Like any other project, maintenance requires appropriate allocation of funds and BTU provides the budget planning needed to achieve your goals and ensure you always have enough money to carry out planned preventative maintenance, project works and any reactive maintenance that may be required.
Moreover, the BTU approach to budget planning focuses on providing advice for:
- Future budgeting – keep your finances on track by mapping out your budget for future events and forecasting possible peaks on the expenditures that may require adjusting the budget plan.
- Capital replacement – maintaining your building in good condition will eventually require spending on replacement parts and repairs. With a professional estimation of the remaining life of your systems and its components, and the cost of replacing them, you will be able to know how much of your budget you need to allocate as a reserve to meet these expenditures in the coming years.
- Life expectancy – as mentioned above, replacement and repairs are inevitable at some point. Having a good idea on when reduces the possibility of undesired surprises, which results in lower operation and maintenance costs by having components replaced before they fail. Also, including this in the budget plan reduces the need for short-term borrowing which carries extra costs due to interest rates.
- Whole life cost comparisons – having options to plan your budget according to your needs provides a great flexibility to make the right decision. Comparing those options while including all the stages of the project can give you a valuable overview.
- Options appraisals on systems and types – make sure you are making an informed decision by using the options appraisal technique, not only at the whole life cost level but also at the systems and types level.
