As a facilities manager, one of your top priorities is controlling costs while ensuring your buildings are performing well. Implementing a planned preventive maintenance (PPM) strategy is a proven way to achieve significant cost savings.
Computer Aided Facility Management (CAFM) software can be an effective way to implement preventive maintenance. PPM planners in CAFM systems allow you to streamline tasks such as:
- Asset management.
- Work order generation.
- Resource allocation.
- Data analysis.
Elogs CAFM includes a PPM planner which allows you to streamline tasks and easily manage your scheduled maintenance tasks. By using a CAFM system to carry out preventive maintenance activities, facilities managers can cut costs and increases productivity levels.
Here are 10 ways PPM can enhance cost savings across your business:
Reduce First-Time Fixes
PPM helps identify and address minor issues before they escalate into major problems requiring extensive (and expensive) repairs. By routinely inspecting and servicing equipment, small problems like worn parts or low fluid levels can be identified and fixed inexpensively before leading to complete breakdowns that are much costlier to repair.
Extend Asset Lifespan
With regular maintenance and care, your equipment and building systems will last longer. Regular maintenance tasks like lubrication, cleaning, adjustments, and part replacements reduce wear and tear, preventing premature ageing and failure. This delays the need for full asset replacements, providing major cost savings.
By using PPM schedules, you preserve the value of your assets and buildings. This helps to keep them functioning at a high level for a longer period. Planned maintenance supports the lifecycle of your assets and equipment. This mitigates the risk of failure and extends the overall lifespan of your assets.
Increase Asset Value
Well-maintained properties command higher rents, occupancy rates, and resale values compared to those in disrepair. By regularly scheduling maintenance tasks, you can preserve the value of your buildings, and even increase it. Tenants are often willing to pay more for buildings that are in good condition. That’s why it’s crucial that you ensure an effective preventive maintenance plan, helping to preserve equipment and assets.
The PPM planner in Elogs CAFM can help you:
- Monitor asset performance.
- Track maintenance activities.
- Generate comprehensive reports for better decision-making.
Reduce Equipment Breakdowns
Breakdowns are a nightmare – disrupting operations, causing tenants hassle, and requiring urgent (and expensive) attention. The primary goal of preventive maintenance is to prevent unexpected equipment failures that disrupt operations. Routine inspections catch developing faults early, allowing for repairs before catastrophic failure occurs.
Not keeping up with maintenance of your assets and equipment can lead to unexpected downtime and costly breakdowns.
Optimise for Peak Performance
Planned preventative maintenance keeps assets operating at peak efficiency by ensuring proper calibration, alignment, and working conditions. PPM ensures your assets are running at peak efficiency, saving on energy, labour, and operating costs. Well-tuned equipment also lasts longer and requires less frequent repairs.
Preventative maintenance ensures that assets perform well, which also makes them more energy efficient. This also means that you’re more likely to meet ESG requirements which have become increasingly important in recent years.
With CAFM software, a PPM schedule can efficiently track maintenance activities, monitor asset performance, and generate comprehensive reports for better decision-making.
Reduce Unplanned Downtime
Unplanned downtime from equipment failure costs a fortune in lost productivity and revenue. Minimising disruptive breakdowns is a major cost benefit. 60% of businesses believe that preventative maintenance reduces downtime, improves safety, and is cost-effective.
Improve Tenant Experience
PPM enhances tenant satisfaction and retention by providing a comfortable, well-maintained environment with minimal disruptions. For property managers, preventive maintenance enhances tenant satisfaction and retention rates by providing a comfortable, well-functioning environment with minimal disruptions from equipment issues. This increases the property’s revenue potential.
Preventive maintenance plays a huge role in maintaining the appearance and functionality of your properties. Not to mention, it’s also key for ensuring health and safety. In property management, this is extremely important in attracting investors and keeping your tenants satisfied.
Preventive maintenance is essential in helping you ensure compliance across your property portfolio. This proactive approach that has been known to boost energy efficiency, cut costs and improve health, safety, and compliance. Maintaining equipment through preventative maintenance activities is crucial for staying in line with statutory requirements as outlined by the HSE.
Attract Loyal Investors
Investors value properties with robust PPM programs, as it protects their capital investments and delivers reliable returns. Investors highly value assets with effective preventive maintenance schedules, as it protects their capital investment. For investors, it increases confidence in the property’s condition and cash flows.
Avoid Emergency Callout Fees
The fees for emergency repair services can be exorbitant and are often higher than routine maintenance visits. With preventive maintenance, you are less likely to need emergency repairs. This means you won’t have to pay for costly shipping to get the parts you need.
Prevent Problems Before They Occur
PPM allows you to be proactive rather than reactive, addressing issues before they cause damage, disruption or safety hazards. It addresses developing faults before they cause damage, safety hazards, or operational failures. This preventative methodology avoids many costly reactive maintenance repairs altogether by anticipating potential problems before they arise.
An effective PPM strategy allows your business to be proactive and address potential problems in your buildings. Ultimately, this keeps your assets running as smoothly and efficiently as possible.
By implementing a robust preventative maintenance program, businesses can experience significant cost savings. Preventive maintenance also helps to extend asset life, optimise performance, reduce risks, and improve tenant satisfaction. It’s clear that preventive maintenance provides an excellent return on investment.
Our CAFM platform allows you to easily manage and edit your preventive maintenance tasks—so what are you waiting for?
Save money with preventive maintenance and book a demo with Elogs CAFM today!
