Funding & Administration Track

Capital funding and budgeting impacts all aspects of capital projects from planning to completion. Increasingly limited funding, long-term budgeting pressures, and unexpected project costs, there are many factors to consider when prioritizing and selecting capital projects. Topics will include case studies on managing project costs creatively, capital equipment budgeting strategies, and best practices for gaining project funding. 


Monday, February 17, 2020
1:00 PM - 2:15 PM
Savannah A, 10th Floor

Healthcare construction projects have a fixed budget that often doesn’t cover every cost. This session will cover strategies to manage new construction project costs, including scope control, time management, standardization versus customization and much more. This panel of healthcare executives who recently finished major construction projects will discuss their insightful take-aways on managing project costs.  

Learning Objectives: 
1. Describe how to evaluate each expenditure on what you can afford and not only on what is desired.  
2. Explain how change management and scope control can reduce unnecessary costs.  
3. Identify strategies to determine where choosing standardization over customization can reduce costs. 
4. Evaluate how consistency and equity are key factors in project cost planning.   


Monday, February 17, 2020
2:30 PM - 3:45 PM
Savannah A, 10th Floor

Capital budgeting is an integral component of capital equipment planning. Determining where and when to spend capital budget dollars is important to growth and development of all hospitals and health systems. Yet developing and sticking to a capital budget is challenging for many healthcare organizations. Learn best practices for prioritizing projects, planning for unexpected expenses and creating an effective budget.  

Learning Objectives: 
1. Explain the relationship between capital equipment planning and budgeting. 
2. Outline how individual capital equipment project fit into long-term budgets.   
3. Evaluate the best strategies to handling common unexpected costs. 
4. Describe how you can develop an effective budget. 

Monday, February 17, 2020
4:00 PM - 5:15 PM
Savannah A, 10th Floor

The clash between life cycle and first cost never ends. Design, construction, operations, and finance stakeholders all have differing viewpoints on how to manage these costs. Budget cost models can be helpful to mediate these discussions. In this session, attendees will discover how to effectively utilize budget cost component models to accurately develop a deliverable project budget.

Learning Objectives:
1. Learn why life cycle cost and first costs are equally important and not mutually exclusive.
2. Explain the incentives and disincentives that created the conflict and means and methods to resolve it.
3. Understand the various Cost Model Components that make up the budget and how to approach them at the various stages of budgeting to ensure that they meet the needs of the
development of the financials and funding models.
4. Identify how to approach buying out the project to keep it within the financial project goals.