Typically, AFE approvals have a set timeframe for when the expenditures need to happen, kind of like a deadline. But it’s always good to check with your finance team to know the specific timeline.
Absolutely! Life happens, and if you find you need to make changes to your approved AFE, you can submit a revision request. Just be transparent about the changes and why they’re necessary.
If it’s a no-go on your AFE, don’t sweat it! It usually means there’s some need for more information or adjustments. Just reach out for feedback and see how you can make your case stronger next time.
You’ll need to provide details like the purpose of the spending, the estimated costs, and how it ties back to the company’s objectives. It’s like painting a full picture so the decision-makers can see the need.
Typically, it’s the management team or finance department. They take a close look to make sure the spending aligns with the company’s goals before giving the thumbs up.