Impact of Finance on Program Success

Impact of Finance on Program Success

Money is an important resource, but it is not the only resource that matters when it comes to program design and evaluation. In fact, having sufficient money, in itself, does not equate to having a quality program or even a financially successful one. Financial strategy dictates how money is spent and allocated. With this in mind, what are the most important considerations to bear in mind as you design your program? Write on:
• Review the financial analysis information presented in the Learning Resources.
• Conduct additional research of your own to further your understanding of the use of cost-effectiveness, cost-utility, and cost-benefit. Feel free to share resources that you find beneficial with your colleagues.
• How do these concepts apply to your program planning and help to facilitate quality program outcomes? Write a cohesive scholarly response that addresses the following:
• Which method of financial analysis is most appropriate for your program? Provide your rationale.
• What are the financial implications of not addressing the problem you have identified for your target population?
• What are the differences between the long-term and the short-term implications of not addressing the problem?
• How does your selected financial analysis strategy relate to the quality of program outcomes?
Resources
Robbins, L.B., Pfeiffer, K.A., Weolek, S.M., & Lo, Y. (2014). Process evaluation for a school-based physical intervention for 6th and 7th-grade boys: Reach, dose, and fidelity. Evaluation and Program Planning, 42, 21-31 doi.org/10.1016/j.evalprogplan.2013.09.002
Schalock, R.L., Lee, t., Verdugo, M., Swart, K., Claes, C., van Loon, J., & Lee, C. (2014). An evidence-based approach to organization evaluation and change in human service organizations evaluation and program planning. Evaluation and Program Planning, 45, 110-118.
U.S. National Library of Medicine. (2008). HTA 101: IV. Cost analysis methods. Retrieved from http://www.nlm.nih.gov/nichsr/hta101/ta10106.html Published by the National Institutes of Health, this site offers an explanation of the types of cost analysis including a comparison of cost-utility, cost-effectiveness, and cost-benefit.