Describe the capital acquisition. What is the scope of the renovation? What will the renovated lounge look like? o Consider such factors as comfort, amenities, aesthetics, and capacity. What is the timeline for the project? Is your description of the renovation complete and accurate? Justify the need for the capital acquisition. In what ways will the renovation benefit the nursing staff? o How will those benefits affect patient care? Examine the mission of your organization or unit. o How does the nurse's lounge renovation support the mission and goals? How are executive leaders likely to react to your budget? Prepare the capital budget. Does your budget have a minimum dollar amount? Does the renovation include both direct and indirect expenses? Have you included a budget line item for contingencies? Describe the process for calculating costs. What are your primary sources of cost information? How current and reliable are your cost data? What teams or individuals would you consult with in order to determine costs? What are your methods of cost calculation? Present a plan for budget management. Who can you collaborate with to manage the budget? o Examples include financial or administrative staff or budget committees. What cost control methods would you employ? How will you manage budget variances