... (Drury 2004; Hilton 2005). Alternatively, if the budget does not serve this purpose, then it will impose a threat rather than a challenge (Drury 2000; Hope and Fraser 2001). Maintenance schedules may be postponed in order to meet the annual targeted expenses. This would encourage in an early asset replacement program (Hilton 2005). 1.3. Planning Budgets help managers plan ahead (Hilton et al. 2000). Without any budgets, managers who are often overloaded with work will not be tempted to plan for the future (Drury 2000). However, managers may become more short-term oriented because most budgets are conducted annually (Hayes and Abernathy 1980). Moreover, a research conducted in Ireland proved that companies which emphasized most on budgets actually had the shortest time horizons (Prendergast 2000). To overcome this obstacle, a top level review associated with rewards and pain should be conducted to remunerate those who have worked in the best interest of the organization ...

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