Description: To reflect on the financial timeline for reducing the relatively high nurse staffing costs
| Activity | Resources | Metrics/Status | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 |
| Engaging 8 travelers at a cost of $73.00 per hour for 144 hours a month | Traveler nurses | A total of 8 traveler nurses per hour | ||||||
| Hiring 2 nurses per month at a cost of $45.00 per hour for 144 hours a month | Hired nurses | A total of 2 hired nurses per hour | ||||||
| Engaging 8 newly hired staff nurses to replace the 8 travelers with a cost savings of $32,256 | Hired staff nurses | At the end of the 6 months, having a total of 8 newly hired staff nurses |
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Gant Chart Synopsis
A Gantt chart refers to a project management tool developed by Henry Gantt for production control in 1917 (Davidson, 2000). Essentially, the tool is often used to quantify the amount of work done in a production process within provided time limits and in comparison, with pre-designed work plans. In particular, the Gantt charts are very convenient for project planning and scheduling as they help examine the project lead times and required resources (DuBrin, 2011). In addition, they also come in handy in managing the various dependencies amongst the specific project tasks (Timmreck, 2011).
In the above scenario aimed at helping reflect on the financial timeline for reducing the relatively high nurse staffing costs, the Gantt chart would be very handy in completing the specific tasks (Davidson, 2000). Currently, for instance, the institution is engaging eight traveler nurses at a cost of $73.00 per hour for 144 hours a month. This totals to $84,096 per month, which appears to be very high. As a result, the Gant Chart provides a step-by-step procedure and timeline to realize the goal of reducing the total cost by hiring 2 nurses per month at a cost of $45.00 per hour. In the long run, this would total to $51,840 per month, which would be $32,256 shy of the original cost in 6 months. The Gant Chart should, therefore, be embraced as much as possible in project planning and management (DuBrin, 2011).
References
Davidson, J. (2000). Project management . New York, NY: Breathing Space Institute.
DuBrin, A. (2011). Essentials of management . London, LDN: Cengage Learning.
Timmreck, T. (2003). Planning, program development, and evaluation: A handbook for health promotion, aging, and health services . New York, NY: Jones & Bartlett Learning.
