In Mid-February we launched the CIF's 2015 Request for Expressions of Interest (REOI). This bulletin is the first in a series that breaks down the application process and offers tips to prepare your best possible submission for this year's REOI.
Special Tips & Tools for Cost Savings Project Applications
Here's what you need to know to create top-quality Cost Savings project applications (using REOI Form 3):
- Cost Savings applications take time: You'll need to gather cost quotations, installation plans and drawings, council approval and other supporting documentation. Start now.
- Prepare a detailed budget: Include a clear and comprehensive budget for P&E, monitoring/measuring, operating and maintenance costs as well as your capital costs. For guidance see: 2015 REOI Sample Payback Calculation Spreadsheet.
- Payback period: Cost saving project payback periods must not exceed eight years.
- Develop timeline and monitoring/measurement plans: These documents are vital features of strong Cost Savings projects. If you need guidance on how to create them, contact CIF.
- Include project evaluation criteria: Use as many of the established criteria as possible to demonstrate the strength of your proposed project.