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Cost Improvement Initiatives & Budget Development
The development of an” Activity “or “Zero” based budget is a technique of planning and decision-making such that each budget request is justified in complete detail starting from the zero-base.
It is derived directly from the Maintenance Strategy and the Life Cycle Plan for the Asset and as such is by default linked to the business production forecasts.
Budgets developed in this fashion create a baseline view of where the organisation ought to be in relation to costs and as a result provide great insight into where the opportunities for cost improvement initiatives lay.
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