Strategic Project Investment
You will put yourself in the role of a CEO of a health care facility and evaluate two proposals recently made to you: The Creation of a Cardiac Catheterization Laboratory and an On-site Daycare free to employees. You have to determine where you should allocate resources.
Define what you need to see in each proposal for them to make their case, compare and contrast the benefits and risks of each and make a determination about which project is the best allocation of resources for your institution.
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Strategic Project Investment
Assignment Directions:
For this Assignment, you are required to write a 1,000–1,250-words on resource allocation.
Must include:
- A detailed summary defining resource allocation
- A description of each pitch/project
- A description of questions you have or more information you need to make a decision
- A description of the analysis you used to make your determination.
- Which project do you support and why (does it support organizational effectiveness or efficiency? Does it improve patient outcomes, satisfaction or access, does it decrease turnover, etc.)
Cite at least four references to validate your statements. Prepare this assignment according to the APA guidelines with in-text citations.
Introduction: Understanding Resource Allocation
Resource allocation refers to the strategic distribution of an organization’s limited resources—financial, human, and physical—toward initiatives that best support its mission, improve outcomes, and ensure long-term sustainability (Shi & Singh, 2019). In health care, resource allocation decisions are particularly complex, as they must balance cost-efficiency with patient safety, workforce well-being, and community impact.
As the CEO of a mid-sized urban hospital, I have received two well-intentioned proposals that require significant resource investment: (1) the creation of a Cardiac Catheterization Laboratory (Cath Lab), and (2) the development of an on-site daycare center offered at no cost to employees.
Project Summaries
1. Cardiac Catheterization Laboratory
The proposed Cath Lab aims to enhance the hospital’s cardiovascular services by providing diagnostic and interventional cardiology procedures (e.g., angiography, angioplasty, and stent placement). The project promises to improve patient outcomes through timely cardiac intervention, attract high-revenue procedures, and strengthen the hospital’s market competitiveness.
