How to build and maintain a Maintenance budget

Reliability Solutions
How to build and maintain a Maintenance budget Area managers, Maintenance managers, Supervisors, Operating Superintendents, Continuous improvement - Business Process Manager & Reliability and maintenance engineers.

The objective of this course is to explain the financial fundamentals of budgeting applicable in a maintenance environment. The course focusses on non-financial trained people, as most maintenance and reliability people are. The course want to address the growing need to translate improvement – i.e. reliability - initiatives into a business language. We all seek availability improvements, but how do I convince my senior management? This course will give you the tools and the confidence to succeed in this task. After taking the course you will understand the budgeting process and the follow-up process to keep the maintenance cost under control.

Reliability Solutions On demand English On demand

Content

  • To understanding financial fundaments such as supply chain, conversion cost, difference between expenditures and investments, variable and fixed cost, budgeting and controlling, life cycle costing, etc…
  • What is the purpose, the need and the expectations of a maintenance budget
  • Basic understanding of the principles and process of creating a maintenance budget
  • Distinguish specific maintenance costs from other business costs
  • Different approaches for budgets on “Asset” level or “Workorder” level
  • Concept of "Zero Based Budget" versus historical or recurrent budget
  • How to gather facts and figures needed to create a maintenance budget
  • Hoe doelen en financiële KPI’s bepalen.
  • How to control maintenance costs against the maintenance budget
  • Get a good understanding in the relationship between maintenance cost and best practices such as the use of preventive or predictive maintenance
  • How to improve maintenance practices based on financial indicators
  • How continuous improvement can contribute in optimizing the maintenance costs
  • What are possible barriers or weaknesses to overcome in order realize a correct budget and corresponding optimizations
  • Hoe een onderhoudsbudget tegenover het management te verdedigen en hoe het te delen met de onderhoudsploeg.
  • How to present and defend a maintenance budget in the management board, and how to inform the maintenance team