Finance & Business
FM professionals oversee some of the largest financial assets in an organization. This domain includes budgeting, procurement, contract management, and financial reporting—ensuring fiscal responsibility and performance transparency.
Subdomains of Finance & Business
Operational & Capital Budgeting
Facility managers are responsible for creating and managing budgets for daily operations and long-term investments. They must know how to forecast expenses, plan capital projects, justify spending, and report on financial performance. This also includes cost allocation—charging services to other departments using a system known as chargeback.
Evidence-Based Decision-Making
Facility managers must understand life cycle costing and analyze data to recommend sound financial decisions that support the demand organization's business strategy.
Procurement & Contracting Strategies
This subdomain covers how facilities acquire goods and services. Managers need to understand how to develop procurement strategies, manage supplier relationships, and administer contracts. They must follow rules for purchasing and build trust with vendors to meet facility needs.
Financial Analysis & Reporting
Facility managers must analyze financial data to support planning and decision-making. This includes creating forecasts, financial models, and reports to evaluate costs, savings, and performance over time.