Is economic analysis in PM worth it?

By Team Writer / December 23, 2016

Economics of preventive maintenance (PM) has three levels of view. The highest level is often referred to as the 30,000’ view or the macro view. In this kind of view, the organization decides if PM approaches make sense for the whole department, given the organization’s goals and the needs and requirements of the business or field.

Key Takeaways:

  • Let’s say we have two heavy trucks. One is a garbage truck and the other is a fire truck. Both trucks have risks associated with failure to perform their duty.
  • The garbage truck is a bit easier to analyze since the crew time and overtime is straightforward to calculate.
  • It is difficult to say what a downtime incident would cost without knowing the consequences or even the likely consequences.

“The garbage truck is a bit easier to analyze since the crew time and overtime is straightforward to calculate.”

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About the author

Team Writer