As a facility manager coming from a background in engineering or operations, preparing and presenting a funding proposal may not come easily. So we put together a quick guide with 3 smart tips to help you ensure that your capital planning projects are approved in the new year!
1. How to Sell Your Project
In order to successfully sell your capital improvement project it is essential to present a compelling business case that is backed by intelligent data.
With a facilities management system like FOUNDATION.Plans, it is easy to convert your vision into operational objectives and to link your capital project plan to individual performance, strategic planning, while highlighting the outcomes for ongoing improvement.
2. How to Present Your Business Case
When developing your business case think in terms of how this capital project will benefit the CFO. It's essential to convey information to the CFO in their language by using the financial models discussed in this blog.
Don't forget to practice your pitch and keep your proposal to about 30 seconds—think of the classic elevator pitch.
3. Getting Your Project Approved
Today, establishing the right metrics and explaining your capital projects using the right financial analysis terms is critical to ensuring your projects get funded and approved. Without the right financial models, it can be difficult to accurately explain to financial stakeholders why certain projects need to be funded.
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Using these essential financial tools and sharing them with executive leadership will go a long way when it comes time for you to present your capital budget plans and get those projects funded!
Ready to learn more?