Budget Management in Facilities Management

From OPEX and CAPEX to variance analysis and cost centres, this course gives you the practical financial know-how to build and manage a realistic Facilities Management budget with confidence.

Procurement and Contract Management Course

Courses are held in Leeds and Manchester.

  • Next Course Date: TBC

This course will consider the difference between an OPEX and a CAPEX budget; how to develop a realistic budget for the Facilities Management department and how to manage the budget effectively.

By the end of this course, you will be able to:

  • Explain the difference between an OPEX and a CAPEX budget

  • Identify examples of fixed and variable costs and direct and indirect costs which should be included in the budget

  • Explain the difference between Historical, Incremental and Zero-based budgeting and give examples of when to use the different methods

  • Explain the importance of identifying different cost centres

  • Explain different methods of managing the OPEX and CAPEX budget

  • Explain what is meant by a budget variance

  • Explain the different methods that can be used to reduce or minimise budget variances

This course is aimed at people already working within Facilities Management operations, who want to consolidate their knowledge and understand the importance of developing an accurate budget and managing that budget effectively

It’s great for aspiring managers with existing, practical FM skills who are looking to take the next step, or for people with experience in related industries who are looking to move into an FM role.

It’s also ideal for those who are studying for their IWFM qualifications, perhaps by distance learning, who would like some face-to-face tuition to support their studies.

Although this course is open for anyone to attend and is not assessed, the content has been developed in line with elements from the IWFM qualifications at Levels 3, 4, 5 and 6 and includes content relevant to the following units:

FM3.07 Budget Management of Facilities Management Operations
FM4.04 Support Service Operations
FM4.07 Understanding Financial Management in Facilities Management
FM5.05 Financial Management for Facilities Managers
FM6.04 Financial Management in Facilities Management

This makes it ideal for IWFM qualification learners who are looking to support their studies with face-to-face tuition.

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