I think 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. b 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.
