Conduct a cost-benefit analysis using a template, and explain the concept of opportunity cost and how a cost-benefit analysis aligns with organizational needs. Recommend a plan of action based on the cost-benefit analysis.
Note: The assessments in this course build upon each other, so you are strongly encouraged to complete them in sequence.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
- Competency 1: Develop financial strategies to address dynamic environmental forces. (L24.2, L24.5, L17.2)
- Recommend a plan of action based on a cost-benefit analysis.
- Competency 2: Analyze the cost and revenue implications for organizational changes due to environmental forces. (L18.2, L12.1)
- Analyze the cost and benefits of purchasing equipment for a health care organization.
- Explain the concept of opportunity cost.
- Explain how a cost-benefit analysis aligns with organizational needs and future growth.
- Competency 4: Communicate in a manner that is scholarly, professional, and consistent with expectations for professionals in health care administration. (L6.1, L6.2, L6.3, L6.4)
- Write content clearly and logically with the correct use of grammar, punctuation, and mechanics.
- Format citations and references using the APA style.