Project Management Healthcare, Medicine, Nursing Essay

Project Management Healthcare
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Project Management Healthcare
Project management involves continuous planning, organization, and oversight of the work of specific staff aiming to improve the outcomes of a particular task, which in turn aids in achieving organizational goals (Baum & Benjamin, 2017). The management of a program does not revolve around the daily routines of an institution. Thus, it focuses on specific work with predetermined results and particular objectives. Project management is essential in all industrial sectors, including healthcare facilities (Baum & Benjamin, 2017). Program management in healthcare settings revolves around projects that aim at improving the functionality of the medical facility. According to Baum and Benjamin (2017), the healthcare industry's continuous evolution creates the need to develop money-saving strategies that do not compromise quality patient care. As a result, hospital staff and stakeholders have to keep executing programs that improve their patient delivery skills. The healthcare sector organizations' internal and external challenges have to develop techniques that will ensure their long-term projects' sustainability.
Project management is essential in improving profitability without compromising the quality of healthcare (Cobelli, 2020). Program management improves profitability by creating better financial estimates. Inaccurate cost estimates lead to unnecessary spending in any healthcare department (Schultz et al., 2020). If the time estimates are inappropriate, it results in excess expenditure, which is costly. Similar, if the time window for a program is too short, it will be difficult for the organization to understand the estimated budget costs. Any increase in project costs from the original estimates reduces the returns on investment, consequently decreasing the healthcare organization's profit margins. A delay of a program that enhances its competitive advantage will equally delay sales revenue, thus affecting profitability (Schultz et al., 2020). Project management ensures that a specific program targeted towards improving patient care services does not slow; therefore, it does not affect revenue generation (Cobelli, 2020). Besides, project management reduces program costs by ensuring that the price fits within the budget if the program depends on investors' external funding. This way, the organization does not spend additional income on ensuring that the program runs to completion. Their spending could ensure the procedures work correctly as intended by only offering solutions to a few challenges arising during their work.
Program management improves the understanding of the facility's resource capability (Baum & Benjamin, 2017). Planning for resource capability is an essential aspect of any service delivery company. Resource planning capability ensures that the organization can analyze the effects of the projects or services in actual time, allowing business owners to understand and control customer expectations (Doost Mohammadian & Rezaie, 2019). Understanding the clients' expectations allows the organization leaders to improve business profit margins, improve customer care services, and cut...