Posted: February 16th, 2022

Factors influencing farmers’ adoption of best management practices

 

 

 

 

 

Planning and Managing Resources

 

Project management plan for contributing to the effective management of free of resources to expand ICU for North Middlesex Hospital

Concepts of project management to free up recourses. 

Project management is an effective process of leading every activity for achieving organisational goals. In health care organisations, the management has to utilise the maximum amount of funds in that department, which is most required for business development. Moreover, North Middlesex Hospital can focus on resourcing funds from the other department to the ICU during the Covid pandemic. Thus, freeing up resources will be beneficial for expanding the ICU department within the hospitals. In addition to this, this medical staff can provide critical care and acute life support to the Covid patients through expanding intensive care units. 

 Benefits and demerits of free up resources 

The funding rising in the ICU department is an essential aspect of the business development of North Middlesex Hospital. In addition to this, the hospitals’ management can monitor the ill patients’ health condition in the ICU rooms (fao, 2021). Thus, fund rising will help management to expand ICU rooms so that they can provide advanced treatments to the Covid patients. The organisation can purchase special advancedadvanced types of equipment that will aid patients in critical health conditions. On the other hand, these free up resources strategies may disrupt the other departments within the hospital due to lack of funds. Thus, the cost of the advanced treatment will become high for the patients because of using expensive equipment. 

Implications of requirements for free up resources

Short term resources 

The short term recourses define the financing of the business from short term resources which will generate cash flows within the organisation for short-term periods. However, the examples of short term resources are trade credits, secured loans, commercial bank loans and commercial paper, bank overdrafts and others. North Middlesex Hospital can use these resources for ICU expansion. 

Medium-term resources

The medium-term resources describe that the organisations have to repay the loans within two and three months to the lenders. Moreover, examples of medium-term recourses are borrowing from commercial banks, public deposits and lease financing from financial institutions (orkney, 2022). These types of resources should be used by North Middlesex Hospital. 

Long term resources 

The long term resources mean that the organisation has to repay the loans within one year. However, North Middlesex Hospital can take funds from band loans, bonds, a form of debts finance and leasing from financial institutes, which are part long term resources. 

Explanation of environmental factors for free up resources 

Policies 

The management of North Middlesex Hospital can follow its policies in fundraising during the pandemic. The organisation can focus on specialised agreements or contracts with a financial institution for fundraising. Along with this, the management should identify the existing resources within the organisation. The hospital management can conduct capital campaigns for increasing funding which will be beneficial for expanding ICU rooms during the pandemic.

Current climates 

The UK government has provided funds to health care organisations across the country. Along with this, North Middlesex Hospital can apply for the getting funds from the governmental authority to collect the larger funds. However, the UK’s health care sector is funded by the taxation policy. The care worker medical staff has been eligible for applying for the government schemes visa during the Covid pandemic. Besides that, the UK government has provided £462.5 m in the health care industry for recruiting workforce and retention funds (gov, 2021). Thus, North Middlesex Hospital can get these funds which will help the organisation to provide adequate training to the medical workers. However, these efficient workers will work in ICU departments within the organisation. 

Relationship between project management and management of resources

The resource is the main thing in creating a project, and without a proper and adequate amount of resources, no project can be completed. The role of project managers is very important in that case. They play an effective role in managing the time and the fund or resources to complete the entire project within time (Hirschmann et al., 2020). In that context, the management of the North Middlesex Hospital has decided to expand their ICU in order to provide more facilities and advantages to their patients or customers. To achieve this mission, the management has decided to manage the fund by reducing expenses in other departments. Moreover, they have decided to manage and reduce funds allocated for non-essential purposes. The management of North Middlesex hospital has implemented some strategies to reduce their electric bill. 

Apart from that, the management is responsible for setting clear objectives and goals for their workers who are involved in the project work. The workers must be provided with proper feedback and appraisals based on their work. At present, various tools are used to manage the performance of projects. Performance management can be divided into planning, coaching and performance review. 
 

