FMP Finance & Business Essentials, a module of International Facility Management Professional (IFMA) – Facility Management Professional (FMP) credential program.

FMS started the first 2014 FMP course  on Finance and Business Essential, dated 15 & 16 January, in Singapore.

During the course, participants were asked ” Why is Finance and Business” competency so important to FM, most are able to answer well. When asked “If Finance and Business knowledge and sills are so important, why is it so neglected?” Many responded that it is because of:

• fear of numbers
• not given the opportunity
• don’t understand and dislike numbers
• no time as they are often in “fire-fighting” mode
• perception that FM communicates in bolts and nuts language

The class was conducted and facilitated very well and by the end of the workshop, many appreciated the learning and expressed that they are now more confident to test out what have learnt.

Briefly about the course:

Finance and business in FM involves

• Being able to manage / oversee the financial management of the facility organization.
• Administrating procurement.
• Administering and managing / overseeing the finances associated with contracts.

In the Finance and Business Essentials course, the goal is to present essential concepts underpinning finance and business appropriate for facility managers. The information provided is intended to be reasonably self-contained so a facility manager with litter or only a modest background in finance and business can understand its content.

The course aims to provide proficiency and guidance. It enables participant to reflect on their organizations’ culture and consider how the information may be applied.

– International Facility Management Association