Tuesday, September 6, 2016

Tips On Making A Capex Request

By Kevin Murray


Requesting money for your project is not an easy thing to do. You would have to be careful with everything that you shall put your request. They need to be relevant for the members of the board to be interested in your concept in the first place. So, allow the tips below to help you with your writing.

Every estimate needs to come with an accurate calculation. Also, stop fearing that this will put your Capex request to waste. On the contrary, when you openly say that this will be an expensive venture, you already have the attention of everybody with your boldness. That is when you can show them the high level of profit in return.

Be brief in describing how you have come up with your business plan. Describe the motivating factor which lead you to believe that this is a necessity to world nowadays. Again, let your request serve as a glimpse of your vision to the board and that can persuade them to give you a chance and be lenient with your future adjustments.

Go on with the technical changes that might happen along the way but also give the assurance that you have carefully planned for all of this. There is a second plan if some parts of the original layout fail. So, simply be ready for those questions whether they might appear skeptical or not. Accommodate everybody and gain their trust.

You must show accuracy in the cost page. In that scenario, these individuals will allow you to work under less supervision when the construction is already going on. That can give you the freedom to spend the budget using thrifty options but never compromising the quality that the company is already known for.

Be honest with the risks. Again, the only way to win these individuals is for you to be transparent with the things which they will find out in the long run. In giving them the heads up, you are actually making the project more exciting for them. Thus, just have all the confidence in convincing them to take that first step with you.

If some of the stakeholders have already agreed with your plan, simply show a document of their approval. Most of the time, when there is money involved, the group just needs someone to do it first. In that way, the blame can be on this person if everything goes haywire. That is just how business works.

An assumption list will also be expected from you. However, realize that this is just to complete the standard portfolio. So, focus on how you can gain the favor of everyone in that room and you will stop being afraid with your ideas to improve the company.

What is important is that you are willing to defend your proposal until it gets the approval. If this has solely been your idea, then just be motivated by the fact that you will get all the recognition in the end. Believe in your creative idea and everyone else would follow suit along the way.




About the Author:



No comments:

Post a Comment