The best practice is step 1. "Conduct a preliminary
investigation/inspection of the site before construction or demolition
begins". (Touchstone 2011). In regards to construction, they are
essentially saying to be aware of the work area and make sure that it
is viable for what you are attempting to do. When discussing a capital
plan in business, in order to succeed it is important to know what may
cause failure. Prevention would be the best method, and the ability to
mitigate any adversities is an important factor as well. This is all a part
of planning. In budgeting a corporation utilizes strategic planning. The
purpose of strategic planning is to look ahead at what future goals
may be and "identify the resources that will be necessary to get
there" (Nowicki 2022). Sometimes these resources already exists
within the organization and can be used as a foundation to build more
successful capital plans. The lesson taken from this is that it is best
practice is to make an initial assessment before jumping into a capital
plan. For example, it would not make sense to build a birthing center
in a senior community, but a medical supply center or pharmacy
would probably do very well in that area.
Touchstone, R. (2011, June 7). 5 Healthcare construction best
practices for occupied healthcare facilities. Becker’s Hospital Review.
Retrieved June 6, 2022, from
https://www.beckershospitalreview.com/hospital-management-
administration/5-healthcare-construction-best-practices-for-
occupied-healthcare-facilities.html
Michael Nowicki. (2022). Introduction to the Financial Management
of Healthcare Organizations, Eighth Edition: Vol. Eighth edition.
Gateway to Healthcare Management. Retrieved June 6, 2022 from
https://search-ebscohost-
com.ezproxy.snhu.edu/login.aspx?direct=true&db=nlebk&AN=30945
51&site=eds-live&scope=site.
