Article summarizing (reviews)/ Finance

Finance

Article Summaries

Name

Finance Dissertation

Date

Summary 1 : Financial planning for major initiatives , a framework for success

Outline

Key considerations in the investment of new facility

Objectives of embarking on the development of a new facility

Development costs

Effects of operating a new facility

Advantages

Disadvantages

The impact of the evacuated space and backfill cases

Resource planning considerations

Preliminary Financial Estimates

Service definition

Volume

Construction costs

Revenue

Expenses

Deal structure

Backfill

Accuracy of Cost accounting

information

Determine if there is a need for the employment of the expertise third-party consultants or otherwise

Project Summary

The project summary should include the following considerations

Facility size and approximate cost

Opportunity in terms of volume , market share , and revenue

Deal structure options

potential for using freed capacity for `backfill` cases

Open issues regarding the scope of services and any legal or regulatory questions

Timeline for a detailed analysis , construction , and potential opening date

Feasibility Analysis

Financial results for the new entity

An estimate of the net impact of the initiative on the hospital

Key Considerations of the feasibility Analysis

Decide whether knowledge of the potential initiative can be public

list of departments /functional areas and identify the staff member who can estimate staffing and other costs for each area

Provide a basic of the project

Ask department heads what will be the most difficult expense to estimate and what details they must clarify to estimate expenses

Collect all of these questions in a single issues log

Answer the questions in the log and disseminate them to the group (Harris , Nov . 2007

Significance of the article

The article shows how important financial planning is to the success of business endeavors . Proper financial planning points an organization to the right direction and helps the management group to make the right financial decisions . Key points to consider in financial planning are having the most accurate information at the right time and having the right strategy . In planning , not all issues or problems are financial in nature . However , the consequences of these issues or problems have a bearing in the company 's financial footing . This makes each minute detail an important component in planning (Harris , Nov . 2007

Lesson learned from the reading

One of the ways to guarantee a successful business is proper planning Proper planning entails painstaking attention to important details that will lead a company towards taking the right steps in the right direction (Harris , Nov . 2007

Important Questions raised by the Author

Here are some the important questions raised by John Harris . The first is , what strategic goals can we achieve with the initiative ? Before embarking on a new investment , one should consider the both benefits and disadvantages it may bring to the company before actually proceeding (Harris , Nov . 2007

Another important question raised is would I (the management ) benefit from outside assistance ? If so , for what purpose (Harris , Nov . 2007 People in management should consider utilizing third-party support or consultancy services when needed . There are instances where it is more...