Creating a comprehensive facility management plan under budget
FM, also known as facility management, is a broad discipline that covers a range of sectors, including residential, manufacturing, corporate, healthcare, and more. Facility management, an interdisciplinary practice that "considers the coordination of people, place, process, and technology," is just one factor that contributes to a profitable operation on a limited budget.
To make sure your facility maintenance budget is thorough, use the following best practices.
1- Make a budget for emergencies while planning for proactive maintenance:
Preventive maintenance entails maintaining regular work performance and keeping track of the annual budget for facility maintenance. You can keep your assets and facilities in excellent condition and save money by prioritizing routine maintenance over emergency repairs. As a result, you'll save even more money if you set aside a sizeable portion of your facility maintenance budget for preventative work.
2. Examine Spend from Previous Years:
You can better predict your future spending by reviewing your facility maintenance budgets from the most recent years. Make sure your decisions about your budget for the upcoming year are supported by data. For instance, you could fix your HVAC system. That suggests it might be time to buy a new HVAC system.
Including it in your budget planning procedures can be beneficial.
3. Take into account seasonal maintenance requirements:
Every season has its own set of issues with facilities. Keep this in mind as you create your budget. You should allocate a portion of your budget to snow and ice removal, potential power outages, and heating system maintenance if your facilities are situated in regions with severe winters.
Similarly, if your facilities have hot, humid summers, you must allocate money for air conditioning maintenance.
4. Take into Account Hidden Costs:
If unaccounted for, underground costs could cause your budget to veer off course. Analysing expenditures from previous years can show where these hidden costs are being introduced.
If you are purchasing software licenses, for instance, your budget's procurement costs may increase.
Final Conclusion
Facilities managers should remember to include all stakeholders when creating the budget. Budgets for facility maintenance can also be planned with the aid of the procurement teams, CIO, and finance division. By following this procedure, you can keep your organization's spending plans transparent and ensure you don't overlook a crucial initiative.