One of the main benefits of having facility management and maintenance software is the ability to generate all kinds of reports and assess relevant KPIs. Frustratingly, most software applications produce very detailed reports, so it’s very easy to lose track of time when reviewing every single digit. I know what you’re thinking… There has to be a better way! And there is — shift your focus to relevant key performance indicators (KPIs) such as:
1. Cost of maintenance per unit produced
For those of you who work in manufacturing, this is definitely one of the maintenance KPIs that you should be taking into consideration. Maintenance costs are a part of the total costs of production, so they should be reflected in the cost per unit.
2. Downtime per month
Every minute that your system is not available (downtime) is a wasted minute for your business. Your downtime should never exceed 10% each month — but is best kept at 1% or lower!
3. Work completed on time
In a business where everything runs like clockwork, a large percentage of maintenance and repair work will be done on time with rare exceptions, where there may be delays in finding spare components or equipment.
If, on the contrary, many of the maintenance jobs are completed late, you have reason to worry. The successive delays are usually a symptom for one of the following things — your team does not have the necessary equipment; there aren’t enough human resources (in which case your employees may end up suffering from burnout!); or the team doesn’t have the right skills to get the job done on time. Definitely keep this maintenance KPI in mind!
4. Projected time vs. actual repair time
Maintenance teams should be able to predict how long a particular job will take them. Then this ETA needs to be compared with the actual time — if there is a large difference between the two, something is wrong and that needs to be addressed.
5. Budgeted costs vs. actual costs
Just as there are metrics regarding time, maintenance costs should also be budgeted quarterly or annually. If you go over budget too often, you should discuss the matter with the technical operations manager and understand the reasons behind these discrepancies.
6. Number of parts ordered during repairs
Another metric you should keep an eye on is the number of parts the company needs to order during repairs. If your company is undertaking big, costly orders during repairs, this should be taken into consideration when ordering new equipment and parts for stock.
7. Maintenance cost per section
In addition to the maintenance cost per unit, another important maintenance KPI is the maintenance cost per section. Not all departments have the same maintenance costs, so you need to determine which part of the organization spends more resources and address that department in particular.