How do we balance time and money when it comes to plant maintenance? It’s common for many organizations to rely upon reactive maintenance, and fixing problems as they occur. While this method can seem cost-effective initially, the costs will increase over time with extended downtime and greater unpredictability. Proactive maintenance, however, while generating a higher upfront cost, can lower overall maintenance costs, reduce equipment and employee downtime, and significantly increase asset availability.
“An ounce of prevention is worth a pound of cure.” —Benjamin Franklin.
What Is Preventive Maintenance?
Even the best-built equipment will break down over time and need maintenance. Much like taking a car in for regularly scheduled oil changes, preventive maintenance is planned maintenance that a facility performs on its equipment to reduce the risk of failure. Also sometimes referred to as preventative maintenance, the goal is always to incur a lower cost in the present to prevent a higher cost from equipment breakdown in the future.