What can asset managers do to prevent the deferral of critical maintenance? And how can they use analytics to assist with this?
When budgets are tight, or there are competing priorities for funds, deferring maintenance is an easy target for decision-makers in Finance, or Executive Budget Committees.
Yet asset managers know this myopic approach can have serious impacts: cuts to critical maintenance expenditure can accelerate asset deterioration leading to worsened performance (more defects and downtime) and higher costs in the long-run.
In his technical article, Michael Carman will define the problem, tackle the question of what are the effects of deferred maintenance, quantify the pain of deferred maintenance and will put the model to work through the use of a case study.
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