6 Budgeting Questions
Toward the end of the year, maintenance projects tend to pile up just like the leaves outside. In order to secure proper funding for future repairs, most facility managers are tasked with budgeting for the year ahead in the third and fourth quarters.
The difficulty is that, oftentimes, the needs greatly exceed the budget dollars available. In fact, maintenance costs in aggregate are one of the highest cost items on a company’s P&L, thus having a significant impact on earnings. Compounding this is the fact that restaurants continue to age and fall in decline, yet the demands to cut costs continue to rise.
So, how do facility managers determine which maintenance projects are a priority and which ones can be deferred to save money? The answer lies in data and analysis. Without data, informed decision making is nearly impossible…