We have talked about it before, but I find it really important to bring it up again. Preventative maintenance is important for your business in so many ways. Delaying maintenance can really carry a high cost. The results can range from basic component failure to complete equipment failure. What could it mean for you if your equipment fails? It’s important to not only look at cost savings of deferring your maintenance but to also know the cost in the scheme of things. Each system impacts different areas of your building and wear and tear must be taken into consideration, as well as the risk to contents and people in your building. Sometimes deferring maintenance isn’t the best solution. Deferred maintenance is often a financial decision—spend money now or spend money later. As the facilities manager, it is often your job to ensure funding to support regular maintenance and to cover the backlog of deferred maintenance items. Here are some tips to make an effective business case to secure future funding.
• Evaluate the current cost of the maintenance and compare it to the liability of deferring maintenance or the cost if equipment were to breakdown. If you decide to wait until later to perform the work, make sure the monies are in your budget and estimate a cushion for possible replacement if something should go wrong.
• Use historical data and determine the long term cost versus the current period spend.
• Estimate the risk potential. As a result of deferring maintenance, will there be a hazard or liability? Could revenue drop because of declining customer experience? How about employee morale? How about the extra costs in energy? Often times when equipment is not running at peak efficiency, it also draws more energy, which will lead to higher energy bills.
There are many ways to argue risk; identify where the potential for risk may be. In today’s economy, businesses are looking for ways to reduce expenses and hold on to cash. Although delaying maintenance may seem an effective way to cut cost, it’s actually a cost avoidance tactic that may cost you twice as much in the future.
Including an ongoing preventive maintenance plan with a trusted partner is one of the most efficient and effective ways to reduce costs. Working with someone who understands your needs and can work strategically with you, will yield desired results every time.
With Winter fast approaching, don't get left in the cold.
• Evaluate the current cost of the maintenance and compare it to the liability of deferring maintenance or the cost if equipment were to breakdown. If you decide to wait until later to perform the work, make sure the monies are in your budget and estimate a cushion for possible replacement if something should go wrong.
• Use historical data and determine the long term cost versus the current period spend.
• Estimate the risk potential. As a result of deferring maintenance, will there be a hazard or liability? Could revenue drop because of declining customer experience? How about employee morale? How about the extra costs in energy? Often times when equipment is not running at peak efficiency, it also draws more energy, which will lead to higher energy bills.
There are many ways to argue risk; identify where the potential for risk may be. In today’s economy, businesses are looking for ways to reduce expenses and hold on to cash. Although delaying maintenance may seem an effective way to cut cost, it’s actually a cost avoidance tactic that may cost you twice as much in the future.
Including an ongoing preventive maintenance plan with a trusted partner is one of the most efficient and effective ways to reduce costs. Working with someone who understands your needs and can work strategically with you, will yield desired results every time.
With Winter fast approaching, don't get left in the cold.
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