PRSM 2012 Best Practices - (Page 87)

TrACkiNg FiNANCES FOr FACiLiTiES AUTHOR shawn browning,leed-green Assoc., FMA, rFMP , territory Facility Manager COMPANY nike chAllenge: Because a maintenance and repair budget can be quite significant and also be high profile, tracking and reporting the correct spend are essential. Having a strong software program and knowing when to pull what reports will help track and report an accurate spend to leadership and finance teams. best PrActice: Work order management programs When discussing potential work order management programs, make sure to emphasize the importance of an accurate, robust invoicing capability. If the current system does not have one and a change cannot be made, then a strong partnership with the finance team and Excel spreadsheets will work well. Pulling reports It is recommended to pull financial reports at least once per month. First, sort by preventative maintenance (PM) or contracted work vs. break/fix repairs. PM costs are part of standard operating procedures and are easy to explain and track (and forecast). Also, note the percentage of PMs costs vs. break/fix costs. This will help explain the spend as well. Second, sort the data to quickly review and catch any errors or anomalies. For example, first sort by vendor to assure only vendors’ invoices are coded to the budget. Third, sort by dollar amount and focus on the higher amounts to assure they are not a capital expense that was miscoded to the operational budget. If any anomalies are found, make sure to note and provide an explanation (i.e., natural disasters, vandalism). After reviewing the monthly report, note the errors and/or questions and send them to the finance team for correction or answers. Once the monthly report is confirmed, then compare it to the monthly forecasted amount. If there is an overage, pull money from a future month to offset the amount and if the amount comes in under, then strategically reallocate the dollars to an upcoming month. To verify that the monthly spend is reasonable, compare it with last year’s monthly spend. Remember, this information can be used to help forecast the next budget. results: Properly tracking a maintenance and repair budget helps to accurately forecast, to report on a maintenance and repair budget and to build credibility with leadership and finance teams. Also, keep in mind that every dollar spent has a direct impact on the stores’ profit and loss report, so making sure spending is accurate is important for the stores’ successes. VeriFicAtion oF eFFiciency And sAVings cAPtured: Always compare monthly reports to last year’s spend for the same month. After removing any anomalies or program changes, the spend should be relatively similar. If there are any dramatic variances (>10 percent), report them immediately and make any necessary changes to future months’ forecasts to offset the overage. 2012 Best Practices | 87

Table of Contents for the Digital Edition of PRSM 2012 Best Practices

Conducting Multi-Site Paving Improvements to Ensure Continuity
Conducting Multi-Site Paving Improvements to Ensure Continuity
Exterior Rebranding
Exterior Rebranding
Getting the Most Value Out of Roof Management
Getting the Most Value Out of Roof Management
Pervious Concrete Pavement Solves Drainage Challenge
Pervious Concrete Pavement Solves Drainage Challenge
Pervious Pavement: Concrete Solutions to Driveway Stormwater Drainage and Sustainability Problems
Pervious Pavement: Concrete Solutions to Driveway Stormwater Drainage and Sustainability Problems
Applying Bipolar Ionization to Improve Indoor Air Quality and Save Energy
Determining Responsibility for Ceiling Leaks
HVAC Maintenance and Repairs Quote Review
Managing HVAC Energy Usage Without Installing an Energy Management System
Solving HVAC Issues on Landlord Operated Systems
Creating a Standardized Cleaning Chemical Program
Floor Replacement Planning and Execution
Improving Pest Control Monitoring to Maintain Store Cleanliness
Streamlining Store Cleaning Through Internal Benchmarking
LED Conversion Bolsters Ambiance, Bottom Line and Environment.
LED Gas Canopy Lighting Upgrade
Lighting Maintenance
Retrofitting Signage with LED Technology
Performing Basic Troubleshooting to Save Money
Implementing Repair Audits to Ensure Customer Safety
Improving Quality, Cost and Schedule Through Safety Education
Managing Extended Power Outages Through Emergency Response
Managing Risk Through Slip Resistance Testing
Creating Energy Teams to Pursue Opportunities
Formulating Green Solutions
Making Data Centers LEED Compliant
Outfitting Facilities with an Eye on ENERGY STAR Certification
Recycling Cooling Water From Air Conditioning Systems for Toilet and Landscaping Use
Sustainability-How the Facilities Team Can Contribute
Driving Down Waste Expense
Reducing Trash and Recycling Expense for Retail Locations
Transferring Compactor Maintenance to a Service Vendor
Waste Service Efficiency and Compliance
Waste Evaluation and Right Sizing to Reduce Cost
Asset and Service Warranty Tracking and Management: More Fully Realizing the Value of Budget Expenditures
Conducting an Organized Meeting
Proactive Maintenance Scheduling and Delivery
Repair Reductions by Participating in Design and Construction Table
Streamlining the Store Closing Process
Achieving Process Improvement Through Onsite Assessment of KPIs
Forecasting a Maintenance and Repair Budget
How to Calculate Return on Investment
Tracking Finances for Facilities
Centralizing Vendor Training and Management
Creating a Service Vendor Call Center to Save End Users’ Money
Answering a Call Status Challenge with an IVR Solution
Communicating Product Recalls Using a CMMS-Inspired Module
Doing More with Less and Saving Money in the Process
Ensuring the Accuracy of Web-Based Maintenance Requests
Establishing an End to End Procure-to-Pay Process
Leveraging Existing Technologies to Provide Updated Process Improvements
Quality Management of Bundled Periodic Services
Reduced Dashboard Time at Supply Houses
Parking Lot Management
Creating Best-In-Class Snow and Ice Management White Paper
Energy Savings/HVAC Air Filter Bypass
Managing a Retail Lighting Retrofit Project – Bright Ways to Improve Your Lighting and Your Bottom Line!
Managing Energy Usage with Interval Meter Calibration
Navigating the Department of Energy’s Higher Efficiency Regulations
Supplier Insights into Competitive Sourcing White Paper
Testing HVAC System Options to Reduce Costs and Labor
Understanding Retail Facilities Sourcing White Paper
Glossary of Acronyms and Terms

PRSM 2012 Best Practices