With all the impending changes to workplaces, facilities planners are scrambling to develop budgets and obtain funding to meet the emerging needs to ensure safe work environments. However, the lack of financial acumen often skewers the chance for adequate financing. If this sounds familiar, you may wish to read a concise guide that has been written about finance–a topic that’s often bewildering to non-financial managers to help them navigate through a dense fog when seeking funding for a project.
7 Secrets for Getting Projects Funded Inside Large Organizations is a quick reference tool for facility and planning/design/construction managers who constantly battle for money in a large organization and AEC professionals struggling to persuade a client to adopt their solution.
“Too many worthy projects are rejected or postponed,” says the author, Alan Whitson, “In a large organization, it’s always a competition for money and the winners are the ones equipped to present the most compelling case for funding.”
The seven short chapters address:
- The common traits of successful funding proposals;
- How to overcome the four physiological biases;
- Coordinating with other groups and avoiding the naysayers;
- Understanding the pros and cons of the four most common measures of a project’s financial performance;
- How funding the project beats keeping the status quo;
- Explaining the cost of delay; and
- The negative economic consequences.
“Too many projects are dead-on-arrival because the sponsor does not know how to ask for funding. Alan gives the step-by-step approach needed to get approvals. This short book is the perfect guide before every project request is sent for review and approval,” says David W. Hewett, RPA, FMA, CCIM, CPM, CFM, CRE, BOMA International Fellow Chairman & Chief Elected Officer of BOMA International 2005 – 2006.
The secrets are compiled from Whitson’s 40 years of in-the-field experience. Working with aerospace, automotive, banking, defense, electronics, healthcare, government, and others industries, Whitson has gotten projects approved that originally had been rejected when presented by others.
Simple, direct language is used to explain the seven secrets including the common traits of projects that win funding, how to use financial terms correctly, and overcoming built-in bias that may exist against your proposal. An important, often overlooked secret: In the beginning, “No” is the default response to requests for money.
The secrets are a mix of behavioral economics, finance, good sales techniques, storytelling, and psychology. Whitson, who is president of Corporate Realty, Design & Management Institute, speaks at multiple conferences each year. The number one question he’s asked: “How do I get my project funded?”
“The insights and tools Whitson bring will guide you to getting ‘yes’ with a project of any scale and build consensus with your facilities teams and organizational leaders,” says A. Ray Pentecost, Director of Center for Health Systems and Design at Texas A&M University’s College of Architecture.
As an e-book, it can be read on a personal computer, tablet, smartphone, or printed. It’s formatted for fast reading and easy comprehension. Content includes 13 charts and tables, and is designed to check for holes in funding proposals as it’s these problem areas that get projects denied or delayed.
For readers of The McMorrow Reports, a special offer with a savings of 34.5% plus the second edition of a companion guide, entitled 49 Formulas, is available in the same library. This e-book is a handy reference guide containing 49 essential formulas for facility directors, property managers, and AEC professionals at this link:
7 Secrets for Getting Projects Funded Inside Large Organizations
About the Author: B. Alan Whitson, RPA, is president of Corporate Realty, Design & Management Institute. Whitson’s experience encompasses over 40 million square feet of facilities around the world in the roles of Asset Manager, Corporate Facilities Manager, Construction Manager, Development Manager, and Commercial Real Estate Broker. The scope of Whitson’s 30+-year career gives him a keen insight into the real estate needs of today’s corporation, and a unique understanding of the architectural, construction and real estate industries. He has held positions with: The Muller Company, Newport Beach; Bank of America’s Corporate Real Estate Division; Storek & Storek Architecture, San Francisco; The Shorenstein Company, San Francisco; Environmental Design Engineering, Seattle, San Francisco and Honolulu. Whitson holds the professional designation of Real Property Administrator (RPA) from the Building Owners and Managers Institute. He is the primary instructor for the Finance 101 for Healthcare Facility & Property Managers workshop.