The 4 Best Resources for Facility Management Budgeting
Facility managers have a tough job that constantly keeps them on the move, especially when work orders come in and occupants expect a fast fix. Sitting behind a desk to catch up on administrative work often gets pushed lower on the priority list, and big administrative projects like budgeting can fall through the cracks.
But budgets are critical for facility teams to do their jobs – from workload balancing to supply ordering and remodels to asset replacements, a budget tells building managers what they can and can’t afford for the year. We’ve rounded up the top 5 free resources for facility management budget planning to help you get a grip on your department’s finances.
1. Facilities Budget Template
Maintaining a facility budget requires a balancing act of staff work hours, asset repairs, replacements and more. It’s helpful to start with a comprehensive template that does some of the work for you. Download the Facilities Budget Template to get started.
2. Budget Season: 4 Ways to Communication Your Facility Management Team’s Value
During budgeting season, funds are distributed based on immediate needs instead of departmental results. If facility leaders don’t know how to communicate data to their organization, the facilities department can quickly be overlooked when it comes to funds for projected needs. Read this blog for four data-driven ways to showcase your team’s hard work and dedication and get the dollars you need in your budget.
3. Storytelling in Facility Management Budgeting
How much funding you get during budget season depends on your story telling ability and the supporting evidence you provide. If a boiler is failing, you need to use maintenance records, photos and financial data to prove that continuing to maintain the piece of equipment will be more expensive than replacing it. Read this blog to find out how to collect the facility data you require to justify your budget needs.
4. Facility Budget Planning: Make the Most of Leftover Money
You’ve probably heard the saying ‘if you don’t use it, you’ll lose it’, but it’s unfortunately too true for one important area – budgeting. Even if everything went according to plan, you could still be scrambling. Instead of finding money, you’re now trying to spend it. Read this blog for the two best ways to make the most of your dollar before time runs out.
Don’t see a resource that covers what you need help with? Reach out to our Facility Innovation team and we can point you in the right direction.
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