From the course: Project Management: Healthcare Projects
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Budget and funding management
From the course: Project Management: Healthcare Projects
Budget and funding management
- Facility updates, new buildings, advanced medical and technical equipment, and complex system implementations. These are typical healthcare projects. They tend to be multi-year exercises. Because of this, managing the budget for your healthcare project requires some effort, but with the right approach is doable. If government funding is part of your project, you likely will have complexity to manage. Those projects will obtain funding approval when the project commences, but you may have to rejustify the project to obtain the funds to the beginning of each subsequent financial year. If there's a significant change, for instance, a change of government policy, you may not receive future funding as planned. It's important to understand where the funds have been sourced and how they'll be allocated year to year. Now, let's switch to how you allocate and spend those funds once you receive them. It's possible that funds may come from a source which requires the funds to be used in a…
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