CMMS: Budgeting is Easier by Knowing Equipment Lifetime Expectancy

May 27, 2015
1 min

Budgets are one part of running any facility and can cause many headaches. Whether you're the owner or you work for the company, the budget still has to be created and is something that must be agreed upon by everyone. Without a proper budget, important maintenance issues can go unchecked such as; safer roads or bridges, in the case of a Frederick city budget.



One of the most difficult parts of the budget is knowing what to allot for and one of the biggest money allotments is often your equipment budget. Large equipment is costly not only in replacements but also in repairs and it can sometimes be difficult to decide which is better as a long term solution for your company. With CMMS (Computerized Maintenance Management Software), you can predict the lifespan of your large equipment and it's as easy as pulling up a report.


Equipment Life 

How it works is that the asset list allows you to input important information about your equipment such as class, model, category, name, purchase date, serial number, and more. It also allows you to input repair information and by using the life expectancy area of the software, it shows you the trend of your equipment's life expectancy, letting you know which equipment may need a replacement soon and which equipment is running efficiently.


Capital Planning

With the capital planning section of the software, you can see the purchase date, life expectancy, value, threshold, usage percentage, and total cost, which allows you to eliminate repairs that are not necessary and cut down on surprise repairs which lead to costly downtime. This is a feature you can access at any time but is perfect for using a couple of times a year just to get an idea of your budget planning.


Read More:  Avoid The Money Pit


Budgeting is never easy but there are ways of making it more tolerable and by using CMMS, you can not only make it easier on yourself but have backup data and reports to show your superiors or whoever is in charge of signing off on the budget. It is simple to use and best of all, since it is a web-based application, you can refer to your life expectancy and capital planning at any time, even if you're not at your office or by your desk.


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