OM007: Strategies for Maintaining the Project Budget

Strategies for Maintaining the Project Budget


In this Work Product Assessment, you will develop a project plan for a current or future healthcare-related project from your workplace.

To complete this Assessment:

·         Download the Academic Writing Expectations Checklist to use as a guide when completing your Assessment. Responses that do not meet the expectations of scholarly writing will be returned without scoring. Properly formatted APA citations and references must be provided, where appropriate.

·         Be sure to use scholarly academic resources as specified in the rubric. This means using Walden Library databases to obtain peer-reviewed articles. Additionally, .gov (government expert sources) is a quality resource option. Note: Internet and .com sources do not meet this requirement. Contact your coach or SME for guidance on using Library Databases.

·         Carefully review the rubric for the Assessment as part of your preparation to complete your Assessment work.

This Assessment requires the submission of two (2) files. Save your files as follows:

·         Save Part I, III, IV as OM007_1_firstinitial_lastname (for example, OM007_1_J_Smith).

·         Save Parts II as OM007_2_firstinitial_lastname (for example, OM007_2_J_Smith).

You may submit a draft of your assignment to the Turnitin Draft Check area to check for authenticity. When you are ready to upload your completed Assessment, use the Assessment tab on the top navigation menu.


Before submitting your Assessment, carefully review the rubric. This is the same rubric the assessor will use to evaluate your submission and it provides detailed criteria describing how to achieve or master the Competency. Many students find that understanding the requirements of the Assessment and the rubric criteria help them direct their focus and use their time most productively.


Access the following to complete this Assessment:

·         Project Roles and Responsibilities Matrix Template

·         Academic Writing Expectations Checklist

This assessment has four parts. Click each of the items below to complete this assessment.

Part I: Project Management Plan

It is suggested that the project you select be manageable in scope and not overly complex. You will assume that the objectives and scope of the project you have selected have been vetted and approved. The next step is to develop a project plan. You will develop a project management plan that will walk through key steps of the project management process. The objective of this Assessment is not a deep dive into the full intricacies of project management. Rather, it is to ensure that as a healthcare administrator or manager you have a solid theory and practical knowledge of key aspects of the project management process.

·         Create a Project Management Plan (3“5 pages total) which includes the following:

o    Project description, purpose, and objectives: The project description delineates key aspects of a project.

§  In 1–2 pages of your project plan:

§  Describe the project and explain the purpose and justification for the project.

§  Explain the SMART goals and objectives of the project.

§  Describe the requirements for the project.

§  Explain the tangible measures for acceptance criteria used to achieve project success.

o    Project Scope: The project scope defines the scope of the project and how the scope will be managed.

§  In 3 pages of your project plan:

§  Summarize, in detail, the expected deliverables for the project.

§  Explain the acceptance criteria for a project.

§  Explain the project assumptions, risks, and constraints.

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Strategies for Maintaining the Project Budget
Strategies for Maintaining the Project Budget

·         Roles and Responsibilities: By definition, a project is a unique undertaking with a beginning and an endpoint. One responsibility of management is to determine who will be a part of the project team (including the designation of a project manager). Ask yourself, “Who needs to be on this team to ensure that project goal are successfully met?” Consider, as well, the importance of communication among team members. What communication needs will each individual have? With whom will they communicate and how?

o    Using the “Project Roles and Responsibilities Matrix” template, list the names* and titles of all individuals or entities involved in the project. Indicate whether each stakeholder is internal or external to the project organization. *For privacy purposes, please use pseudonyms.

§  Identify the internal and external stakeholders for a project.

§  Distinguish the roles and responsibilities of the project stakeholders.

§  Explain how to communicate with project stakeholders.

Part II: Project Schedule

There are many different methodologies for planning and scheduling a project. For this Assessment, you will develop a Gantt chart that depicts key project activities, time allotted for each activity, and when each activity is scheduled to begin. To do so, you will need to consider dependencies. Some activities will be sequential, others may be simultaneous, and some may overlap.

·         Note: You may create your own Gantt chart using Excel, or download a template offered by Microsoft at

o    Using a Gantt chart construct a project schedule.

o    In two to three paragraphs of your project plan, explain the estimating techniques used to develop your project schedule. Provide rationale for why these techniques will be effective.

Part III: Strategies for Maintaining the Project Budget

A project begins with an approved budget. Too often, however, unless the budget is meticulously managed, budget overruns occur. Healthcare administrators and managers must ensure that the project management process includes careful oversight on spending.

·         Describe the project budget key success factors and dynamics including the following (2-3 pages):

o    Analyze at least three strategies that can be applied for due diligence and maintaining oversight of the project budget.

o    Explain at least two challenges each of these strategies might present and identify opportunities for improvement.

o    Compare the positive outcomes that might result from each strategy.

Part IV: Risk Management, Quality Management, and Sustainability

Even the most straightforward and well-planned project can be impacted by unexpected circumstances. Anticipating risks is a key part of project management, and one that a healthcare administrator or manager must ensure is taken into consideration by the project team. Additionally, if not carefully monitored, budget and time constraints can take a toll on the quality of a project.

·         Create a 2- to 4-page risk management and quality management plan, which includes the following:

o    Describe how you plan to manage risks for your project.

o    Analyze strategies for managing quality within your project.

o    Analyze strategies for the sustainability of your project.

o    Describe at least two tools and/or techniques you plan to use to manage quality and defend why you chose those tools.

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All the Best, 

Cathy, CS