Essential Managerial Finance for Facilities Management
Facilities management is a diverse field that demands a lot from its practitioners. Despite this, the fact that senior management of organizations still sees facilities management as a cost center is upsetting. As a result of this misconception, facilities management budget is often subjected to countless reviews, which usually ends in the budget being cut.
The eventual lack of fund caused by these budget cuts has a significant effect on FM in delivering its duties. Even with so little, so much is expected of the FM department. If FM doesn't show signs of being a good steward with the funds entrusted in their care, winning next budget proposals becomes nearly impossible and such an event would further reduce the performance rating of FM.
With a low-performance rating, the already below-par image of FM in the eyes of senior management will take further hits. And FM will continually struggle before it wins funds for the execution of the facilities services workplan and facilities improvement initiatives. To help both new and seasoned FM practitioners to be good financial stewards, this author has penned an experience-based book on how FM practitioners can become pros at the game of financial numbers articulate the value of facilities services and initiatives in financial language that is understood by the senior management.
This book not only teaches you how to prepare the different types of FM budget and financial feasibility analysis, but it also walks you through the entire process of negotiating budget and allocating funds to carefully crafted FM workplan.