Finance and Information Technology

  • To generate and maximise income, to be compliant with the legal obligations for financial management, to evaluate financial performance and understand life cycle costing methodologies.
  • To set, manage and monitor budgets and prepare financial cases.
  • To use, analyse and manage data and information.
  • To constantly review and analyse the applications, benefits and costs of IT systems to support an organisation.

FM functional area components:

Financial Management

  • To recognise how income is generated within facilities management, the legal obligations and to evaluate financial performance.
  • To understand the principles of management accounting, balance sheets, the use of capital and revenue budgets.
  • To identify trends and variances and prepare financial cases.
  • To develop and manage budgets, understand the impact of depreciating asset values, whole-life costing and discounted cash flow.

Information Technology

  • To develop a facilities management IT strategy to deliver and manage the delivery of the service.
  • To be aware of fast-changing technological trends and to maximise opportunities for process improvements.
  • To use systems, for example computer-aided FM software (CAFM), to plan maintenance, maximise the lifespan of assets, analyse financial data and forecast future requirements based on changing business needs.

 

CAREER LEVEL Financial Management Information Technology
STRATEGIC Ensures financial probity and effective corporate governance, evaluates investment and income-generating opportunities Uses knowledge of developments in technology to Influence the facilities management aspects of an IT strategy
SENIOR Informs the strategic business planning process and evaluates performance against budgets Manages the implementation of IT solutions and evaluates their impact on service delivery
MANAGER Monitors the delivery of objectives against cashflow limits and budgets, reporting variances and preparing business cases Manages the use of IT to ensure effective service delivery and encourages the adoption of new technologies
SUPERVISORY Manages operational budgets against targets, investigating and recommending action to address variances Supports the use of IT to achieve efficiency in service delivery
SUPPORT Carries out financial management activities as directed Uses IT resources efficiently

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