budget is a plan; revenue and expenses are forecasted by leaders for future activities. However, it’s common for unexpected events to occur. Unanticipated staffing challenges, pandemics, and supply shortages are examples of unanticipated occurrences that impact the budget. Therefore, a nurse leader is responsible for ongoing budget monitoring using various tools to ensure revenue and expenses are balanced. Variance analysis is a method to manage the budget and make needed changes on a concurrent basis.
Imagine you are a nurse manager on a 20-bed medical-surgical unit.
Review the most recent monthly Statement of Operations: Budget Variance Report.
Write a 525- to 700-word summary of the variance report in which you:
Identify variances present for the past month.
Discuss any additional data needed to fully explain the variances (e.g., staff shortages, supply shortages, infection outbreak).
Develop a strategy for correcting the variances.
Cite at least 3 professional references to support your assignment.
