Did you know for every dollar saved by deferring your maintenance, there is a four-dollar increase in future capital renewal costs?
Billions of dollars in maintenance repairs to facility assets are deferred every year. Most of these cited deferment reasons are for inadequate funding and insufficient staffing. But most personnel don’t fully understand the delayed maintenance is costing much more in the long run.
Most studies show that organizations who save a dollar by deferring maintenance, see a four-dollar increase in future capital renewal costs. Those four dollars are the direct costs for that specific asset, but there are indirect costs that may cause an even bigger impact. All of these costs add up fast in older facilities and on average cost 15 times what would have been spent on maintenance that had not been deferred.
If facility managers are to be successful in charging the current maintenance culture in their facilities when it comes to deferring maintenance, they must be able to present a case that lays out all costs associated with the deferment.
Click here to read the full article which walks maintenance personnel through making a successful case for proactive maintenance. The original article was posted in September of 2021 on Facilities Net.