Create a 3- to 5-year financial plan to implement the goals and objectives created in Part 2 of your strategic plan. The deliverables for the financial plan include a projected budget created in Microsoft® Excel® and a report in Microsoft® Word that clarifies and explains the financial plan.
Section One: Projected Budget
Create a projected budget.
- The projected budget should be a Microsoft® Excel® spreadsheet that contains a 3- to 5-year financial projection that includes detailed expenditures, income, contingency, gain or loss, capital outlay, and ROI (if applicable).
Include budget strategies to increase volume and budget assumptions.
Section Two: Financial Plan Explanation
Write a 1,050- to 1,400-word narrative discussing the fiscal details of the plan and the assumptions that were used in developing the projected budget.
- Include all the elements required in the projected budget.
- Include capital expenditure planning and contingency plans for unexpected events.
- Budget summary: When explaining your budget:
- Describe the organization’s current business model.
- Evaluate the impact of internal resources and financial capabilities on the business model implementation.
- Determine how the organization’s internal resources and financial capabilities affect your financial plan.
- Determine how they will affect implementation of the plan.
- Explain the details of the budget assumptions and the strategies to increase volume.
Cite at least 4 peer-reviewed, scholarly, or similar resources to support your information.
Format your paper according to APA guidelines.
Submit your assignment as Microsoft® Excel® and Microsoft® Word attachments.
Preopening Budget Example
|University of Phoenix Material|
|Sample Strategic Planning Spreadsheet|
|Purchase &||Hire & Train||Strategies to Increase Volume|
|Install||Staff||Purchase and install a new MRI.|
|MRI||Train or hire additional staff to operate new MRI.|
|Revenue||Year 1||Year 2||Year 3||Increase marketing to physicians.|
|MRIs||$8,000,000||$8,800,000||$9,680,000||Increase in revenue/year||10.00%|
|General diagnostic||$6,000,000||$6,600,000||$7,260,000||Increase in salaries/year||4.00%|
|Interventional||$12,000,000||$13,200,000||$14,520,000||Increase in supply expense/year||5.00%|
|Travel as a % of revenue||0.50%|
|Total revenue||$28,000,000||$30,800,000||$33,880,000||Maintenace as a % revenue||1.00%|
|Contracts as a % of revenue||2.00%|
|Expenses||Marketing as a % of revenue||0.50%|
|Misc as a % of revenue||1.00%|
|Salaries||$18,200,000||$20,020,000||$22,022,000||Salaries as a % of revenue||65.00%|