Capital improvement Plan
Instructions
three pages. One reference must be used other than our text. you must include a reference page. APA style please. Discuss preparing a Capital improvement Plan (CIP) . Define it and discuss advantages and disadvantages. Discuss the three process steps involved in forming a CIP? How are projects prioritized? What is the importance of a needs assessment and how does that impact the selection process? How are CIP projects financed? Finally, discuss a CIP that you are aware of either in your work or in your community.
Answer
A capital improvement plan (CIP) is a framework that is used by the government or community to plan and coordinate finance in upcoming projects that range within a specified period, such as 4-5 years. The plan estimates the costs and the sources of funding showing a balance between fund allocation and expenditure.Capital improvement plans are advantageous since they provide the government with guidelines to mitigate risks that might occur in the community due to natural hazards. CIPs have an effect on the natural environment of the community and can help to predict future changes, signifying the overall improvements that have been made. With the use of CIPs, the community is able to understand how growth is associated with risks and how to steer clear of these negative consequences. Method...
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