and evaluating decisions regarding resource allocation in different projects is capital budgeting. The resource allocation is carefully considered and managed because these projects are one-time investments with long-term sustainability (Bosch-Badia et al., 2020). The quality of care in the tiny facilities depends on employee morale and productivity. The innovation seeks to be up-to-date, with a nurse lounge for working in such an inductive workplace to relax and easily access, as it will be a step-down facility from the intensive care unit to the general surgery floor. The scope of the renovation is focused on enhancing the depressing workplace that is driving nurses away. Based on studies, nurses who work in a good environment are more inspired since they are able to relate with people, feel valued, and have improved facilities. This results in reduced medical mistakes, improved patient care, and reduced readmissions (Maassen et al., 2021). The new approach is focused on providing the lounge with a new look and making the workers feel at ease. Medicated couches and chairs convertible and comforters will be included to accomplish this. Similarly, supplying lockers for nurses to store their personal items safely and vending machines and water to cater to their nutritional and hydration requirements.