Problem: Prioritize the capital projects submitted by Webster Health directors for funding in FY 2024. 34 requests totaling $5,028,257 have been submitted for funding. The Board of Directors of Webster Health has approved $2,000,000 to be spent on capital projects for FY 2024. Prioritize the requests based on the criteria described below, using the analytics discussed in class as your guide. The Board of Directors has established the following areas as priority areas of focus for FY 2024 capital funding: Cardiac Services, Orthopedic Services, Patient Safety, and Replacement/Obsolescence of Aging Equipment.
The Board has further directed individual capital requests be evaluated using the following criteria:
- Financial Performance - The project contributes positive financial performance through new services/revenue or reduced expenses
- Strategic Alignment - The project aligns with key strategic focus areas of the organization
- Obsolescence/Replacement - The project replaces equipment beyond its useful life
- Safety - The project helps rectify or prevent potential safety issues with patients, staff, or visitors