The Importance of Planning in a Down Economy

What you should consider to avoid cost overruns, cash flow and funding shortfalls

Whether your capital budget is in the billions or just one million, the goal is the same: make informed decisions about which projects to include, when to execute them and how to do so cost effectively. Unfortunately, even the most seasoned Planning Managers admit that the process is complicated and problems are more the norm than the exception.

This whitepaper will define some of the most common problems encountered when creating and maintaining a capital plan, and discuss the outcomes that result from these challenges. A series of best practices will be shared to help you create a more formulized process that will improve decision-making, and make efficient use of manpower and capital dollars, including:

• Avoiding outdated, inaccurate, or incomplete information
• Avoiding the squeaky wheel syndrome and learning how to prioritize projects based on strategic goals
• Keeping stakeholders informed throughout the process to mitigate risks 
• More