Running head: EVALUATIONS AND BUDGET PAPER 1
EVALUATIONS AND BUDGET PAPER 2
Evaluations and Budget Paper
Evaluations and Budget Paper
A typical organization usually run multiple programs at one time, which help them realize their goals and objectives. Most of these programs are expensive; hence, they should be assessed regularly by the use of the evaluation plans. An evaluation plan is defined as a document that outlines the way a program is monitored and evaluated as well as the manner the results will be used to enhance it and make informed decisions (“Developing an Effective Evaluation Plan”, 2011). An evaluation plan enhances program design and implementation, demonstrates its progress, and determine the value for money as well as a realistic timeline. A process evaluation differs from an output one in terms of definition, when it is used, and what it shows, and the typical budgets used in grant funding include operating budget, cash or cash projection budget, capital budget, and grant or contract budget.
Benefits of Evaluation Plans
Various benefits are earned from an evaluation plan. Notably, it helps improve plan design and implementation. It is vital to continually assess the program’s activities to ensure that they are effective as planned. During the evaluation plan, areas that need to be improved are noted, which helps achieve the stipulated goals and objectives. The results are used to avoid errors in future projects. Hence, an evaluation plan is directly linked to the success of any program.
Furthermore, an evaluation plan aids in determining the status of a program in terms of progress. The gathered results are used to portray the potential of the project to all the interested parties, and as a result staff are motivated and potential financiers’ attention gained and maintained (Martin, 2015). For the program to succeed, all parties need to be assured that the plan is achievable, and it has the potential of enhancing the current state of affairs.
Besides, evaluation plans help in determining the value for money and developing an accurate timeframe within which a program will be ready for implementation. The evaluation plan helps to show that the allocated resources will yield the greatest benefits for both the clients and stakeholders. Besides, an effective plan ensures better planning of all the activities involved in the program. Generally, this helps earn trust from the involved parties, such as sponsors, which improves the success rate of the program.
Differences Between A Process Evaluation and Outcome Evaluation
The process evaluation and outcome evaluation differ significantly in terms of definition, when they are used, and what they show. The former helps determine if the project’s practices have been completed as expected and resulted in specific results. On the other hand, the latter aids in assessing the impacts of the program on the target group by measuring its advancement and the objectives that the plan seeks to achieve.
Furthermore, a process evaluation is used any time after the program implementation starts or during the operation of an existing plan. In contrast, the outcome evaluation is done after the program reaches one individual or group of targeted persons. Hence, process evaluation is done during the making process of a program, while the outcome evaluation is done when a plan has been made.
Besides, the two evaluation plans differ in terms of their objectives. The outcome evaluation helps to determine how well the program is working, the extent to which it is being implemented, and the manner the target population is reacting. Conversely, the outcome evaluation illustrates the extent to which the plan is having an impact on the behaviors of the targeted individuals. In summary, process evaluation determines the effect of the program during the implementation process, whereas the outcome evaluation measures the program effects of the program when it is ready to be implemented.
Forms of Budgets Utilized in Grant Funding and Why They Are Applied
The four common budgets used in grant funding include operating budget, cash or cash projection budget, capital budget, and grant or contract budget. The former is simply the yearly financial plan that records the revenues and the expenses of the existing processes. Remarkably, income from contributions, special events, grants, and other sources are all reflected in an operating budget. Some of the recorded expenses include wages, compensation packages, payroll levies, and professional charges. Normally, operating budget supports all activities and other practices associated with the project.
A cash projection budget, which is used together with an operating budget, captures details of short-term cash inflows as well as outflows. This type of budget, which takes the form of an operating budget determines amount of capital required for each specific category (“Preparing for the Budget Process”, n.d.). As a result, an organization can determine the suitable time to borrow funds, clear debts, and use assets. A cash projection budget helps financial managers to make critical decisions, such as when to borrow additional funds or invest the surplus ones.
Furthermore, the capital budget records the assets’ sale and purchase. Typically, this type of budget captures the list of capital needs, expected income, and the net amount of total capital (“Preparing for the Budget Process”, n.d.). A capital budget is a vital component in the grant funding process as it used to determine the ideal time to acquire long-term assets and the appropriate financing means to be used.
The last budget used in grant funding is a grant or contract budget, which is prepared for each grant plan. Notably, it is a requirement that all grant applications to be submitted together with their budgets. Normally, rules and regulations concerning the grant budget differ from one organization to another. This type of budget is essential in the grant funding process as it is used to hold grantees accountable in the occurrence of a dispute.
To ensure the success of any program, an evaluation plan is essential. Notably, it improves the program design and measures its progress. Besides, evaluation plans help determine the value for money and determine the appropriate timeline within which a program will be implemented. Process evaluation and outcome evaluation plans differ in terms of their definitions, objectives, and when they are used. The typical budgets that are used in grant financing include operating budget, cash or cash projection budget, capital budget, and grant or contract budget. Each budget is used in the grant financing process for a specific reason.
Developing an effective evaluation plan: Setting the course for effective program evaluation. (2011). National Center for Chronic Disease Prevention and Health Promotion. Retrieved from https://www.cdc.gov/obesity/downloads/cdc-evaluation-workbook- 508.pdf
Martin, A. (2015). Plan for program evaluation from the start. National Institute of Justice, 24- 28. Retrieved from https://www.ncjrs.gov/pdffiles1/nij/248779.pdf
Preparing for the budget process: Different types of budgets. National & Community Service. Retrieved from https://www.nationalservice.gov/sites/default/files/olc/moodle/sc_preparing_the_grant_b udget/view9f0b.html?id=3203&chapterid=2092
O’Neal-McElrath, T. (2013). Winning grants step by step (4th ed.). Retrieved from The
University of Phoenix eBook Collection database.
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