Factors influencing the decision-making process of North Middlesex Hospital

North Middlesex Hospital has taken an initiative in which they want to expand their ICU, which takes special care of their patients. Due to the pandemic situation, there has been an influx of patients who are visiting the hospitals. Hence, to cope with this, the hospital’s management has decided to undertake several changes among the overall strategies. They have decided to effectively plan for bringing changes in the overall organisation. Thus, the management of the respective hospital has, by the use of effective strategy has developed an efficient plan in order to take care of the safety as well as the health measures of the patients in the hospitals. Different factors can influence the decision-making process. These factors are discussed below:

Accountability- The management needs to maintain and calculate the accountability to maintain a qualitative fair and enhanced performance within the correct time period. The accountability procedure of the management of North Middlesex Hospital needs to regulate the controlling of the costs, productivity, emergency operations and many others. This is one of the factors which impacts the overall decision-making process since they are required to take accountability for all the activities within the organisations(Liu, et, al., 2018). 

Financial Factors- In order to maintain the cost incurred due to the proposed initiatives, the management, by using the efficient strategy, needs to maintain the financial reports and the structure in which all the expenses will be calculated and analysed so as to determine the total allocation of the costs that will be needed for enhancing their initiatives respectively. The management of North Middlesex Hospital may approach various stakeholders or other financial institutions for further investments. Finances are one of the factors which ensure that the organisation is able to plan all the required activities accordingly. The budget is one of the factors which is required for the accomplishment of all the activities. 

Risk Factors- The management, by using its effective strategy, needs to predict and stay ready for various unconditional risks like fire, thefts, and many other risks that may affect the internal environment, including the patients and the staff members regarding the doctors as well hospital respectively. Thus, the management of North Middlesex Hospital needs to take effective steps like insurance or putting CCTVS and many other factors as well. The risk factors are one of the important factors which the organisations take care of to ensure the overall efficiency of the process(Smith, et, al., 2019, pp.69-90).

 

Conclusion 

The above report has basically focused on planning and managing resources within the organisation. It has discussed the main concepts which are required for the planning of the resources. This has been discussed within the organisational context of the Intensive Care Unit of North Middlesex Hospital is planning to expand its operations and are implementing different strategies which are required for expanding the operations. Further, the report has focused on analysing the factors which are responsible for influencing the overall decision-making process of the individuals. Apart from this, the importance of project management has also been discussed in relation to the effective use of resources, and the relationship between the planning and the management of the resources along with the performance of the individuals have also been discussed. This also ensures that the organisation is able to successfully expand its operations and are able to minimise the rate of conflict as well. 

 

Recommendation 

North Middlesex Hospital can face various types of difficulties in increasing its funds. Thus, it is recommended that the organisation utilise larger funds in the ICU department rather than another hospital department (Waqanivalu and Cawley, 2018). In addition to this, the management must take funds from band loans, bonds, a form of debt finance, and leasing from financial institute to get a minimum of one year to repay the loans (Johnson et al., 2018). Besides that, the management has to take funds from the short term resources such as trade credits, secured loans, commercial bank loans so that the required cash flow will always be maintained within the organisation. 

 

 

 

References 

Books and Journals 

Liu, T., Bruins, R.J. and Heberling, M.T., (2018). Factors influencing farmers’ adoption of best management practices: A review and synthesis. Sustainability, 10(2), p.432.

Smith, M., Busi, M., Ball, P. and Van Der Meer, R., (2019). Factors influencing an organisation’s ability to manage innovation: a structured literature review and conceptual model. Managing Innovation: What Do Thow, A.M., Downs, S.M., Mayes, C., Trevena, H., Waqanivalu, T. and Cawley, J., 2018. Fiscal policy to improve diets and prevent noncommunicable diseases: from recommendations to action. Bulletin of the World Health Organization, 96(3), p.201.We Know About Innovation Success Factors?, pp.69-90.

Johnson, J., Hall, L.H., Berzins, K., Baker, J., Melling, K. and Thompson, C., 2018. Mental healthcare staff well‐being and burnout: A narrative review of trends, causes, implications, and recommendations for future interventions. International journal of mental health nursing, 27(1), pp.20-32.

Hirschmann, M.T., Hart, A., Henckel, J., Sadoghi, P., Seil, R. and Mouton, C., 2020. COVID-19 coronavirus: recommended personal protective equipment for the orthopaedic and trauma surgeon. Knee Surgery, Sports Traumatology, Arthroscopy, 28(6), pp.1690-1698.

 

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