Flexible budget system a practical approach to cost management.
Flexible budgeting is a relatively simple way to introduce department heads to the complex world of cost management. Managers use a flexible budget system to set financial targets for their department and track progress towards those goals. This system gives instant feedback on a department's performance in terms of staffing hours and dollars. Full cooperation is key to a flexible budgeting system's success. Department managers must be involved in every step of the process--from educating and training staff members to determining cost variables.
D002017:Budgets / Q000379:methods*; D003365:Costs and Cost Analysis; D004219:District of Columbia; D005376:Financial Management / Q000379:methods*; D005377:Financial Management, Hospital / Q000379:methods*; D006746:Hospital Bed Capacity, 500 and over; D006748:Hospital Departments / Q000191:economics*; D010561:Personnel Staffing and Scheduling / Q000191:economics; D012984:Software; D014481:United States