CMMS Maintenance Care Blog

    Asset Management Helps Control Unexpected Costs

    Posted by Tracey Male on Mon, May 9, 2016 @ 10:00 AM

    Do unexpected costs make you lose control?  It's a natural occurrence that emergencies happen and catch us off guard.  Even if you have extra set aside in your budget, sometimes things just happen that are beyond our control. 

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    While you cannot plan for every single emergency, there are a few ways to help make sure that you are better prepared for them.  Here are just a few:

     

    Knowing What to Expect

    One of the most important ways to plan for emergencies is to have an idea of what to expect. With asset management from Maintenance Care, you have the ability to plan for the future. What it does is show a life expectancy of your equipment. You input data like the date you bought it, how much it costs, how many repairs it has needed, and more. Trending the life expectancy of assets can allow for effective evaluation of spending practices and give you a greater understanding for which equipment needs replacing and which brands are more effective. By knowing when it is time to replace your equipment, less downtime is more easily predicted.

     

    Planning Ahead

    Preventative and predictive maintenance is one of the most important things to utilize when running a maintenance department.  By taking care of the preventative issues, you have a better chance of catching those items that will fail or small problems that can snowball into larger issues that cost more in the long run.  Preventative maintenance should always be scheduled on a daily basis if necessary in order to stay on top of every little issue.

     

    Read More:  Have A Better Outlook For The Future

     

    Realistic Goals

    Like with anything, planning for the worst requires realistic goals. Take into account the issues that may cause you an emergency situation. For example, you have a heat pump or boiler that has had many issues in the past with multiple repairs. It is a good idea to keep in mind that this is a piece of equipment that may need replacing sooner than later. Set aside part of the budget for this item if possible and compare the costs of a new one as opposed to having another repair. Make sure that you check out the warranty on a new one and then you can see which is the better option. New is usually better but your budget has to warrant that kind of purchase. However, paying for repairs month after month starts to cost a lot so in the long run, a new one may be cheaper.

    Preventive-Maintenance-Checklist

    Tags: asset management