Think of a purchase you are planning to make or have recently made. How much did it cost? How much per year do you think you will save from this purchase, and for how many years will you get these savings? Estimate the present value of the savings, and subtract the cost of the product.

Reading about Net Present Value (NPV) for this module, you probably thought of it as a technique used only by corporations. But the technique may also apply to your own purchases.

You may have heard a salesperson tell you, “This product pays for itself!” While this is probably rare for most products, sometimes there are future savings from certain products that will offset some of the costs. For example, if you buy a newer, more reliable, and more fuel-efficient car, it may save you on repair bills and gas prices compared with your old car. If you are a coffee connoisseur, buying a $100 espresso machine might save you money compared with constantly buying $4 drinks at your local Starbucks.

Think of a purchase you are planning to make or have recently made. How much did it cost? How much per year do you think you will save from this purchase, and for how many years will you get these savings? Estimate the present value of the savings, and subtract the cost of the product. Note that it is rare that any purchase will “pay for itself” (e.g., have a positive NPV). But are the savings enough that the product becomes a lot “cheaper” and more worthwhile for you to buy?

In your workplace, what standards and outcome measures are utilized, give three examples. Select at least one of these measures, and specifically identify how the data is collected. Then, describe how the findings are used to increase the quality outcomes. What comparable groups either internal or external are used for benchmarking performance in healthcare facilities?

In your workplace, what standards and outcome measures are utilized, give three examples. Select at least one of these measures, and specifically identify how the data is collected. Then, describe how the findings are used to increase the quality outcomes. What comparable groups either internal or external are used for benchmarking performance in healthcare facilities? If an error is made in the healthcare workplace, how is the facility assessed for blame? What is the role of the nurse manager with regards to standards, outcomes, benchmarking, and errors?
You are a new nurse manager in an outpatient clinic and employee evaluations are due yearly. Plan how you will proceed.
What components of the RN’s job should be evaluated?
What positive forces are present in an evaluation? What negative forces will you have to overcome?
What innovative or creative way would you attempt to provide direction or improvement? How would you terminate the session?
What is the responsibility of the employee?
Think back to the organization for which you have worked the longest. How many of Deming’s 14 principles for Total Quality Management are used in that organization? Do you believe some of the 14 principles are more important than others? Why or why not? Could an organization have a successful quality management program if only some of the principles are used? Describe a quality management project that you were involved in