Maintenance Cost Control

About the Course

This 5-day comprehensive Maintenance Cost Control training course introduces the practical tools and practices that the various industries need to adopt to drive down their equipment life-cycle costs in practical ways.  Furthermore, lower revenues due to lower oil and gas prices have placed equipment life-cycle costs under the Maintenance Management spotlight like never before.  Maintenance managers face the challenges of delivering the same productivity, safety, equipment reliability, and availability levels with smaller budgets.  

Maintenance costs account for a substantial percentage of business revenue, but the nitty-gritty of total maintenance costs is often unclear. Poorly planned maintenance budget administration and accounting may result in business leaders constantly guessing the essential expenses. Reasons range from process deficiencies to poor system implementation, fragmented data, and lack of user engagement.

It will address the failure of maintenance cost administration and appropriate cost allocation results in planned shortages, sub-optimal spending, over-allocations, and underutilisation. Failing to optimise maintenance cost factors creates expensive overheads and removes the competitive edge in asset management. As an asset-intensive organisation, it’s prudent to understand, analyse and improve overall maintenance costs, to increase return on investment.  The perfect solution to this is maintenance budget administration and cost management.  It is not very complicated and can be easily implemented and streamlined.  

Core Objectives

Delegates will achieve the following objectives:

• Understand what is included under maintenance costs
• Implement best practices for maintenance cost control 
• Know the challenges of maintenance cost control
• Define the principles of effective maintenance cost control
• Develop a strategy to reduce waste and lower the costs of maintenance 
• Implement strategic plans for cost control techniques
• Adherence to original equipment manufacturer (OEM) maintenance schedules
• Maintain an optimal balance of spare parts inventory 

Training Approach

The training course will consist of presentations with interactive exercises supported by lecture presentations, video material, and applicable group case studies, including personal and professional experiences. The delegates will be persuaded and motivated to actively participate in group conversations while continuously being asked open-ended questions related to the subject matter and the applicability of information to meet workplace demands.

The Attendees

This training course would be of great use to almost anyone. The skills covered are valuable for understanding the life cycle and cost of assets and how they impact maintenance management.

Thus, this training course will be valuable to professionals, including (but not limited to) the following:

• Planners and Reliability Engineers
• Maintenance Team Leaders and Managers
• Operations Team Leaders and Managers
• Cost Control Professionals
• Maintenance Managers, Supervisors, and Superintendents
• Stakeholders in the Maintenance Budget and Cost Functions
• Operational Professionals who are interested in Maintenance Cost Control

Daily Discussion

DAY ONE: INTRODUCTION TO MAINTENANCE COST CONTROL 

• Overview
• Understanding Budgets and Cost Control
• Advantages of Maintenance Cost Control
• What is Included in Maintenance Costs?
• Best Practices for Implementing Maintenance Cost Control
• Benchmarking Organisations Cost Control
• Negotiate Contracts with Suppliers
• Collaborative Relationship Building with Suppliers

DAY TWO: IMPLEMENTATION OF MAINTENANCE COST CONTROL STRATEGIES

• Adherence to Schedules and Guidelines
• Preparing for Unplanned Equipment Failure
• Preventive Maintenance Planning and Execution
• Spare Parts Inventory and Cost Reduction
• Standardisation of Cost Control Management
• Understanding Life Cycle to Evaluate Cost of Assets
• Allocate Budgets to Monitor Expenses Consistently
• Prioritise Cost Strategies to Align with Objectives 

DAY THREE: AVOIDING EXCESSIVE MAINTENANCE COST CONTROL

• Empower Existing Team and Focus on Cost Reduction
• Track Metrics Centered on Usage-Based Maintenance
• Collecting Date to Monitor Equipment Condition
• Training the Team with the Required Skills to Maintain Equipment
• Non-Compliance with Standard Operating Procedures (SOP’s)
• Using Parts That Do Not Meet Operating Specifications
• Running Equipment Beyond Operating Procedures

DAY FOUR: COST CONTROL PITFALLS TO AVOID

• Avoid Selecting the Wrong Equipment for the Task
• Avoiding Preventive Maintenance Schedules
• Inadequate Inventory of Spare Parts Management
• Avoiding and Ignoring Proper Staff Training
• Preparing and Submitting Duplicate Work Orders
• Failure to Use the Correct Maintenance Technology
• Maintaining Inadequate Documentation and Records 

DAY FIVE: MAINTENANCE PLANNING AND WORK CONTROL PERFORMANCE ANALYSIS

• Understand the Purpose of Maintenance Cost Control Objectives
• Plan Maintenance Activities Strategically for Cost Reduction
• Focus on Reliability and Proactive Failure Management
• Implementing Best Practices for Maintenance Planning and Scheduling
• Optimise Asset Performance with Key Performance Indicators (KPIs)
• Minimise Equipment Downtime and Improve Reliability
• Reliability Centered Maintenance Cost Control Methods