Objectives

The ultimate objective of every maintenance department is to maintain the company’s equipment in high operational condition in the most economically effective way. However, assessing the economic performance of a maintenance department is not a simple task. This module provides guidelines for the computation and analysis of the economic results of maintenance which enable the assessment and improvement of its economic performance.

Learning Outcome

Upon completion of this chapter the trainee will be able to:

• Evaluate the economic performance of the maintenance procedures within a company
• Monitor the progress of the economic effectiveness of maintenance over time
• Detect potential problems and weaknesses

Prerequisites / Related Topics:

Pre-requisites: Measurements

Related Topics: Analysis of the technical performance of the assets,

Keywords:

Economic performance, Key performance indicators, Total maintenance cost, Improvement actions